Creganna-Tactx Buys Precision Wire Components

Creganna-Tactx Medical, a medical device outsourcing provider based in Galway, Ireland, is buying Precision Wire Components LLC (PWC), a specialist in wire processing for the medical device industry.

The combined company will be known as Creganna Medical. The transaction, terms of which are not disclosed, is expected to close in early December.

According to Creganna officials, the acquisition will “strengthen the company’s global footprint, enhance its technical capabilities and deepen customer partnerships.”

Precision Wire Components’ manufacturing facilities in Tualatin, Ore. (where the company is based) and Heredia, Costa Rica, will be added to Creganna’s network of facilities in the United States, Europe and Asia.

Precision Wire Components will complement Creganna’s existing solutions for minimally invasive delivery and access devices through the addition of wire component and coiling technologies. PWC’s capabilities include wire straightening, grinding, coil winding, heat treating, forming, flattening, coating, and assembly of custom guidewires and devices.

“The combined company brings together two exceptional organizations who are leading providers of outsourced solutions to the Medical Device industry,” said Chip Hance, CEO, Creganna Medical. “Today’s announcement represents an important step in our growth as a leading global medical technology company. PWC is an ideal fit for Creganna. Adding PWC’s adjacent technologies to our existing portfolio is a further opportunity for customers to efficiently consolidate their supply base. Culturally, we both share a passion to serve those customers with pioneering technologies coupled with exceptional quality and service.”

Geoff Hall, CEO of Precision Wire Components said: “This acquisition will generate tremendous value for all of our customers. Together, we are creating one team with a much broader set of skills, services and capabilities that will be able to provide unmatched levels of service and support in multiple markets and locations. With a significant amount of complementary technologies and experience, we will be extremely well positioned to support a broad array of customer projects and development opportunities with a single point of contact.”

All PWC employees and facilities will become part of Creganna Medical. Together, the company will have more than 2,000 staff worldwide, 450,000 square feet of manufacturing capacity and an operational presence in every major medical device manufacturing hub across the globe, according to officials from Creganna.

Transition to the Creganna Medical brand will be phased across the organization in the coming months.