Integer has acquired Connemara Biomedical Holdings Teoranta along with its operating subsidiaries Aran Biomedical and Proxy Biomedical, which are collectively called Aran Biomedical.
The company bought Aran Biomedical in a deal worth $130.7m (€120m), with an additional payment of up to $10.89m (€10m) contingent on the latter’s achievement of 2022 revenue growth milestones.
Integer used borrowings under the company’s existing revolving credit facility for the deal.
Aran Biomedical offers design, development and manufacturing solutions for implantable medical devices.
It also delivers medical textiles and biomaterial coverings and coatings, as well as advanced metal and polymer braiding.
The company converts concepts into implantable solutions using biomaterials expertise and quality assured processing capabilities.
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Integer stated that the acquisition of Aran Biomedical further increases its ability to provide complete solutions for complex delivery and therapeutic devices in cardiovascular markets, such as peripheral vascular, neurovascular, endovascular, structural heart and general surgery.
Integer president and CEO Joe Dziedzic said: “The acquisition of Aran Biomedical is entirely aligned with our strategy to expand our presence in high growth markets.
“Aran brings subject matter expertise and highly differentiated implant technology solutions to our portfolio.
“Coupling these technology solutions and expertise with Integer’s leadership in delivery systems and manufacturing scale will bring an unparalleled ability to meet our customers’ needs and be their partner of choice for developing the next generation of lifesaving and life-enhancing medical devices.”
Following the acquisition, Aran’s 130 associates joined the Integer team.
Aran Biomedical CEO Peter Mulrooney said: “Combining Aran Biomedical’s proprietary biomaterial implant technologies with Integer’s world-class delivery systems will lead to a more highly differentiated service offering to the medical device industry.”