Permira funds acquire majority shareholding in Creganna-Tactx Medical

Galway, Ireland [October 6th, 2010] A company backed by the Permira funds has reached an agreement to acquire a majority shareholding in Creganna-Tactx Medical, a leading global medical technology company. Altaris Capital Partners, LLC, a current shareholder of Creganna-Tactx Medical, will sell its full interest in the company and other existing shareholders will continue as investors in the business.

Creganna-Tactx Medical is a leading global provider of outsourced solutions to medical device manufacturers. The company specializes in design and manufacturing of delivery devices for minimally and less invasive therapies. It provides a complete range of solutions to assist medical device and life science companies get products from concept to production. The firm has a global presence with manufacturing sites in Ireland, USA, Singapore and Korea. Serving over 240 customers, Creganna-Tactx Medical is a preferred partner to the world’s leading medical device companies.

Creganna-Tactx Medical operates in growing markets driven by the increasing popularity of minimally invasive surgery, a cost-effective time-saving technique, and by the need for further outsourcing by medtech companies. The Permira funds’ investment will support the management’s expansion strategy as the company continues to grow organically and look for further consolidation opportunities in this highly fragmented market. Chairman Ian Quinn and CEO Helen Ryan have led the company’s successful expansion to date and will continue in their respective roles.

The terms of the agreement were not disclosed.

Helen Ryan, CEO of Creganna-Tactx Medical said:

“Today’s announcement is another key landmark in fulfilling our vision for growth at Creganna-Tactx Medical and we welcome Permira funds as our new partner in delivering on this strategy. Their investment and commitment to the company will enable us to rapidly grow to meet the evolving needs of our customers for full-service partnership.”

Sally Flanagan, Head of the healthcare team at Permira, added:

“Creganna-Tactx Medical is a highly resilient business with strong growth opportunities in a fragmented market. Their leading technology and close customer relationships provide a strong platform for further growth and we are delighted to be able to back such a talented management team as they continue to expand.”

About Creganna-Tactx Medical

Creganna-Tactx Medical is a leading supplier of products, technologies and services to medical device and lifescience companies worldwide. Creganna specialize in the design and manufacture of minimally & less invasive delivery and access devices for a range of therapies. Headquartered in Galway, Ireland, Creganna-Tactx Medical employs 1,000 people worldwide and has design and manufacturing operations in the US (CA, MN & MA) and Asia (Singapore.)

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About Permira

Permira is a private equity firm with a European heritage and a global reach. The firm advises funds with a total committed capital of approximately €20 billion. The Permira funds, raised from pension funds and other institutions, make long-term investments in companies with the ambition of transforming their performance and driving sustainable growth.

Permira is wholly independent and owned by its Partners. The firm”s teams are based in Frankfurt, Guernsey, Hong Kong, London, Luxembourg, Madrid, Menlo Park, Milan, New York, Paris, Stockholm and Tokyo. They specialise in five key sectors of activity: Consumer, Financial Services, Healthcare, Industrials and TMT.

The Permira Funds have made over 190 private equity investments since 1985 and have returned €16 billion to their investors over the past decade. Current investments include Birds Eye Iglo, New Look, All3Media and AA Saga.

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About Altaris

Altaris Capital Partners, LLC is an investment firm focused exclusively on the healthcare industry. Based in New York, Altaris partners with talented management teams in the United States and Western Europe to build businesses that meet clearly defined healthcare needs.

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For further information:

Maura Leahy, Creganna-Tactx Medical

Tel: +353 91 735229


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