SurModics acquires Irish balloon catheter developer to further business transformationSurModics acquires Irish balloon catheter developer to further business transformation

Medical coatings specialist SurModics Inc. (Eden Prairie, MN) announced today that it has acquired Ireland-based Creagh Medical Ltd. (Ballinasloe), a developer and manufacturer of percutaneous transluminal angioplasty (PTA) balloon catheters. The approximate purchase price of $32 million includes an upfront payment of $19 million, and up to $13 million based on achievement of revenue and value-creating operational milestones. Other terms of the agreement were not disclosed. The acquisition is described by SurModics, a supplier of coating technologies to medical device OEMs, as a step in its transformation into a product solutions provider for the global interventional vascular market.