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Te Connectivity Completes Acquisition Of The Creganna Medical Group

The following excerpt is from the company's SEC filing.

SCHAFFHAUSEN, Switzerland April 4, 2016 TE Connectivity Ltd. (NYSE: TEL), a world leader in connectivity and sensors, announced today that it has completed the previously announced acquisition of the Creganna Medical Group (Creganna).

Creganna is a global leader that designs and manufactures minimally invasive delivery and access devices serving medical device original equipment manufacturers (OEMs). The company, headquartered in Ireland, reported sales of approximately $250 million in 2015.

The acquisition of Creganna advances our strategy to be the industry leader in high-growth harsh environm ent applications where failure is not an option, said Tom Lynch, TE Connectivity chairman and CEO. Cregannas products are used in life-saving medical treatments and surgical procedures where the highest levels of quality, reliability and performance are essential. Combining Creganna with TEs existing medical business establishes TE as a leader in the attractive minimally-invasive interventional segment of the medical device market. TE now has the most complete product and capability offering in the industry, and is a fully integrated strategic supplier to major OEMs. We look forward to offering our customers the most innovative solutions for their needs and welcoming the talented team from Creganna to TE.

The business will be reported as part of TEs Industrial Solutions segment.

Forward-looking Statements

This release contains certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements...