Singapore, Mar 29, 2010: Creganna, a leading supplier of technologies and services to medical device and life sciences companies in Ireland has acquired Avalon Medical Services, a Singapore-based manufacturer specializing in catheters and delivery systems.

Avalon was set up in 2003 by Tactx Medical and has nearly 46 employees. The company now called as Creganna—Tactx Medical will be positioned as one of the key players in the technologies and services for minimally invasive delivery and access devices. Creganna has been working with international players, such as Biosensors and MicroPort, who have presence in Asia; and some of its other customers in the region include Goodman, OrbusNeich, Dailian Yin Yin and Synex Medical Products.

In an exclusive interview with BioSpectrum, Ms Helen Ryan, CEO of Creganna-Tactx Medical, Ireland, shares her views on the current market opportunity for the company in Asia.

What are your views about Asia Pacific as a market for Irish companies like Creganna—Tactx Medical?

We have seen a significant growth in Asia. Over the last three years, Asian region is the fastest growing geographic segment for our business. The growth is mainly in countries like Singapore, China and Japan. I think more European and American companies have been setting up their operations because of the growing market in the region.

Singapore is emerging as a major business hub as it has the advantage and potential to serve the entire Asian region. It is very well positioned to do business because of its friendly environment supported by economic development agencies. I am also impressed with the availability of qualified and motivated local people, which is a huge advantage for the region.

What is the growth rate you will be looking at from the Asian region?

As a combined company, Creganna—Tactx Medical offers a complete range of technologies and services for minimally invasive delivery and access devices, with a specialist competency in the design and manufacturing of high-end therapeutic catheters. We provide minimally invasive medical devices for clinical applications including interventional cardiology, neurology, peripheral vascular, cardiac rhythm management and endoscopy. We have over 20 percent year-on-year growth in Asian region in the last three years. Globally the overall market for our range of products offering is growing at nine percent. And we feel the growth rate in Asia Pacific is higher than the global growth rate.

Currently, we have an agent, who has been operating from Japan and covering the Asia Pacific region. The agent looks for the opportunity for the company. For a short time we will continue to follow this strategy. However, we will be reviewing our strategy of growth for the company.

With the acquisition of Tactx Medical are you looking at expanding Creganna’s operations in Singapore?

As a short term plan, we will continue the strategies followed by Tactx Medical. As part of the strategy employee strength at the Singapore facility will get increased to 65 in six to nine months. Now, as a joint organization, we have started to look at doing more business in the region. We see huge potential in the region with Medtronic, one of our customers, moving into Singapore. We see a fast and significant growth in the Singapore. We will also consider having a sales and marketing presence based out in Singapore. The market for minimally invasive medical devices continues to grow. In parallel, the market for outsourced products and services is also evolving and forecast to grow.

How is the opportunity for OEM players with regard to the medical devices and technologies?

Overall, original equipment manufacturers (OEMs) have an excellent opportunity. The industry itself is growing globally at about nine percent. The customers with whom we work with prefer outsourcing, which has a market growth of 15 percent. Growth is also visible from the new emerging markets like India as it is developing as a potential market for our products. We are looking at supplying all the range of products to India with Singapore as a base in near future. The combination of Creganna and Tactx Medical will give us a strongest position within the top ten global providers of technologies and services to minimally invasive medical device companies.