Creganna-Tactx Opens First Office in China

Creganna-Tactx Medical, a Galway, Ireland-based provider of medical device outsourcing solutions, has opened its first representative office in China.

According to company officials, the new office was established to build upon the company’s existing presence in the market by forging deeper partnerships with its foreign and domestic customer base in China. Prior to this, the company sold to and exported into the Chinese market, but didn’t have a facility in the country. Located in Shanghai, the office is locally staffed with industry-experienced professionals who are experts in all facets of the domestic healthcare market, according to Creganna-Tactx.

Along with providing enhanced commercial, technical and customer-service support to the company’s customers in China, the team also will assist customers to identify and develop leading products customized to local market requirements.

“Since entering the Chinese market 10 years ago, we have experienced yearly double-digit revenue growth,” said David O’Keeffe, vice president of global sales and marketing at Creganna-Tactx Medical. “This mirrors the growth of the overall healthcare sector in Asia. The Chinese medical device market alone has doubled in value since 2006 and with yearly growth rates estimated in the region of 20 percent, industry analysts predict it to become the world’s third-largest after the U.S. and Europe by 2020.” 

Commenting on the opening of the representative office, Graham Reeves, the company’s general manager for Asia said: “The Chinese market continues to present a significant opportunity for us. By establishing this local presence and supporting infrastructure we are better positioned to continue to be a partner to our customers in this market. Our investment is a reflection of the significance of the Chinese market to our overall growth plans and our commitment to maximize that opportunity.”

Leading the new representative office is Jim (Quan) Shen. Before joining Creganna-Tactx, he worked at McKinsey & Company, Shanghai, where he advised international life-science companies on market entry and product launch strategies for China. Shen previously held various commercial positions with GE Healthcare and Covidien in China and completed his radiology residency training at Zhongshan Hospital, Shanghai. He holds a master’s degree in clinical medicine from the Medical School of Fudan University in Shanghai and an MBA degree from the Tuck School of Business at Dartmouth University in New Hampshire. The company selected Shanghai as its preferred location for its first representative office as it is home to a large cluster of existing customers and favored among leading medical device companies, including Medtronic Inc., Boston Scientific Corp., Covidien plc and Microport, a key domestic player. Creganna-Tactx Medical specializes in the design and manufacture of minimally invasive access and delivery devices for a range of therapies. In the United States, the company has facilities in California, Minnesota and Ohio (Cleveland Clinic).