TE Connectivity Unplugs Broadband, Plugs In Med Sensors

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David Dawson via PBJ
A typical medical sensor--David Dawson via PBJ

For TE Connectivity, which hosts its U.S. operations in Berwyn, 2015 is significantly reshaping the face of the electronic connection innovator.

The $13-billion-a-year seller of transportation, industrial, network and consumer solutions trimmed its broadband network solutions unit a month ago and has now turned its focus to medical sensors, acquiring catheter company AdvancedCath last week.

“Our decision to sell our BNS business reflects our strategy to continue focusing on and expanding our leadership position in the attractive connectivity and sensor markets, with particular emphasis on harsh environment applications,” Chairman and CEO Tom Lynch said in a Philadelphia Business Journal report. “These markets represent a $165 billion opportunity for TE and have strong growth rates and attractive profit levels driven by the global trends of a safer, smarter, greener and more connected world.”

TE sold the unit for $3 billion and purchased AdvancedCath for $190 million.

“Today’s OEMs are developing innovative procedures that are minimally invasive to improve outcomes and quality of care,” executive Terrence Curtin said in a separate Philadelphia Business Journal report. “The combination of TE’s connectivity and sensor solutions with AdvancedCath’s expertise in the medical device market provides customers with an unmatched set of capabilities and technologies that enable future innovations and medical advances.”

Read more about the deals in the Philadelphia Business Journal here (BNS sale) and here (AdvancedCath acquisition).

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