The 21-year-old full-back was close to completing a move to Paolo Di Canio's Premier League side but concerns arising from two medical examinations convinced the Black Cats to pull out of the deal.
Serie A club Catania, however, have assessed the Argentinian's long-term leg injury and have decided to take him to the Stadio Angelo Massimino for a reported 3million euro (£2.6m) fee. Contract terms were not disclosed.
A statement published on ilcalciocatania.it read: "Calcio Catania can announce the permanent acquisition of the playing rights of Gino Peruzzi Lucchetti.
"Peruzzi has made four appearances for the Argentina national team and has won the Apertura with Velez Sarsfield in 2012 before the club became champions of Argentina in 2012-13."
Peruzzi becomes the latest key summer signing for coach Rolando Maran in Sicily, following the captures of former Liverpool winger Sebastian Leto, ex-Lyon full-back Fabian Monzon and Greek midfielder Panagiotis Tachtsidis, who left Genoa.
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