Private equity firm jumps into vascular health with new investment
JLL Partners, a New York-based private equity firm, has finalized a new investment in Vascular Technology Incorporated (VTI), a New Hampshire-based medical device company focused on vascular health, robotic surgery and other healthcare specialties.
VTI has been in business for 40 years now, developing and manufacturing devices that surgeons utilize in their operating rooms on a daily basis. The company’s many Doppler systems, for example, are used to deliver real-time data on a patient’s vascular health.
JLL, meanwhile, primarily focuses on the healthcare, aerospace & defense and business markets. To date, the firm has invested approximately $8 billion of equity capital across nine private equity funds. This includes 60 platform investments and 183 add-on acquisitions.
New leaders for a new era
JLL also announced some leadership changes that coincide with its new investment. Greg Groenke and Lars Marcher, two veterans of the medical device industry, have been named CEO and executive chairman, respectively.
“I am thrilled to join VTI at this exciting juncture,” Groenke said in a statement. “VTI has an exceptional history of innovation, and I look forward to working alongside our talented team to further advance our technologies, broaden our market reach and continue delivering critical surgical tools that improve patient outcomes.”
“Today’s medtech landscape requires companies and teams to innovate boldly,” added Marcher. “VTI has already built a strong foundation, and I’m committed to strengthening its global trajectory by energizing our people, enhancing our offerings, and delivering real impact to our customers and the communities they serve.”
VTI and JLL plan on kicking off this new working relationship by ramping up the company’s growth by expanding its portfolio.
“VTI’s innovative technology improves surgical outcomes while driving better efficiency in the operating room,” Dan Di Piazza, managing director at JLL Partners, said in the same statement. “Under Greg’s leadership and Lars’s strategic oversight, we are confident VTI will achieve new levels of innovation and market expansion.”
Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.