JLL Partners (“JLL” or the “Firm”), a New York-based middle market private equity firm focused on investing in the healthcare, aerospace and defense, and business services sectors, today announced its investment in Vascular Technology, Incorporated (“VTI” or the “Company”), a medical device company specializing in innovative surgical devices and single-use consumables for the operating room.
Through this transaction, JLL partnered with entrepreneur Nilendu Srivastava and the rest of the VTI management team to execute on a shared vision of accelerating the Company’s growth and expanding its portfolio of innovative products.
To that end, JLL is pleased to announce the appointment of Greg Groenke as Chief Executive Officer and Lars Marcher as Executive Chairman. Greg brings more than 25 years of leadership across medical devices and diagnostics with a demonstrated track record in scaling businesses and delivering technological breakthroughs. Lars Marcher, who formerly served as CEO of Ambu A/S, brings extensive experience building global medical technology companies that provide real innovation to the healthcare marketplace.
Upon joining VTI, Greg Groenke said, “I am thrilled to join VTI at this exciting juncture. 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.”
Lars Marcher said, “Today’s medtech landscape requires companies and teams to innovate boldly. 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.”
Founded in 1985, VTI is a leader in single-use intraoperative Doppler products and remote suction and irrigation solutions. Intraoperative Dopplers are used in surgical procedures to provide non-invasive, real-time assessment of blood flow through blood vessels. The technology has broad applications in neurosurgery, vascular surgery, reconstructive surgery, microsurgery and urology. The Company’s remotely operated suction irrigation system allows surgeons to control fluid removal and delivery autonomously during robotic surgery. VTI is headquartered in Nashua, NH, and has approximately 60 employees.
Dan Di Piazza, Managing Director at JLL Partners said, “VTI’s innovative technology improves surgical outcomes while driving better efficiency in the operating room. Under Greg’s leadership and Lars’s strategic oversight, we are confident VTI will achieve new levels of innovation and market expansion.”
MedWorld Advisors served as financial advisor to VTI and Moelis & Company LLC served as financial advisor to JLL.
