The combined leadership teams from Vascular Technology and Parks Medical Electronics will drive the platform’s next phase of growth.
NEW YORK–(BUSINESS WIRE)–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 acquisition of Parks Medical Electronics (“Parks” or the “Company”), a leading manufacturer of medical Doppler ultrasound systems for use in hospital, clinic, and veterinary settings, and the Flo-Lab Vascular system, a diagnostic tool used to evaluate blood flow in patients with peripheral arterial disease. The combination of Parks Medical and Vascular Technology represents a significant step towards building a premier medical device company focused on vascular and robotics applications. Through this combination, the Company will be able to provide a complete portfolio of single-use and reusable systems to address Doppler ultrasound needs of healthcare professionals from the office to the clinic to the operating room.
Upon the acquisition, Greg Groenke, CEO of Vascular Technology, Incorporated, said, “We are pleased to work with Parks Medical Electronics and look forward to strengthening a platform that supports hospitals and provides clinicians with excellent care and specialty products that require rigorous specialized manufacturing.”
Parks was founded in 1961 and has built a reputation as being the industry’s most experienced manufacturer of Doppler ultrasound and vascular diagnostic systems. Parks products are manufactured domestically at its Oregon facility, and its products have been widely used for decades. The Company remains committed to consistently manufacturing the most sensitive directional Doppler and physiologic testing equipment on the market.
Lars Marcher, VTI’s chairman of the board said, “Vascular Technology, Incorporated is dedicated to delivering world-class specialty products that clinicians can trust. Working with the Parks leadership team will help us continue to achieve this goal.”
ABOUT PARKS MEDICAL ELECTRONICS
First established in 1961 as Parks Electronics Laboratory, Parks Medical Electronics is an industry-leading manufacturer of Doppler ultrasound systems and vascular labs. Headquartered in Aloha, Oregon, the company was founded by Loren Parks to produce his own plethysmograph designs. With over 60 years of experience, Parks Medical is globally recognized for its innovative Doppler technology, sensitive and robust systems, and exceptional customer service. Its products, including the sixth-generation Flo-Lab system, are used in medical offices, operating rooms, and veterinary practices. Parks Medical continues to design and manufacture its products in the United States, providing long-term support for its instruments.
For more information, please visit www.parksmed.com
ABOUT JLL PARTNERS
JLL Partners, LLC is a middle market private equity firm with over three decades of experience transforming businesses in the healthcare, aerospace and defense, and business services sectors. The Firm is dedicated to partnering with companies that it believes it can help build into market leaders through a combination of strategic mergers and acquisitions, organic growth initiatives, and operational enhancements. The JLL Partners team is comprised of seasoned investment professionals and operating partners who are focused on driving long-term value creation across its portfolio. Since its founding in 1988, JLL Partners has invested approximately $8 billion of equity capital across nine private equity funds, with 60 platform investments and more than 189 add-on acquisitions.
For more information, please visit www.jllpartners.com.
ABOUT VASCULAR TECHNOLOGY, INCORPORATED
Vascular Technology Incorporated is a medical device company specializing in the development, manufacture, and sale of surgical devices, including Intraoperative Doppler Systems and Surgical Suction Irrigation Systems. The Company provides products that are utilized across multiple surgical specialties, including vascular, reconstructive, urology, GI endoscopy, neuro, and robotic surgery. VTI continuously strives to enhance its existing products, as well as develop new products to meet the evolving needs of surgeons. VTI is ISO 13485 Certified and FDA Registered.
For more information, please visit vti-online.com.
Contacts
Eli Kapsack
Profile Advisors
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