JLL Partners acquires Parks Medical Electronics to expand vascular device portfolio

JLL Partners, a New York-based private equity firm focused on health care and other middle market sectors, has acquired Parks Medical Electronics, a U.S. manufacturer of medical Doppler ultrasound systems and vascular diagnostic tools.

The acquisition brings together Parks Medical and Vascular Technology, Inc. (VTI), in what the companies called a step toward building a premier medical device platform focused on vascular and robotics applications. The combined company will offer a broader range of single-use and reusable Doppler ultrasound systems for hospitals, clinics, and surgical settings.

“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,” said Greg Groenke, CEO of Vascular Technology.

Founded in 1961 and based in Aloha, Oregon, Parks Medical is known for its sensitive directional Doppler and physiologic testing equipment, including the Flo-Lab Vascular system used to assess blood flow in patients with peripheral arterial disease. The company designs and manufactures its products domestically and has built a global reputation for innovation and reliability.

Lars Marcher, VTI’s chairman of the board, said the partnership builds on both companies’ strengths in precision medical technology. “Vascular Technology, Inc. is dedicated to delivering world-class specialty products that clinicians can trust,” he said. “Working with the Parks leadership team will help us continue to achieve this goal.”

JLL Partners, which has invested about $8 billion across nine private equity funds, said the transaction aligns with its strategy of building market-leading healthcare companies through targeted acquisitions and operational growth.