Vasorum Secures €6m Investment From BGF

25 Feb 2021 | 12.02 pm

Vasorum Secures €6m Investment From BGF

Medical device firm eyes US expansion

25 Feb 2021 | 12.02 pm

Equity investor BGF Ireland has invested €6m in Vasorum, a Dublin-based medical device company specialising in sophisticated devices used to close arterial punctures in vascular, cardiology, radiology and neuro-radiology procedures.

Vasorum developed the CELT Arterial Closure Device  which is used to close femoral artery punctures.  The CELT ACD is a Class III medical device based on a patented platform technology, which was approved by the FDA in 2017, and has been used in over 70,000 patients to date.   

BGF’s investment will be used to accelerate the commercial roll-out of Vasorum’s  ACD in the United States and for new product development.

Chief executive Dr Jim Coleman said: “We are delighted to have secured this investment. BGF shares our vision for growing this business over the coming years and will assist us to realise our ambitions.  I look forward to a bright future as we enter the next phase of development.”

BGF Ireland head Leo Casey added: “Vasorum is the seventh investment which BGF Ireland has closed in the last two years, demonstrating our continued momentum in the market. BGF’s portfolio of Irish business now spans multiple sectors including medical devices, software, aerospace engineering, security and residential construction.”

BGF was advised by Lorcan Tiernan, Partner and Head of Corporate M&A at Dillon Eustace, and supported by M&A solicitor Owen Brayden. UK firm Potter Clarkson provided intellectual property advice while Grant Thornton provided tax counsel.

Vasorum was advised by Clark Hill (legal), Michael Kinsella of BCA (financial) and David O’Flynn of EVA Consulting (commercial).

Photo: Dr Jim Coleman (left) with BGF’s Mark Sykes. (Pic: Chris Bellew / Fennell Photography)

 

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