GTCR Golder Rauner will invest up to $250 million in equity into a partnership with healthcare executive Thomas Daulton to create a medical device platform.
Dubbed Devicor Medical Products, the resulting company will be headquartered in Wisconsin and purchase medical device companies and products.
The company will be led by Daulton, a former senior executive at $87 billion medical device maker Cardinal Health.
GTCR typically partners with industry executives to establish its platform companies, most recently having done so in the human resource information sector. Last month it agreed to invest up to $200 million to form ExcelusHR with former First Advantage chief executive John Long.
Both investments are being made from GTCR Fund IX, which closed on $2.75 billion in October 2006. The 28-year-old private equity firm has more than $8 billion under management.