Lighteum Medical’s new Indian American chief executive officer Gaurav Agarwal plans to focus on customer needs, speed and execution as the precision medical components maker seeks to strengthen its market position.
Agarwal brings nearly 30 years of leadership experience across medical devices, diagnostics and health care technology, including work with private equity-backed businesses undergoing growth and transformation.
Agarwal, who joined the company on Aug. 31, says, he plans to spend time with customers to understand their needs and work with the company’s team to help address their challenges.
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He also emphasized Lighteum’s technical expertise and manufacturing capabilities as important to developing precision-engineered solutions for minimally invasive medical devices.
“Lighteum brings together deep technical expertise and differentiated manufacturing capabilities to solve complex challenges for our customers,” Agarwal stated. “I look forward to spending time with them, understanding their needs and working with our team to help them succeed.”
Gregory T. Lucier, chairman of Lighteum Medical’s board, described Agarwal as a growth-oriented executive with experience building high-performing organizations. Lucier also pointed to his ability to establish focused strategies and translate them into disciplined execution and sustained performance.
The appointment follows the combination of Medical Device Components LLC (MDC) and Lighteum LLC last year bringing together MDC’s precision manufacturing expertise and Lighteum LLC’s emphasis on speed and innovation.
The combined company is focused on becoming a leading provider of precision precious metal and nitinol components for medical technology applications.
Lighteum Medical specializes in platinum-group metals and complex nitinol-based solutions. The company’s manufacturing capabilities include metallurgy, micromachining, femtosecond laser processing, shape-setting and electropolishing.
Agarwal joins from Capsa Healthcare, where he most recently served as president and CEO. During his tenure, the private equity-backed company implemented a new value-creation plan and recorded more than 20% growth in both revenue and earnings before interest, taxes, depreciation and amortization over 18 months. Capsa also completed two acquisitions and expanded into software and services, according to Lighteum Medical.
Before Capsa, Agarwal served as president and CEO of Vyaire Medical and held senior leadership roles at Acelity/KCI, Smith & Nephew and GE Healthcare. At Acelity/KCI, he held global commercial and business leadership positions during a period of growth and portfolio transformation that preceded the company’s $6.725 billion sale to 3M.
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Across his career, Agarwal has been involved in more than $15 billion in mergers and acquisitions and more than $11 billion in private equity dispositions, the company stated.
Lighteum Medical is a portfolio company of private equity firm Montagu which operates manufacturing and technology centers in San Diego and Oceanside, California; Mexicali, Mexico; and Tullamarine, Australia.