Water Street Healthcare Partners

Water Street Healthcare Partners, LLC is a private equity firm established in 2005 and headquartered in Chicago, Illinois, with an additional office in Dublin, Ohio. The firm specializes in investments within the healthcare and biotech sectors, focusing on leveraged buyouts, growth capital, and management buyouts of middle-market companies. Water Street typically invests between $20 million and $500 million in companies with an enterprise value ranging from $50 million to $500 million, primarily seeking majority stakes. The firm targets opportunities in consumer discretionary, pharmaceuticals, medical products, diagnostics, and various healthcare services, including employer, payer, provider, and specialty services. Water Street avoids traditional healthcare facilities and early-stage companies lacking positive cash flow, instead favoring established divisions of public companies and large corporations with low-priority business units. The firm aims to invest in North America and seeks to enhance its portfolio through strategic add-ons and technology investments.

Boris Bernstein

Managing Director, Europe

Mike Brennan

Partner

Paty Calderón

Associate

Jeremy Champine

Associate

Steven Cosler

Operating Partner

Nicklaus Daley

Principal

Tim Dugan

Managing Partner

Sam Franco

Associate

Scott Garrett

Operating Partner

Rob George

Principal

Alan Heller

Operating Partner

Dan Malek

Associate

Michael Mirt

Operating Partner

Max Mishkin

Partner

Katie Ossman

Principal

Dan Pascetta

Associate

Grace Rogers

Associate

Hunter Schmidt

Associate

Curt Selquist

Operating Partner

Chris Shanahan

Associate

Peter Strothman

Managing Partner

Kevin Swan

Partner

Christopher Sweeney

Partner

Patrick Teyro

Principal

Ned Villers

Partner

Max Willens

Associate

Robert Womsley

Managing Partner

Michael Zappala

Vice President

16 past transactions

Alcor Scientific

Private Equity Round in 2022
Alcor Scientific is a designer and manufacturer of innovative diagnostic instrumentation and medical devices for the healthcare industry.

Renovo Solutions

Private Equity Round in 2022
Renovo Solutions, founded in 2009, specializes in medical equipment maintenance and management services tailored for healthcare and life sciences organizations. With a strong national presence and partnerships with over 120 clients, the company focuses on reducing equipment maintenance costs and downtime while enhancing patient outcomes. Renovo Solutions offers a range of services, including technology management consultation and various equipment-related support, to help hospitals and integrated health systems optimize their operations and save millions in maintenance expenses.

Medical Guardian

Private Equity Round in 2021
Medical Guardian is dedicated to providing affordable and reliable medical alert services that enable individuals, particularly older adults, to live independently and safely. The company has developed a range of connected-care medical alert systems, including mobile devices and smartwatches, designed to empower users in their daily activities. These systems offer emergency response and protection services for various situations, such as medical emergencies like seizures, strokes, or heart attacks, as well as risks associated with limited mobility, falls, and home safety concerns. By prioritizing the safety and well-being of its customers, Medical Guardian aims to ensure that they can maintain their independence while having peace of mind.

Guardian Medical

Venture Round in 2021
Guardian Medical USA, LLC is a company focused on the design, development, manufacturing, and sale of terminally sterile packaging solutions for medical implants. Established in 2017 and based in Swanton, Ohio, the company specializes in contract sterile packaging services tailored for the medical device market. Its offerings include implant packaging systems, sterile medical packaging tubes, and a range of services encompassing design, validation, inspection, cleaning, manufacturing, labeling, and supply chain management. By leveraging expertise from its partnership with Plastic Technologies, Inc. and input from prominent medical professionals, Guardian Medical aims to deliver innovative and effective packaging solutions that ensure the safety and sterility of medical devices and implants.

Southern Scripts

Private Equity Round in 2021
Southern Scripts is the complexities of navigating through the Pharmacy Benefit Manager world by giving the employer group complete freedom.

Pathnostics

Private Equity Round in 2019
Pathnostics, a diagnostic solutions company, provides diagnostic testing and services across a range of therapeutic areas, including urology, women's health, gastroenterology, and cancer. Its areas of diagnostic testing include urology guidance, hematuria, prostate biopsy, and bladder FISH/UroVysion; women’s health GYN cytology high testing, cytology, and high-risk HPV, and gastrointestinal barrett’s. The company was founded in 2014 and is based in Irvine, California.

Cato Research

Private Equity Round in 2018
Cato Research is a provider of clinical trials and postmarketing research.

Alliance Life Sciences

Acquisition in 2017
Alliance Life Sciences Consulting Group, Inc. offers comprehensive management and technology consulting services tailored for the life sciences sector. The company specializes in areas such as contracting, pricing, reimbursement, and commercial operations. Its product suite includes solutions like MDX for standardizing customer data, PriceRight for price management, PRICENTRIC for competitor pricing analysis, and EXCHANGES360 for business intelligence and advisory services. Additionally, Alliance Life Sciences provides automated membership management through MemberMATCH, alongside life sciences price optimization software. The firm also delivers strategic and operational consulting, program management, and IT services, which encompass IT strategy, business intelligence, agile data warehousing, and application development. Serving a diverse clientele that includes pharmaceutical, over-the-counter, animal health, medical device, and healthcare companies, Alliance Life Sciences operates both in the United States and internationally. Founded in 2001 and headquartered in Somerset, New Jersey, the company also has offices in Europe and Asia.

Health Strategies Group

Acquisition in 2017
Health Strategies Group, Inc. specializes in market intelligence and consulting services for the pharmaceutical and biotechnology sectors. Founded in 1992 and based in Lambertville, New Jersey, the company delivers a range of services including strategic recommendations, marketplace trend assessments, and business planning support. Its offerings encompass segmentation strategy formulation, staff performance benchmarking, and the development of contracting strategies. Additionally, Health Strategies Group evaluates the oncology sales environment, compares sales team performance, and assesses specialty sales opportunities. The firm also provides brand messaging diagnostics and positioning services, translating comprehensive research into actionable insights for its clients. As of December 2017, it operates as a subsidiary of The Access Group.

EBMS

Acquisition in 2017
EBMS is one of the nation’s premier industry leaders in health risk management and third party administration of self-funded health benefit plans, designing strategies to transform the health and wellbeing of individuals, organizations and communities. EBMS is one of the nation’s premier industry leaders in health risk management and third party administration of self-funded health benefit plans. We design strategies to transform the health and wellbeing of individuals, organizations and communities. Our portfolio of health and wellbeing benefit solutions meet the needs of any company, any size and in any location. Since 1980, EBMS has developed a culture, along with a national reputation as an innovative TPA, bringing out-of-the-box solutions and tools to improve the health and wellbeing of our clients’ health plan members. As a pioneer in our industry, many of the healthcare innovations we’ve introduced have been developed from the stated needs of our clients. Examples of these include: onsite clinics and other alternative healthcare delivery models; value-based or metric-based reimbursement strategy; specialty care management programs; mail order and specialty pharmacy programs; and, transparency programs and concierge service.

Viant Medical

Private Equity Round in 2016
Viant Medical is a global provider of vertically integrated custom plastic processing solutions for demanding finished goods medical applications. Expertise in thermoplastic and elastomeric materials, plastics processing, and manufacturing design/ flow/ automation, enables us to offer integrated solutions for the highly specific needs of medical customers. With ten ISO 13485-certified facilities, and Class 7 and 8 clean rooms, MedPlast operates under a single, global quality management system.

The Access Group

Private Equity Round in 2016
The Access Group offers pharmaceutical companies specialized expertise and capabilities that define and communicate drug therapies' value proposition to payers; educate the medical community on new drugs; and create and execute strategies that brand and market their products. Founded in 1998, The Access Group has grown to work with more than 90 pharmaceutical companies on products spanning 75 therapeutic areas from early-stage development through patent expiration. In the past four years, the company has achieved double-digit growth as demand for its services has increased in the escalating regulatory environment.

Custopharm

Private Equity Round in 2015
CUSTOpharm is a customer-focused service company that provides personalized cost-effective chemistry and manufacturing controls (CMC) and regulatory support to companies with limited resources and those seeking to expand into new areas. CUSTOpharm has a strong background in product development (developed 54 sterile products to date, 48injectable products, 2 nasal products, 2 oral products, and 2 sterile ophthalmics), manufacturing, and regulatory affairs (specifically as it relates to electronic submissions). CUSTOpharm filed the first eCTD ANDA with the FDA in 2004, have filed over 170 ANDA's since. This background allows us to visualize the "big picture" of their clients' projects with a marketable finished product as the ultimate goal. This "big picture" approach places CUSTOpharm ahead of other competitors, which focus on specific tasks, not the finished product.

Orgentec Diagnostika

Acquisition in 2014
ORGENTEC Diagnostika GmbH, based in Mainz, Germany, specializes in the development, production, and marketing of diagnostic test systems for laboratory and autoimmune diagnostics. Since its founding in 1988, the company has established itself as a leader in this field, offering over 200 highly specific ELISA tests, as well as immunoblot and immunofluorescence tests for diagnosing autoimmune diseases and infection serology. Their product range includes test systems for monitoring rheumatic diseases, thrombosis, vasculitis, thyroid disorders, gastrointestinal diseases, and diabetes. ORGENTEC also provides software solutions for automated evaluation of test results, sample testing reagents, and barcode management systems. The company markets its products through direct offices in several European countries and an extensive international distributor network, ensuring a broad reach in the global diagnostics market.

CCBR-SYNARC

Private Equity Round in 2013
CCBR-SYNARC’s medical image analysis, biochemical marker, and clinical research center services enable life-science industry clients to execute clinical trials accurately while decreasing the time, uncertainty, and cost of product development. CCBR-SYNARC has partnered with industry leaders to bring numerous leading compounds to market across a broad spectrum of therapeutic areas. Their services integrate critical aspects of clinical trial design and execution, from protocol design and subject recruitment to regulatory liaison on behalf of their clients. Their expert radiologists and scientists are innovators in all aspects of medical image analysis and biochemical markers in drug development, and have pioneered many methods used in today’s clinical trials.

Access MediQuip

Private Equity Round in 2013
Founded in 1997, Access MediQuip was established to provide implant outsourcing to support surgery centers. That vision evolved to define an industry and provide all healthcare constituents an end-to-end solution that creates true business value. Built on the pillars of honesty, trust and integrity we have developed relationships with over 175 manufacturers, more than 2,500 healthcare providers and nearly all national payers. Through our flexible Implant Management Platform we deliver services that begin with preauthorization support and continue through billing and reimbursement. Our solutions, powered by a robust technology platform, enable our partners to meet their business goals while providing patients access to the most effective implant technologies.
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