Water Street Healthcare Partners

Water Street Healthcare Partners, LLC, established in 2005, is a private equity firm headquartered in Chicago, Illinois, with an additional office in Dublin, Ohio. The firm specializes in investing in middle market companies within the healthcare and life science sectors, focusing on leveraged buyouts, recapitalizations, and growth capital. It seeks to invest in companies with enterprise values ranging from $50 million to $500 million, typically committing between $20 million to $500 million per investment. Water Street Healthcare Partners takes majority stakes in its portfolio companies, which can include low priority business units or subsidiaries of large corporations, or divisions of public companies. The firm's investment focus spans across various healthcare sub-sectors such as pharmaceuticals, medical products, diagnostics, and healthcare services, excluding traditional healthcare facilities. It also considers investments in talent and technology. Water Street Healthcare Partners aims to partner with management teams to drive operational improvements and growth, ultimately enhancing the value of its portfolio companies.

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

Chris Shanahan

Associate

Peter Strothman

Managing Partner

Kevin Swan

Partner

Patrick Teyro

Principal

Ned Villers

Managing Partner

Max Willens

Associate

Rob Womsley

Managing Partner

Michael Zappala

Vice President

Robert Womsley

Managing Partner

18 past transactions

MedSpeed

Private Equity Round in 2024
MedSpeed is a logistics and transportation company founded in 1999 by Jake Crampton, aimed at transforming healthcare transportation through innovative solutions. Specializing in intra-company logistics, MedSpeed facilitates the efficient movement of patient- and business-critical items for healthcare organizations. With over 100 operational launch points across 28 states, the company serves some of the largest and most complex healthcare systems in the United States. MedSpeed's services include same-day delivery of health specimens, pharmaceuticals, and medical supplies, along with strategic business analysis to enhance operational efficiency. Despite its growth, MedSpeed maintains a small business ethos, fostering an entrepreneurial culture that emphasizes strong relationships with clients and a commitment to delivering meaningful cost savings and improved healthcare outcomes.

Alcor Scientific

Private Equity Round in 2022
Alcor Scientific is a designer and manufacturer of innovative diagnostic instrumentation and medical devices tailored for the healthcare industry. The company specializes in serving clinical diagnostics laboratories, rheumatologists, hematologists, and medical institutions. Its product offerings include enteral feeding pumps, administration sets, and an automated erythrocyte sedimentation rate (ESR) analyzer. By focusing on research and development, Alcor Scientific aims to enhance patient care by enabling immediate analysis of ESR results, ultimately benefiting patients and their families.

Renovo Solutions

Private Equity Round in 2022
Renovo Solutions, founded in 2009, specializes in medical equipment maintenance and management services for healthcare and life sciences organizations. With a substantial national presence, the company partners with over 120 clients to enhance equipment management and reduce maintenance costs. Renovo Solutions focuses on minimizing equipment downtime and improving patient outcomes through effective consultation and support services related to medical technology. By delivering these services, the company has successfully saved its clients millions of dollars while ensuring that healthcare facilities operate efficiently and effectively.

Guardian Medical

Venture Round in 2021
Guardian Medical, established in 2019 and headquartered in Swanton, Ohio, specializes in the design, development, manufacturing, and distribution of terminally sterile packaging solutions for medical implants and devices. As a joint venture with Plastic Technologies, Inc. and a prominent orthopedic surgeon, the company leverages over 30 years of expertise in plastics manufacturing to create innovative and advanced packaging solutions tailored for the medical industry. By combining extensive knowledge in plastics with the expertise of medical device engineers, Guardian Medical ensures the safety and sterility of medical devices, providing clients with unique and efficient packaging services that meet the stringent requirements of the healthcare sector.

Medical Guardian

Private Equity Round in 2021
Medical Guardian is dedicated to providing affordable and reliable medical alert services that empower older adults to live independently and safely. The company develops connected-care medical alert systems, mobile devices, and smartwatches designed to assist individuals in emergencies, including medical crises such as seizures, strokes, or heart attacks, as well as risks associated with aging, such as falls and home invasions. Medical Guardian's mission is to ensure that its customers feel secure in their daily lives, enabling them to maintain their independence while having access to emergency response and protection services when needed.

Southern Scripts

Private Equity Round in 2021
Southern Scripts is a pharmacy benefit management solution that streamlines PBM contracts. They provide employers with the tools to access prescription medication in order to achieve optimal health outcomes. Their clinical management program and high-performance drug formularies deliver the lowest net cost to protect plans from unnecessary expenses.

Pathnostics

Private Equity Round in 2019
Pathnostics is a diagnostic solutions company based in Irvine, California, founded in 2014. The company specializes in diagnostic testing and services across various therapeutic areas, including urology, women's health, gastroenterology, and cancer. Pathnostics offers a range of diagnostic tests, such as urology guidance, hematuria assessments, prostate biopsy analysis, and bladder FISH/UroVysion tests, as well as high-risk HPV testing and GYN cytology in women's health. Additionally, the company provides services in anatomic pathology, molecular pathology, and cancer diagnostics. Utilizing proprietary technology that combines phenotypic sensitivity with genotypic resistance, Pathnostics aims to deliver accurate diagnoses and personalized therapy options, particularly for infectious diseases and cancer, ensuring that clients receive the appropriate identification and treatment for their conditions.

Cato Research

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

Health Strategies Group

Acquisition in 2017
Health Strategies Group, Inc. is a consulting firm that specializes in market intelligence for the pharmaceutical and biotechnology sectors. Founded in 1992 and based in Lambertville, New Jersey, the company focuses on providing research-based sales and marketing insights, strategic recommendations, and customized research services. Its offerings include the assessment of marketplace trends, future scenarios, and business planning support, alongside the development of segmentation strategies and performance measurement services. The firm also evaluates the oncology sales environment, compares sales team performance, and assesses specialty sales opportunities. By transforming complex research data into actionable business insights, Health Strategies Group enables its clients to navigate challenges and seize opportunities within the competitive landscape of the healthcare industry. As of December 2017, the company operates as a subsidiary of The Access Group.

Alliance Life Sciences

Acquisition in 2017
Alliance Life Sciences offers consulting and information technology services specifically tailored for life science organizations. The company specializes in strategic and management consulting, program management, and business process improvement. Additionally, it provides services in contract lifecycle management, business process outsourcing, and data warehousing. By working with pharmaceutical manufacturers, mid-market life science companies, and various medical device and diagnostic firms, Alliance Life Sciences aims to enhance their clients' competitive edge and optimize outcomes in a complex global marketplace.

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

Private Equity Round in 2016
Viant Medical is a global provider of custom plastic processing solutions specifically designed for the medical device industry. The company specializes in the design and manufacture of medical devices, focusing on areas such as surgical technologies, orthopedics, diagnostics, and patient care. Viant offers a comprehensive range of services, including engineering, manufacturing, assembly, packaging, and sterilization of medical products. With ten ISO 13485-certified facilities and Class 7 and 8 clean rooms, the company operates under a unified global quality management system to meet the stringent requirements of its clients. By delivering integrated solutions tailored to the specific needs of original equipment manufacturers (OEMs), Viant helps clients enhance their product offerings, optimize supply chains, and improve quality while managing costs effectively.

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 service-oriented company that specializes in providing personalized and cost-effective chemistry and manufacturing controls (CMC) and regulatory support for businesses with limited resources or those looking to expand. The company has a strong foundation in product development, having created 54 sterile products, including 48 injectable products, alongside nasal, oral, and sterile ophthalmic formulations. CUSTOpharm excels in sourcing difficult-to-obtain raw materials and addressing formulation and analytical challenges. With a notable history in regulatory affairs, it pioneered the first electronic Common Technical Document (eCTD) Abbreviated New Drug Application (ANDA) submission to the FDA in 2004 and has since filed over 170 ANDAs. This extensive experience enables CUSTOpharm to maintain a comprehensive perspective on clients' projects, focusing on delivering marketable finished products rather than merely completing individual tasks.

Orgentec Diagnostika

Acquisition in 2014
ORGENTEC Diagnostika GmbH, founded in 1988 and based in Mainz, Germany, specializes in the development, production, and marketing of test systems for laboratory and autoimmune diagnostics. The company offers a range of products including ELISA test systems for diagnosing various diseases such as rheumatic conditions, thrombosis, ANCA and vasculitis, thyroid disorders, gastroenterology issues, diabetes, and autoimmune disorders of the gastrointestinal tract. Additionally, ORGENTEC provides Immunoblot test systems for antibody detection, iVISION Scanware software for automated evaluation of immunoblot tests, and Immunofluorescence assays for detecting autoantibodies. The company also offers Sensotronic Memorized Calibration reagents, barcode management software, and solutions for system liquid supply and touch screen control. ORGENTEC markets its products through offices in Germany, Austria, Hungary, France, and Switzerland, as well as through a global network of distributors.

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.

Medical Specialties Distributors

Acquisition in 2010
Medical Specialties Distributors, LLC is a full-service distributor of healthcare products primarily serving the home infusion, specialty pharmacy, and oncology markets. Founded in 1984 and based in Stoughton, Massachusetts, the company offers a wide range of products, including infusion pumps, IV supplies, pharmaceuticals, and various medical surgical products. They manufacture several specialized kits and devices, such as dressing change kits and IV administration sets, and provide additional services like biomedical equipment rental, maintenance, and repair. The company also supports clients with equipment management software and online training programs to enhance product utilization and operational efficiency. Medical Specialties Distributors operates a national network of distribution centers and an online ordering platform, with additional locations in Phoenix, Arizona; Bedford, Ohio; Gurnee, Illinois; and St. Louis, Missouri. As of June 2018, it operates as a subsidiary of McKesson Corporation.
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