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Bioclinica Expands Services with Clinverse Acquisition

Bioclinica®, Inc., a specialty clinical trials services and technology provider, announced today that it has acquired Clinverse, Inc.

The acquisition expands Bioclinica’s offerings into the growing market of automated financial management technology solutions for global clinical trials. Clinverse is the latest investment that Bioclinica has completed to build the company into a leading provider of solutions that bring quality and efficiency to every phase of clinical trial development.

Headquartered in Durham, North Carolina, Clinverse automates and manages the entire financial lifecycle of global clinical trials for contract research organizations (CROs) and pharmaceutical companies. Its suite of products pays clinical trial sites, vendors and their subjects; budgets and forecasts trial expenditures and converts tax and exchange rates in more than 200 countries and 140 currencies globally. Clinverse’s products also can be integrated with other eClinical platforms. The company’s services have saved CROs and pharmaceutical corporations as much as 50 percent of their operational costs.

“We are delighted to add Clinverse’s capabilities to Bioclinica’s portfolio of solutions,” said Dr. John Hubbard, president and chief executive officer, Bioclinica. “Managing clinical investigator payments has been a significant challenge for our industry. For years, sponsors have manually tracked and paid clinical trial sites. Clinverse developed one of the first automated solutions to alleviate companies of this burden. The company is making a significant impact in reducing costly errors, improving satisfaction and increasing operational efficiencies to mitigate this major pain point in drug development.”

Clinverse will become part of Bioclinica’s eHealth Solutions business segment, which offers technology solutions to support pharmaceutical companies and CROs in the efficient management and conduct of clinical trials, as well as Safety and Regulatory Solutions. In addition to eHealth technologies, Bioclinica offers a comprehensive portfolio of services encompassing medical imaging and biomarkers, patient recruitment and retention services, a research site network and a post approval research division. The company has invested in strategic initiatives and acquisitions to expand its capabilities and services since merging with CCBR-SYNARC in 2014 to become a leading clinical trial services provider.

“We are excited to join Bioclinica,” said Jay Trepanier, chief executive officer, Clinverse. “This partnership will accelerate our goal of becoming the best-in-class solution for financial services in the clinical trial industry. Our relationship will allow us to strengthen our operational capabilities out of the gates, while we continue to aggressively invest in enhancing our technology and services. Our customers will benefit from becoming part of an innovative leader in the industry that offers extensive resources and services. We also look forward to bringing our specialized expertise to Bioclinica’s clients.”

Trepanier will continue to lead Clinverse and report to Mukhtar Ahmed, president of Bioclinica’s eHealth Solutions Segment.

About Clinverse, Inc.

Clinverse, Inc. architected the industry’s first automated financial management technology solution for clinical trials. Powered by our secure technology platform, our solution standardizes clinical trial financial management for millions of financial transactions across the globe, including clinical site payments. Used by leading BioPharma companies, our solutions remove antiquated manual process so our clients benefit from reduced workload, time and costs gained through automation and unprecedented transparency and workflow. For more information, please visit

About Bioclinica, Inc.

Bioclinica is a specialty services provider that utilizes expertise and technology to create clarity in the clinical trial process. Bioclinica is organized into three business segments to deliver focused service and multifaceted technologies. The Medical Imaging and Biomarkers segment provides medical imaging and cardiac safety services and includes a molecular marker laboratory. The eHealth Solutions segment comprises an eClinical technologies and professional services along with safety and regulatory solutions. Under the Global Clinical Research segment, Bioclinica offers a network of research sites, patient recruitment-retention services, and a post-approval research division. The company serves more than 400 pharmaceutical, biotechnology, and device organizations – including all of the top 20 – through a network of offices in the U.S., Europe and Asia. For more information, please visit


Zenith American Solutions Acquires Benserco

Zenith American Solutions, Inc.® (Zenith), a leading third-party benefits administrator, announced today that it has acquired Benserco, Inc., a company specializing in Taft-Hartley benefit plan administration.

The acquisition expands Zenith’s national presence and strong base of clients. The company is continuing to pursue targeted acquisitions that support its goal of building Zenith into a premier national service provider.

Zenith currently administers benefits to nearly 2 million employees, retirees and dependents on behalf of multi-employer Taft-Hartley trust funds, trade associations, government entities and corporate employers. Since its founding in 1944, the company has steadily grown to serve an increasing number of clients. In 2008, Zenith partnered with Water Street Healthcare Partners, a strategic investor focused exclusively on the healthcare industry, to accelerate its growth. By joining forces with Benserco, Zenith bolsters its presence in the Northeast and offers complementary solutions to a larger group of clients.

“Bringing together Benserco and Zenith was a great opportunity. Our companies are closely aligned with our offerings and our commitment to providing clients with outstanding service,” said Art Schultz, chief executive officer, Zenith American Solutions. “We are excited to work with Benserco to identify new ways to provide greater value to our clients in today’s increasingly complex regulatory environment.”

Effective immediately, all three of Benserco’s companies, including Benserco, Benefit Services of PA, Inc. and Dentsco, Inc., become part of Zenith American Solutions. Lucille Hart, who has served as president of Benserco, will continue to lead the organization and report to Mr. Schultz.

“We are very pleased to partner with Zenith. It has an outstanding reputation for offering high-quality services and shares our values of going above and beyond to serve its clients,” said Ms. Hart. “I look forward to leveraging our combined expertise and capabilities to support employees participating in the Taft-Hartley plans we serve.”

About Benserco, Inc.

Headquartered in Englewood Cliffs, New Jersey, Benserco, Inc. has been providing third- party administration services since 1966. The company specializes in administering Taft-Hartley benefit plans, including pension, health, dental, vision, legal services, training and apprentice and vacation plans. Benserco also houses Benefit Services of PA, Inc., which specializes in third-party claims administration, and Dentsco, Inc., which designs and administers dental programs. For more information, visit

About Zenith American Solutions, Inc.

Zenith American Solutions, Inc. (Zenith) has been providing high-quality administrative services since 1944. With 33 offices across the country, Zenith manages benefit plans as a third-party benefits administrator (TPA) serving over 700,000 health plan members and dependents, and over 800,000 retirement plan participants for Taft-Hartley trust funds, trade associations, government entities and corporate employers. Zenith American Solutions is a company of Water Street Healthcare Partners, a strategic investor focused exclusively on the healthcare industry. For more information, visit


MarketLab Expands Product Portfolio

MarketLab, a leading national provider of unique and hard-to-find healthcare products, announced today that it has acquired Hopkins Medical Products to expand into home healthcare.

Founded in 1945, Hopkins specializes in catalog and web-based sales of products and supplies to home healthcare practitioners.

MarketLab currently offers a comprehensive portfolio of healthcare products to the anesthesia, clinical laboratory, hospital nursing and imaging markets. With the addition of Hopkins, MarketLab expands its product offering into medical supplies for nurses and clinicians in home health, hospice and assisted living settings. Hopkins is the fifth brand MarketLab has acquired since it began collaborating with Water Street Healthcare Partners, a strategic investor focused exclusively on healthcare.

“Hopkins is a highly complementary acquisition that enables us to enter a new, growing market and broaden our product offering. It is a well-established 50-year brand known for providing outstanding products, including its market-leading line of Hopkins-branded nurse bags and totes,” said Gene Babcock, chief executive officer, MarketLab. “We look forward to continuing to work with Water Street to expand our unique portfolio of products into new markets.”

Since partnering with Water Street, MarketLab has grown to become a leading specialty distributor of products to niche medical markets through six well-established brands. Together with Water Street, the company is actively seeking additional acquisition opportunities to expand its products and services into adjacent healthcare markets.

About MarketLab

MarketLab is a leading distributor of unique and hard-to-find products to the anesthesia, clinical laboratory, home healthcare, hospital nursing, and magnetic resonance imaging (MRI) markets under the MarketLab, Sharn Anesthesia, Cone Instruments, MNC, Newmatic Medical and Ceil Blue brand names. It is committed to providing customers with customized solutions that contribute to a better healthcare experience for their patients. The company is headquartered in Caledonia, Michigan. MarketLab is a company of Water Street Healthcare Partners, a strategic investor focused exclusively on healthcare. For more information, visit


BioClinica Acquires Synowledge

BioClinica®, Inc., a specialty clinical trials services and technology provider, today announced that it has acquired Synowledge to expand its offering into the growing drug safety and regulatory business process outsourcing market.

Headquartered in Miami, Synowledge specializes in pharmacovigilance, regulatory affairs and information technology services to support biopharmaceutical companies with recording, analyzing and reporting adverse drug events.

“This acquisition extends BioClinica’s solutions into an important new area for our customers,” said BioClinica President and Chief Executive Officer John Hubbard.  “Synowledge is a highly regarded provider that biopharmaceutical corporations trust to manage the critical process of monitoring and reporting adverse drug events.  Its capabilities complement our deep scientific expertise and technology-enabled services that support our customers in developing and bringing new drugs to market as safely and efficiently as possible.”

Since its founding in 2006, Synowledge has grown rapidly to serve many of the world’s leading pharmaceutical and biotechnology organizations.  The company offers pharmacovigilance services across all therapeutic areas and stages of drug development, including case processing, aggregate reporting, medical literature review, call center support and signal detection.  Synowledge employs a highly skilled global workforce of more than 500 people who provide customers with around-the-clock expertise and support remotely or onsite.  The company also offers information technology services for drug safety applications.

Sankesh Abbhi, who founded Synowledge, said, “We are very pleased to become part of BioClinica.  Our companies share a deep commitment to serving our customers and supporting their goals through highly specialized expertise and tailored solutions. Together, we offer customers a broader set of services and increased access to resources that support their overall drug development process.”

Effective immediately, Mr. Abbhi will serve as senior vice president and head of global safety and regulatory solutions.  He will report to Mukhtar Ahmed, president of BioClinica’s eClinical Solutions Division.

“Synowledge is a proven industry leader in the adoption of pharmacovigilance and regulatory technologies,” said Mr. Ahmed. “With its depth of expertise in business process execution, data analysis and application-managed services, we will further extend our eClinical product and services portfolio so that we can provide our customers with a comprehensive offering that spans across the life sciences landscape.”

About BioClinica, Inc.

BioClinica is a specialty clinical trials services provider that improves the development of new medical therapies by delivering expertise and technologies that enhance clinical research data and analytics, worldwide. The company offers industry-leading medical imaging services, enterprise eClinical technologies, clinical research centers and cardiovascular safety solutions that bring quality and efficiency to every phase of clinical development. BioClinica’s experience spans three decades and includes thousands of studies in all therapeutic areas.  The company serves more than 400 pharmaceutical, biotechnology, and device organizations – including all of the top 20 – through a network of offices in the U.S., Europe and Asia.

About Synowledge

Synowledge is a specialized Pharmacovigilance, Regulatory Affairs and IT services provider that assists and enables small, medium and large life sciences organizations to satisfy their global regulatory requirements. The Synowledge team consists of highly qualified and skilled experts who are committed to helping companies meet and exceed the challenging demands of the R&D lifecycle. Our comprehensive outsourcing solutions cover all therapeutic areas and combine the unique strengths and knowledge of industry leading experts. Our commitment to quality allows us to deliver accurate, consistent, and robust solutions to the life sciences industry. Synowledge was founded in 2006 and is headquartered in Miami, Florida.  Synowledge has global offices in North America, Europe, India, and Japan.


Baxter and Water Street Announce FDA Approval

Baxter International Inc. (NYSE: BAX) and Water Street Healthcare Partners announced the United States Food and Drug Administration (FDA) has approved CEFAZOLIN Injection in GALAXY Container (2 g/100 mL), which is Baxter’s flexible container that uses the company’s proprietary aseptic filling manufacturing processes.

CEFAZOLIN injection is a cephalosporin antibacterial indicated for preoperative prophylaxis treatment. When used for preoperative prevention, it may reduce the incidence of certain postoperative infections for high-risk patients undergoing surgical procedures. See below for full Indication and Important Risk Information.

“The availability of CEFAZOLIN 2 gram in an efficient, ready-to-use, flexible premix container that can improve pharmacy efficiency will provide additional supply options of an important antibiotic,” said Brik Eyre, president of Baxter’s Hospital Products business.

CEFAZOLIN injection has been on the FDA’s drug shortage list for more than one year due to high demand. Baxter anticipates launching CEFAZOLIN injection 2 gram frozen premix in its GALAXY container in the United States in the fourth quarter of 2015.

CEFAZOLIN injection 2 gram represents the first of nine molecules actively under development to provide healthcare providers needed injectable formulations of essential drugs frequently used in critical care settings through Baxter’s development partnership with Celerity Pharmaceuticals, LLC, a company of Water Street, a strategic investor focused exclusively on the healthcare industry.

“Baxter’s innovative development partnership with Water Street allows us to accelerate product development and offers healthcare providers additional options for critical care medications produced with our proprietary manufacturing capabilities and in our container technology,” Eyre said.

Indication Cefazolin injection is a cephalosporin antibacterial indicated for preoperative prophylaxis.

Use an alternative cefazolin product when lengthy surgical procedures require supplemental doses and when postoperative dosing is required.

To reduce the development of drug-resistant bacteria and maintain the effectiveness of Cefazolin injection and other antibacterial drugs, Cefazolin injection should be used only to prevent infections that are proven or strongly suspected to be caused by bacteria.

Important Risk Information • Cefazolin injection is contraindicated in patients who have a history of immediate hypersensitivity reactions to cefazolin or the cephalosporin antibacterial drugs, penicillins, or other beta-lactams. • Serious and occasionally fatal hypersensitivity reactions have been reported in patients receiving beta-lactam antibacterial drugs. Before therapy with Cefazolin injection is instituted, careful inquiry should be made to determine whether the patient has had previous immediate hypersensitivity reactions to cefazolin, cephalosporins, penicillins, or carbapenems. Maintain clinical supervision if this product is to be given to penicillin-sensitive patients. If an allergic reaction to Cefazolin injection occurs, discontinue the drug. • Clostridium difficile associated diarrhea (CDAD) has been reported with Cefazolin Injection and may range in severity from mild diarrhea to fatal colitis. If CDAD is suspected or confirmed, appropriate management should be instituted as clinically indicated. • Hypersensitivity reactions have been reported with administration of dextrose-containing products and corn-derived dextrose solutions. • Altered Laboratory Tests: Positive direct Coombs’ test and false-positive test for urinary glucose. • As with other dextrose-containing solutions, maintain clinical supervision when prescribing Cefazolin injection to patients with overt or known subclinical diabetes mellitus or carbohydrate intolerance for any reason. • The most commonly reported adverse reactions were nausea, vomiting, diarrhea, and allergic reactions (anaphylaxis, urticaria, skin rash). Please click accompanying full Prescribing Information.

About Baxter Baxter provides a broad portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile IV solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics; and pharmacy automation, software and services. The company’s global footprint and the critical nature of its products and services play a key role in expanding access to healthcare in emerging and developed countries. Baxter’s employees worldwide are building upon the company’s rich heritage of medical breakthroughs to advance the next generation of healthcare innovations that enable patient care.

This release includes forward-looking statements concerning CEFAZOLIN, including expectations with regard to its availability in the U.S. and risks associated with its use. The statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those in the forward-looking statements: satisfaction of regulatory and other requirements; actions of regulatory bodies and other governmental authorities; product quality, manufacturing or supply, or patient safety issues; changes in law and regulations; and other risks identified in Baxter's most recent filing on Form 10-K and other SEC filings, all of which are available on Baxter's website. Baxter does not undertake to update its forward-looking statements.

BAXTER and GALAXY are trademarks of Baxter International Inc.


Water Street Expands Team to Support Companies

Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry, announced today that it has appointed Paul T. Cottey as chief information officer.

A former executive partner with Accenture, Mr. Cottey brings nearly 30 years of information technology experience to Water Street.  He will collaborate with the firm’s group of health care companies to engage and align their IT strategy and infrastructure to support their growth objectives.

During a nearly 20-year career with Accenture, Mr. Cottey consulted with numerous corporations on their IT strategy.  He also oversaw IT initiatives for a variety of companies as vice president of IT and Systems at The Gores Group.  Mr. Cottey has significant health care experience, having served as CIO of Accretive Health, Inc.  During his tenure with the company, he was recognized as one of ComputerWorld’s Premier 100 IT Leaders.  Prior to Water Street, Mr. Cottey was CIO and a member of the executive leadership team of Patient Matters, LLC.

“We are excited to expand our team of health care executives and investment professionals with another leader of Paul’s caliber,” said Kevin Swan, partner, Water Street.  “His expertise in information technology strategy and operations brings another important component of support to growing and creating long-term value in our family of health care companies.”

Mr. Cottey augments Water Street’s Corporate Resources Group, which is comprised of specialists who work with the firm’s companies to execute strategies that support their growth objectives.  The group offers expertise in corporate communications, corporate development, information technology and talent management.

Water Street has completed more than 50 strategic acquisitions and mergers to build 22 market-leading companies in key segments of health care since its founding in 2005. The firm is pursuing proprietary investment opportunities in four segments of health care:  medical and diagnostic products and devices, specialty distribution, outsourced health care services, and specialty pharmaceutical products and services.  Target investments range in size from $50 million to $500 million in value.


BioClinica Acquires MediciGroup to Expand Services

BioClinica®, Inc., a specialty clinical trials services and technology provider, today announced that it has acquired a leading global patient recruitment and retention firm, MediciGroup®, Inc. (Medici).

The acquisition includes affiliates MediciGlobal, Ltd. and Access to Patients, LLC.  Medici also provides a lost-to-follow-up patient locate service (L2FU®) that finds missing patients globally.  Together with Medici, BioClinica will offer pharmaceutical companies comprehensive patient recruitment and retention services that improve the speed and efficiency of global clinical trials.

“This exciting acquisition adds a powerful patient recruitment, retention and lost-to-follow-up engine to BioClinica,” said BioClinica CEO John Hubbard, Ph.D. “Medici’s proprietary technologies and processes ensure eligible patients are enrolled and retained in clinical trials, further accelerating clinical development timelines.  As one company, we will bring a new clinical services model to our customers that is thoughtfully designed to achieve high-performance efficiencies in global trials.”

Medici leads the industry in its ability to recruit patients from all over the world for clinical trials across numerous therapeutic areas, specializing in orphan disease and unique patient populations for hard-to-recruit clinical trials.  Medici manages over 30 global patient communities online which, along with their patented tools and cutting-edge digital methodologies, help clients meet or exceed their recruitment goals.  The company has implemented more than 200 programs for some of the world’s largest pharmaceutical companies since its founding in 1992.  Medici is distinguished by the quality of patients sent to sites based on a multi-step screening process using patented tools and digital methods. Its proprietary L2FU technology maintains clinical trial integrity and minimizes missing patient data by significantly reducing the number of patients lost to follow-up.

“We not only find your patients – we help keep them,” said Liz Moench, founder and CEO, Medici.  “Together with BioClinica, our services will deliver an important model focused on speed, quality and cost efficiency for clinical trials implementation.  I find the openness of BioClinica’s leadership to pursue new technologies and approaches especially exciting for our customers as we move toward the future.”

BioClinica and Medici have already worked together on studies where the Medici Global team has leveraged data from BioClinica’s technology.  The two companies recently collaborated to complete enrollment for a global study ahead of schedule.

“When we integrate our recruitment metrics with BioClinica’s system, we can manage clinical trials in real time. This enables us to monitor enrollment rates by sites and drive performance at all levels – recruitment marketing and site performance from start to end,” said Moench.

Moench will lead the company’s global patient recruitment and retention services, headquartered at BioClinica’s Philadelphia-area office.

About MediciGroup Inc.

MediciGlobal is in the business of making a meaningful difference to patient health—by identifying and engaging patients for clinical trials, and by building deep and lasting connections with its many stakeholders: patients, researchers and pharmaceutical sponsors. MediciGlobal’s clinical trial recruitment practices are guided by global standards and by a concern for the lives of the patients who put their trust in the Medici team. MediciGlobal makes certain that those who participate in clinical trials fully understand what clinical trial participation means, and that their participation is guarded by strict privacy policies. MediciGlobal is an industry leader in the use of social media and internet-based technologies to connect patients with physicians to clinical trials and advance new medicines; its more than 30 Facebook communities exceed 1 million fans and more than 12 million visitors weekly. MediciGlobal meets BBB OnLine® and WBENC accreditation standards and is certified as a Safe Harbor company. Visit to learn more.

About BioClinica, Inc.

BioClinica is a specialty clinical trials services provider that improves the development of new medical therapies by delivering expertise and technologies that enhance clinical research data and analytics, worldwide. The company offers industry-leading medical imaging services, enterprise eClinical technologies, clinical research centers and cardiovascular safety solutions that bring quality and efficiency to every phase of clinical development. BioClinica’s experience spans three decades and includes thousands of studies in all therapeutic areas.  The company serves more than 400 pharmaceutical, biotechnology, and device organizations – including all of the top 20 – through a network of offices in the U.S., Europe and Asia. For more information, please visit


Water Street Announces Pharmaceutical Partnership

Water Street Healthcare Partners announced today that it has formed a pharmaceutical development partnership with one of the world’s leading global health care companies.

The partnership expands Water Street’s pharmaceutical partnership program, which the firm established in 2013 as a new way to support corporations with leveraging their investment in developing pharmaceutical products and medical devices.

Water Street’s company Capstone Development Solutions (“Capstone”) will develop designated generic products on behalf of its newest corporate partner. Al Heller, former CEO of American Pharmaceutical Partners Inc. (APPI) and an operating partner with Water Street, will serve as chairman. Dan Robins, Ph.D., who has more than 20 years of experience in pharmaceutical research and development, will oversee Capstone’s team of scientists and regulatory experts. Once the designated products receive regulatory approval, Capstone will be compensated at a previously agreed-upon price.

“We are honored that another health care leader has entrusted us with developing its pharmaceutical products and supporting its commitment to launch new, affordable drugs,” said Mr. Heller. “We created this program as a new model to enable companies to bring more products to market, more quickly and efficiently. We look forward to working with more corporations to customize solutions through Capstone that advance their long-term goals.”

The partnership marks Water Street’s seventh investment in the pharmaceutical sector in the past six years and second investment in 2015. The health care firm acquired generic injectable drug services company Custopharm, Inc. earlier this year.


Temptime President Promoted to CEO

Temptime Corporation, the world’s leading provider of time-temperature indicators to the health care industry, announced today that its board of directors has promoted President Renaat Van den Hooff to chief executive officer. Mr. Van den Hooff, 56, has served as president of Temptime since 2011.

“Renaat deeply values Temptime’s mission of improving global health and has done an outstanding job of expanding Temptime’s products and services to organizations that are saving lives around the world,” said Curt Selquist, chairman, Temptime Corporation. “Renaat leads by example and has cultivated a highly talented team of employees who are focused on delivering results and developing the next generation of technology to meaningfully improve health care.”

Under Mr. Van den Hooff’s leadership, Temptime has expanded its capabilities to the world’s largest health organizations and pharmaceutical corporations. The company has broadened its portfolio of devices that monitor the temperature of vaccines and prescription drugs to blood and other biological products. Mr. Van den Hooff also spearheaded an expansion of Temptime’s operations that has doubled the company’s production capacity. He is currently leading initiatives to develop new technologies and extend Temptime’s presence into China and other markets.

“I am proud of Temptime’s recent accomplishments and performance, and want to thank the executive team and our employees for their continued passion and commitment to our mission,” said Mr. Van den Hooff. “It is exciting to lead Temptime in expanding its services and developing new technologies that will support the safe storage and distribution of a wide range of medical products across the globe.”

Mr. Van den Hooff has more than 30 years of global health care leadership experience. Prior to joining Temptime, he was worldwide president of Johnson & Johnson’s joint venture with Merck. He also held management positions with Johnson & Johnson in Belgium, the United Kingdom and the United States. Mr. Van den Hooff received a degree in economics from VEH – Brussels, Belgium and a master’s degree in marketing from the Vlerick Business School at the University of Ghent, Belgium. He serves as vice chairman of the board of a leading chapter of the National Multiple Sclerosis Foundation.

About Temptime

Temptime is the world leader in time-temperature indicators to the health care industry. The company plays a vital role in improving global health by providing solutions that monitor temperature-sensitive medical and biological products and devices. The world’s largest health organizations and manufacturers use Temptime’s indicators to support them with safely distributing medical products and supplies around the world. Temptime is a company of Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry. To learn more about Temptime, please visit


Orgentec Acquires Corgenix

Orgentec Diagnostika, a leading specialty diagnostics company in Europe, announced today that it has acquired Corgenix Medical Corporation (OTC QB: CONX.OB).

Headquartered in Broomfield, Colo., Corgenix develops and markets specialty diagnostic test kits in the United States and worldwide. The acquisition extends Orgentec’s global presence in the specialty diagnostics market following its partnership with Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry.

Corgenix broadens Orgentec’s portfolio of specialty diagnostic assays and expands its global footprint into the United States.   Together, Orgentec and Corgenix offer more than 350 tests, primarily enzyme-linked immunosorbent assays (ELISA) that diagnose a range of conditions, including autoimmune, vascular, infectious disease and organ function.   As one company, Orgentec and Corgenix serve thousands of hospitals and reference laboratories throughout Europe and the U.S., as well as the emerging markets of Asia, Latin America and the Middle East.

“We are pleased to expand our unique menu of diagnostic tests with Corgenix. The company gives us an immediate and important presence in the United States,” said Werner Hofacher, CEO, Orgentec.   “This acquisition is one of many initiatives that we have underway to build Orgentec into a global leader focused on helping health care providers diagnose rare conditions and diseases.”

Founded in 1988, Orgentec is an established leader in the European specialty diagnostics market. In the past three years, the company has launched more than 30 new assays. It partnered with Water Street in 2014 and several months later, reached an agreement to acquire Corgenix. A leading U.S. developer and manufacturer of diagnostic tests, Corgenix is the only company to have created a non-blood-based test that measures urinary thromboxane metabolites to determine aspirin effect.

“This acquisition brings together two highly regarded innovators in the specialty diagnostics market,” said Scott Garrett, chairman of Orgentec and senior operating partner, Water Street. “Water Street will continue to invest in Orgentec’s research and development initiatives and pursue targeted acquisitions that will further expand the company’s global platform of highly specialized diagnostic solutions.”

About Orgentec

Orgentec offers a portfolio of more than 350 tests, primarily enzyme-linked immunosorbent assays (ELISA), that help diagnose rheumatology, thrombosis and gastroenterology disorders, as well as infectious diseases. It also offers a fully automated instrument and associated test kits that enable laboratories to complete multiple assays and deliver faster results than traditional ELISA tests. Orgentec has a well-established position in Europe and a growing presence in Asia, Latin America and the Middle East. Orgentec is a company of Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry. For more information, visit