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kelly.zitlow@waterstreet.com

Water Street Announces Investment in MedPlast

Water Street Healthcare Partners and JLL Partners announced today that they have acquired MedPlast, Inc. Headquartered in Tempe, Arizona, MedPlast is a leading global services provider to the medical device industry.

MedPlast offers a range of engineering and manufacturing capabilities that support the world’s leading original equipment manufacturers (OEMs) with producing diagnostic, orthopedic, surgical and other medical products. The company employs more than 1,800 engineers, technicians and assembly workers who specialize in technical molding, advanced processing, device assembly and implantables with expertise in plastics. Over the past five years, MedPlast has expanded its operations to encompass 11 ISO-certified facilities across the United States, China, Mexico and the United Kingdom.

“MedPlast has well-established and trusted relationships with the world’s leading medical manufacturers who value the company’s high-quality standards that meet their demanding industry regulations. We will work with MedPlast’s team to expand its suite of capabilities into new areas to form a comprehensive, integrated portfolio of end-to-end product solutions,” said Peter Strothman, partner, Water Street.

A $40 billion-dollar market, medical device services continues to grow as increasing numbers of original equipment manufacturers turn to outsourcing providers to generate cost and time efficiencies. It is a highly fragmented sector with hundreds of providers offering design, engineering, manufacturing supply chain and logistical services.

“MedPlast stands out for its health care expertise, extensive global footprint and breadth of high- quality capabilities,” said Daniel Agroskin, partner, JLL Partners. “Together with Water Street, we will invest our expertise and resources to expand MedPlast’s services into high-value areas and build on its strong base of long-term customer relationships.”

MedPlast is the second collaboration between JLL Partners and Water Street. The firms recently worked together to build Bioclinica, Inc. into one of the world’s leading providers of specialty outsourced clinical trial solutions.

“Our partnership with JLL and Water Street is an important step toward achieving our goal of building MedPlast into an end-to-end services provider focused on the health care industry,” said MedPlast Chief Executive Officer Harold Faig. “For the past eight years, we have optimized our capabilities toward health care. This acquisition will give us access to expertise and resources to grow our core competencies into areas that will bring considerable value to our customers.”

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Water Street Announces New Investment

Water Street Healthcare Partners announced today that it has invested in The Access Group.

Headquartered in Berkeley Heights, New Jersey, The Access Group creates and executes strategies that support the world’s leading biopharmaceutical companies with maximizing their products’ access to managed markets and patients. Water Street is committing equity to expand the company’s services into a broader commercialization offering.

“Our partnership with Water Street is an important first step toward bolstering Access Group’s portfolio of strategic services,” said Eric Bishea, chief executive officer, The Access Group. “Water Street has an outstanding track record of leveraging its team’s industry expertise and network of resources to create multifaceted, differentiated pharmaceutical services companies. Its experience will be invaluable as we work to invest in Access Group’s future and extend our offering into areas that will achieve optimal outcomes on behalf of our clients.”

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.

“The Access Group offers a core suite of services that the biopharmaceutical market is looking for and needs to be successful in today’s rapidly changing climate,” said Peter Strothman, partner, Water Street. “Stricter regulations, different health care models, and increasingly complex reimbursement policies are making it more challenging than ever for pharma companies. They value The Access Group’s clinical expertise and collaboration in getting their products admitted to managed markets and in the hands of the patients who need them.”

“Our goal is to build on Access Group’s strong market presence and long-standing client relationships to create a comprehensive commercialization services offering,” said Steve Cosler, operating partner, Water Street. “We will do this through a combination of organic investments and strategic acquisitions that will extend Access Group’s services into areas that address critical industry challenges and drive greater value for clients in the future.”

The Access Group is the latest business to join Water Street’s family of companies specializing in pharmaceutical products and services businesses. The firm currently owns 14 companies across four health care sectors: medical and diagnostic products, outsourced health care services, specialty distribution, and pharmaceutical products and services.

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Water Street Completes Sale of Bioclinica

Water Street Healthcare Partners announced today that it has completed the sale of Bioclinica, Inc., one of the world’s leading providers of specialty outsourced clinical trial solutions.

Water Street’s partnership with Bioclinica began in 2013 when the health care firm completed a proprietary investment in CCBR-SYNARC.  One year later, Water Street facilitated a market-leading merger between CCBR-SYNARC and Bioclinica that elevated the company to a market leader.  Bioclinica completed six more strategic acquisitions that broadened and strengthened its capabilities across every major phase of clinical development.

Working with Water Street, Bioclinica expanded its customer base to encompass more than 400 of the world’s premier pharmaceutical, contract research organizations and medical device companies, including all of the top 100 pharmaceutical companies and top 10 CROs.  In the past two years, Bioclinica’s revenues increased more than 60 percent and its employee population doubled to more than 2,600 people.

Peter Strothman, partner, Water Street said, “We are very pleased that our collaboration with Bioclinica achieved our goal of building its capabilities into a highly valuable business.  It is gratifying to see our combined work culminate in a sale that will bring new opportunities to the company and deliver an outstanding return to our investors.”

About Bioclinica

Bioclinica is a specialty services provider that utilizes expertise and technology to create clarity in the clinical trial process. Bioclinica is organized by three business segments to deliver focused service supporting 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 the eClinical Solutions platform; Clinverse Financial Lifecycle Solutions; Safety and Regulatory Solutions; Strategic Consulting Services; App xChange Alliances; and eHealth Cloud Services. 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. Learn more at www.bioclinica.com.

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Water Street Appoints Vice President

Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry, announced today that it has appointed Nicklaus Daley to vice president.

Mr. Daley augments Water Street’s team of senior investment professionals and former executives of health care corporations including Baxter International Inc., CVS Caremark Corporation, Johnson & Johnson and McKesson Corporation.

Mr. Daley will support Water Street with identifying and executing new investment opportunities in the firm’s targeted health care sectors. He also will assist with the strategic management of Water Street’s group of health care companies. Prior to Water Street, Mr. Daley worked as an associate with CIVC Partners. He also worked at Houlihan Lokey and the consulting practice of Bain & Company. Mr. Daley received his bachelor’s degree in economics from the Wharton School at the University of Pennsylvania. He earned his master’s degree in business administration from Northwestern University’s Kellogg School of Management.

“We are pleased to grow Water Street as we continue to expand our family of health care companies. It has been a busy year with our team investing in a services company and facilitating four strategic acquisitions to strengthen and extend our companies’ capabilities,” said Tim Dugan, managing partner, Water Street. “We continue to be focused on proactively engaging with health care leaders to discuss new ways that we can align our team’s health care expertise and resources to support them in achieving their objectives for value creation.”

Water Street has completed more than 70 strategic acquisitions and mergers to build 25 market-leading health care companies since raising its first fund 10 years ago. The firm recently announced that it signed an agreement to sell its specialty clinical trial solutions business, Bioclinica, Inc. Water Street is continuing to pursue proprietary investment opportunities in four segments of health care: medical and diagnostic products and devices, specialty distribution, health care services, and specialty pharmaceutical products and services. Target investments range in size from $50 million to $500 million in value.

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Water Street Announces Agreement to Sell Bioclinica

Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry, and JLL Partners announced today that they have signed a definitive agreement to sell Bioclinica, Inc. to international private equity firm, Cinven.

Headquartered in Doylestown, Pa., Bioclinica is one of the world’s leading providers of specialty outsourced clinical trial solutions.

“It has been rewarding to work with Water Street and JLL Partners to build Bioclinica into an industry leader that offers exceptional scientific expertise and technology across a global service platform. They have been excellent partners in supporting our team to build a differentiated business that creates clarity and efficiency in the complex clinical trial process. We look forward to continuing to broaden our services and deepen our client relationships in partnership with Cinven,” said Dr. John Hubbard, chief executive officer, Bioclinica.

Water Street and JLL Partners merged Bioclinica and CCBR-SYNARC to create a market leader in 2014. Under their stewardship, Bioclinica completed eight strategic acquisitions that strengthened and broadened its capabilities across every major phase of clinical development. Bioclinica expanded its customer base to encompass more than 400 of the world’s premier pharmaceutical, contract research organizations and medical device companies, including all of the top 50 pharmaceutical companies and top 10 CROs. In the past two years, Bioclinica’s revenues have increased more than 60 percent and its employee population has more than doubled.

“We are extremely pleased that our partnership with John and JLL achieved our goal of transforming Bioclinica into a high-growth global leader,” said Peter Strothman, partner, Water Street. “It is gratifying to see our combined work culminate in a sale that will deliver an outstanding return to our investors. We believe that Cinven will be an excellent partner with management as they continue to execute Bioclinica’s strategic plan.”

Dan Agroskin, managing director, JLL Partners, added, “We are delighted that the strategic plan we have implemented led to outstanding growth at Bioclinica. John and the management team have done an excellent job of building Bioclinica into a global leader.”

The transaction is expected to close in the fourth quarter of 2016. Financial terms are not being disclosed.

About Bioclinica

Bioclinica is a specialty services provider that utilizes expertise and technology to create clarity in the clinical trial process. Bioclinica is organized by three business segments to deliver focused service supporting 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 the eClinical Solutions platform; Clinverse Financial Lifecycle Solutions; Safety and Regulatory Solutions; Strategic Consulting Services; App xChange Alliances; and eHealth Cloud Services. 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. Learn more at www.bioclinica.com.

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Bioclinica Acquires Compass Research

Bioclinica®, a provider of specialized technology-enabled services supporting clinical trials, today announced it has acquired Compass Research, a leading U.S. clinical research site network with direct access to a number of specialized populations with neurodegenerative disorders and other diseases found in aging demographics.

The acquisition solidifies Bioclinica’s position as a premier global research network—and the only one with investigator sites in the U.S., Europe, Latin America, and Asia.

Bioclinica President and CEO John Hubbard, Ph.D. said, “This exciting acquisition brings established, highly successful U.S. investigational sites into our global research network. The Compass Research team has built a strong operation that will set the model for our clinical research expansion in the United States.” He added, “With its industry reputation for being both patient-focused and the ‘go-to site’ for Alzheimer’s research, Compass will be a key part of our global research network.”

Headquartered in Orlando, Florida, Compass Research brings to Bioclinica state-of-the-art facilities and experienced clinicians focused on patient care. As a group, Compass researchers have supported more than 1,300 trials and contributed to the FDA approval of more than 80 biopharmaceutical products.

Compass Chief Medical Officer and co-founder Craig Curtis, MD, CPI said, “Compass Research has one of the most experienced Phase 1-4 site teams in the U.S and is a preferred provider for many of the largest biopharmaceutical companies globally.”

Most notably, Compass has an established presence in The Villages, the largest retirement community in the U.S. and home to 179,000 elderly residents who may contribute to research such as Arthritis, back, knee and hip pain, Women’s Health, Alzheimer’s Disease, dementia, as well as Type II Diabetes and cardiovascular diseases. The company also has a database of nearly 80,000 potential subjects amassed through a network of physicians and affiliate practices with in-clinic recruiters, as well as an in-house marketing and call center.

Compass Research CEO and co-founder Sean Stanton said, “Undoubtedly, access to patients combined with exceptional patient care have contributed to our industry-leading reputation. Our highly successful model is complementary to Bioclinica’s global network, and we feel confident in our ability to replicate it in other geographies as we add more sites across the country.”

The Compass leadership team will play a strategic role in the Bioclinica Research Network expansion. In addition to Mr. Stanton and Dr. Curtis, Chief Operating Officer Jeff Pohlig, and Compass Primary Investigators will assume key roles in the ongoing development of Bioclinica’s U.S. site network.

Bioclinica Global Clinical Research President Elizabeth Thiele said, “We are pleased to welcome this high-caliber management team and Compass colleagues to Bioclinica. These talented individuals will help steer our Research Network toward accelerated clinical development in Alzheimer’, Neurosciences, Cardiovascular, Osteoarthritis, Osteoporosis, Rheumatoid Arthritis, Pain, Vaccine, Migraine and other indications in which we are already working.”

Dr. Hubbard added, “This exciting acquisition adds considerable expertise for a full complement of therapeutic specialization across our expanding global network. In addition to the Research Network, we see unique synergies with our Medical Imaging, Biomarkers, eHealth Solutions, and Patient Recruitment-Retention teams to give our clients added insights to further their clinical development in a more efficient and cost-effective way.”

To introduce the latest addition to the expanding Bioclinica network, Bioclinica will exhibit with members of the Compass Research team at the Alzheimer’s Association International Conference (AAIC), a global forum to advance dementia science, in Toronto, Canada on July 24-28.

About Compass Research

Compass Research is a clinical research company dedicated to testing investigational medications that cover a broad range of diseases and disorders. By participating in a clinical research study with Compass Research, participants are given the opportunity to provide valuable information for the future of medicine. Our core value is to exceed the expectations of both our patients and sponsors. We do this through comprehensive quality control and attention to detail. Our staff has over 400 years of combined clinical research experience in all fields of medicine. This gives us extensive knowledge of the clinical research study process from beginning to end and the ability to provide quality data to our sponsors.

About Bioclinica

Bioclinica is a specialty services provider that utilizes expertise and technology to create clarity in the clinical trial process. Bioclinica is organized by three business segments to deliver focused service supporting 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 the eClinical Solutions platform; Clinverse Financial Lifecycle Solutions; Safety and Regulatory Solutions; Strategic Consulting Services; App xChange Alliances; and eHealth Cloud Services. 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. Learn more at www.bioclinica.com.

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Premise Health Announces Acquisition

Premise Health, a leading worksite health and patient engagement company, announced today that it has acquired TransformHealthRx, Inc., which specializes in onsite and multi-employer health and wellness centers.

The acquisition enhances Premise Health’s growing presence in the mid-size company and municipality markets, building upon its acquisition of IMWell Health, LLC earlier this year.

Premise Health has invested significantly in developing new employee health solutions since it was formed through the merger of CHS Health Services and Take Care Employer Solutions in 2014. The company provides personalized care to more than 200 of the nation’s leading employers, including many of the Fortune 1000, through onsite health centers. The addition of TransformHealthRx, which currently operates 17 sites in five states, further extends Premise’s expertise and services to centers that serve multiple employers, including mid-size companies, school districts and municipalities.

“This partnership with TransformHealthRx further solidifies our strategic focus on mid-size employer and municipality markets and expands our ability to improve the cost and quality of employer health care to a broader market,” said Stu Clark, chief executive officer, Premise Health. “Premise Health and TransformHealthRx were built on similar values, and we look forward to working together to provide our clients with unparalleled care and an exceptional patient experience while driving down the cost of care.”

In the past 10 years, TransformHealthRx has expanded its capabilities to provide a variety of health and wellness options including care management, primary care services and personalized wellness programs.

“We believe this is a natural next step in improving health outcomes for populations and increasing patient engagement, which is a goal that both our companies share,” said Allison Judge, TransformHealthRx founder and CEO. “This partnership will provide TransformHealthRx with access to clinical, operations and technology resources, as well as the expertise and capital to further the company’s vision.”

The leadership team at TransformHealthRx will remain in place, with increased support and resources from Premise Health, and continue to provide clients with the quality of services they have come to expect. Mr. Clark added that Premise Health will continue to pursue strategic initiatives and acquisitions that expand the company’s capabilities and services.

ABOUT PREMISE HEALTH

Premise Health is a leading worksite health and patient engagement company dedicated to improving the cost and quality of employee health care. With more than 40 years of experience, Premise Health manages more than 500 worksite-based health and wellness centers across the country. The company serves more than 200 of the nation’s leading employers, including a significant number of the Fortune 1000. Premise Health is a company of Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry. For more information on Premise Health, visit www.premisehealth.com.

 ABOUT TRANSFORMHEALTHRX

TransformHealthRx specializes in onsite or near-site health and wellness centers for employers with between 200 and 5000 employees. TransformHealthRx matches proven best practices in health care delivery with the needs and budget of its clients. The company currently supports centers in Georgia, North Carolina, Tennessee, Idaho and Indiana. TransformHealthRx has the finest transparent cost model in the industry along with some of the best healthcare management outcomes. For more information on TransformHealthRx, visit www.transformhealthrx.com.

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Water Street Invests in ELAP Services

Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry, announced today that it has completed a growth investment in ELAP Services LLC.

Headquartered in Wayne, Pa., ELAP specializes in reducing health insurance costs for mid-size companies across the United States.

Steve Kelly, co-founder and chief executive officer of ELAP, said, “When we founded ELAP, it was with the belief that we could make a difference in helping companies offer their employees high-quality, affordable health care by bringing transparency to health care expenses – one of the top cost drivers for any organization. Today, we are saving companies and their employees millions of dollars in health insurance costs. With Water Street, we gain a partner with the industry expertise and resources to expand our services and make an even greater impact on behalf of our clients.”

ELAP works with companies to design self-insured health plans and manage their medical claims. It conducts detailed audits on their medical bills and reprices them based on an analysis of the medical providers’ actual costs and Medicare rates. On average, each case managed by ELAP reduces employers’ long-term health care expenses by as much as 25 percent. Over the past ten years, ELAP has grown to serve more than 400 companies.

“ELAP provides a unique and valuable solution that addresses an important need in the market,” said Steve Cosler, operating partner, Water Street. “We are honored that Steve and his team have selected Water Street as their partner. We look forward to contributing our expertise to extend ELAP’s services into new areas and build greater long-term value in the business.”

Mr. Kelly, along with co-founder C. Woody Waters, and Chief Operating Officer Enelia Gonzalez will continue to lead the company. Mr. Cosler, who has more than 30 years of leadership experience in outsourced health care services, and Ned Villers and Max Mishkin with Water Street, will join Messrs. Kelly and Waters as members of the board of directors.

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Baxter Announces New Product Developed in Partnership with Water Street

Advancing Baxter’s longstanding commitment to provide hospitals with convenient presentations of medications that drive efficiency during drug preparation and enhance patient safety in administration, Baxter International Inc. (NYSE: BAX) today announced the launch of a ready-to-use VANCOMYCIN injection in 0.9% Sodium Chloride (Normal Saline) in 500 mg, 750 mg and 1 gram presentations.

VANCOMYCIN injection is an antibiotic used to treat serious or severe infections caused by susceptible strains of methicillin-resistant (beta-lactam-resistant) staphylococci bacteria.

Baxter is the only manufacturer to offer VANCOMYCIN in a premixed presentation, which uses the company’s proprietary frozen GALAXY container technology. Baxter’s innovative frozen premix technology is specifically designed for unstable molecules that are often administered using standardized doses. Premixed molecules offered in the GALAXY container are illustrative of the leading innovation in medical manufacturing that Baxter has been bringing to the healthcare industry for more than 80 years.

VANCOMYCIN saline injection augments Baxter’s expanding portfolio of generic injectable drugs in the United States available in easy-to-use presentations that hospitals, physicians and patients can rely on because they are manufactured to the Current Good Manufacturing Practice (cGMP) regulations established by the U.S. Food and Drug Administration (FDA). Premixed medications in standardized drug concentrations can help support hospitals’ goals for safe and efficient medication preparation because compounding is not necessary.

“As a company whose mission is focused on saving and sustaining lives, Baxter’s launch of VANCOMYCIN injection in an innovative premixed saline presentation provides new options of an important antibiotic to address patient needs and demonstrates our commitment to making premixed preparations of medications more efficient for healthcare practitioners,” said Brik Eyre, president of Baxter’s Hospital Products business.

The launch is an extension of Baxter’s existing VANCOMYCIN injection in 5% dextrose in 500 mg, 750 mg and 1 gram presentations and provides an alternative to certain patients who may need to avoid receiving additional dextrose. By providing VANCOMYCIN in both saline and dextrose presentations, Baxter makes additional therapy options available of a critical antibiotic that has appeared on and off of the FDA Drug Shortage list.

VANCOMYCIN saline injection is the second of nine clinically important molecules coming out of a collaborative partnership with Celerity Pharmaceuticals, LLC, a company of Water Street Healthcare Partners, to develop new products that use Baxter’s proprietary container technology, enhanced packaging platform, and aseptic filling manufacturing process.

Baxter’s VANCOMYCIN saline injection in 500 mg, 750 mg and 1 gram presentations are available in the United States.

INDICATIONS for Vancomycin Injection, USP:

• For the treatment of serious or severe infections caused by susceptible strains of methicillin-resistant (beta-lactam-resistant) staphylococci. It is indicated for penicillin-allergic patients, for patients who cannot receive or who have failed to respond to other drugs, including the penicillins or cephalosporins, and for infections caused by vancomycin-susceptible organisms that are resistant to other antimicrobial drugs. Vancomycin is indicated for initial therapy when methicillin-resistant staphylococci are suspected, but after susceptibility data are available, therapy should be adjusted accordingly.

• Vancomycin is effective in the treatment of staphylococcal endocarditis. Vancomycin has been reported to be effective alone or in combination with an aminoglycoside for endocarditis caused by Streptococcus viridans or S. bovis. For endocarditis caused by enterococci (e.g., E. faecalis), vancomycin has been reported to be effective only in combination with an aminoglycoside. Vancomycin has been reported to be effective for the treatment of diphtheroid endocarditis. Vancomycin has been used successfully in combination with either rifampin, an aminoglycoside, or both in early-onset prosthetic valve endocarditis caused by S. epidermidis or diphtheroids. Specimens for bacteriologic cultures should be obtained in order to isolate and identify causative organisms and to determine their susceptibilities to vancomycin. Its effectiveness has been documented in other infections due to staphylococci, including septicemia, bone infections, lower respiratory tract infections, skin and skin structure infections. When staphylococcal infections are localized and purulent, antibiotics are used as adjuncts to appropriate surgical measures.

• To reduce the development of drug-resistant bacteria and maintain the effectiveness of vancomycin and other antibacterial drugs, vancomycin should be used only to treat or prevent infections that are proven or strongly suspected to be caused by susceptible bacteria. When culture and susceptibility information are available, they should be considered in selecting or modifying antibacterial therapy. In the absence of such data, local epidemiology and susceptibility patterns may contribute to the empiric selection of therapy.

IMPORTANT RISK INFORMATION for Vancomycin Injection, USP:

• Vancomycin is contraindicated in patients with known hypersensitivity to this antibiotic and in patients with known allergy to corn or corn products.

• Vancomycin should be administered over a period of not less than 60 minutes to avoid rapid-infusion-related reactions, such as exaggerated hypotension, including shock, and, rarely, cardiac arrest. Stopping the infusion usually results in prompt cessation of these reactions.

• Ototoxicity has occurred in patients receiving vancomycin and may be transient or permanent. It has been reported mostly in patients who have been given excessive doses, who have an underlying hearing loss, or who are receiving concomitant therapy with another ototoxic agent, such as an aminoglycoside.

• Patients with renal insufficiency should undergo serial monitoring of renal function and receive appropriate dosing schedules. The risk of toxicity and nephrotoxicity is increased with high, prolonged blood concentrations and concomitant therapy with an aminoglycoside.

• Clostridium difficile associated diarrhea (CDAD) has been reported with Vancomycin Injection, USP, and may range in severity from mild diarrhea to fatal colitis. Prolonged use of vancomycin may result in the overgrowth of nonsusceptible microorganisms. Careful observation of the patient is essential. If superinfection occurs during therapy, appropriate measures should be taken.

• Risk of High Sodium Load: Avoid use of Vancomycin in patients with congestive heart failure, elderly patients and patients requiring restricted sodium intake.

• Reversible neutropenia has been reported in patients receiving vancomycin. Patients who will undergo prolonged therapy with vancomycin or who are receiving concomitant drugs that may cause neutropenia should have periodic monitoring of the leukocyte count.

• Vancomycin is irritating to tissue and must be given by a secure intravenous route of administration. Pain, tenderness, and necrosis occur with inadvertent extravasation.

• The safety and efficacy of vancomycin administered by the intrathecal (intralumbar or intraventricular) route or by the intraperitoneal route have not been established by adequate and well controlled trials.

• Reports revealed administration of sterile vancomycin by the intraperitoneal route during continuous ambulatory peritoneal dialysis (CAPD) has resulted in a syndrome of chemical peritonitis. To date, this syndrome has ranged from a cloudy dialysate alone to a cloudy dialysate accompanied by variable degrees of abdominal pain and fever. This syndrome appears to be short-lived after discontinuation of intraperitoneal vancomycin.

Please see 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.

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Water Street Completes Sale of HealthPlan Services

Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry, announced today that Tampa, Fla.-based HealthPlan Services has been sold to global information technology, consulting and business process services leader, Wipro Limited, for $460 million.

During its seven-year partnership with HealthPlan Services, Water Street helped grow the company into the nation’s leading technology and Business Process as a Services (BPaaS) solution for the individual health insurance industry.

Water Street invested in HealthPlan Services in 2008. Working together, Water Street and the management team developed and executed a strategic growth plan that expanded HealthPlan Services’ outsourcing platform and elevated the company to a leadership role in the insurance exchange market created through the Affordable Care Act (ACA). HealthPlan nearly quadrupled its revenues to $223 million and more than doubled its employees over the course of its partnership with Water Street. Today, more than a quarter of all consumers on the federal health insurance exchange benefit from HealthPlan Services’ solutions.

“HealthPlan and Water Street created a set of solutions, platform and services that previously did not exist. In doing so, we helped many of the nation’s largest health insurance payers acquire, service and retain millions of incremental members under the ACA,” said Jeff Bak, president and chief executive officer, HealthPlan Services. “Water Street enabled us to make a significantly large investment in our platform to execute our vision and strategy. Its industry experience and network of resources were invaluable to our growth and to achieving the next step in our strategic plan through the Wipro transaction.”

“It’s been our privilege to work with Jeff and the entire HealthPlan management team to make a meaningful impact in the health care industry. We are proud of the incredible growth we have experienced over the past seven years, as HealthPlan added more than 1,000 associates and became a critical part of the dynamic individual insurance marketplace. We are pleased that our success has been validated by a global leader committed to continuing the company’s strong growth trajectory,” said Ned Villers, partner, Water Street.

About HealthPlan Services

HealthPlan Services delivers a best-in-class administrative technology platform and consumer engagement services to payers and agents across the public exchange, private exchange and off-exchange individual markets. The company is the largest independent provider of sales, benefits administration, retention, and technology solutions to the health insurance and managed care industries. Headquartered in Tampa, Florida, HealthPlan Services was founded in 1970 and employs over 2,000 associates. HealthPlan Services stands at the forefront of the health insurance industry, providing exchange connectivity, administration, distribution and technology services to insurers of individual, group, voluntary and association plans, as well as valuable solutions to thousands of brokers and agents nationwide. For more information, please visit www.healthplan.com.

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