Media Contact
Kelly Zitlow, 847-858-5230
kelly.zitlow@waterstreet.com

Cato Research Partners with Water Street

Cato Research, LLC (CATO), a global provider of regulatory and clinical research services, announced today that it has formed a strategic partnership with Water Street and JLL Partners to continue its growth and expansion.

Water Street will invest its pharmaceutical experience and network of resources to further develop and build CATO into a leading clinical and regulatory services provider. Founded in 1988, CATO has grown to offer pharmaceutical and biotechnology companies a range of regulatory and clinical services encompassing regulatory submissions, strategy and representation, nonclinical oversight, CMC management, pharmacokinetics, project management, medical writing, biostatistics, data management, pharmacovigilance, quality assurance, and trial conduct and management.

“Water Street and JLL stood out to our leadership team as the best partners to support the continued growth of our business and expand our offering into a broader suite of regulatory and clinical services,” said Lynda Sutton, co-founder and president, CATO.  “Working together, we will invest in CATO’s technical expertise and operations, as well as complete acquisitions that will enhance our ability to support our sponsors in today’s increasingly complex and regulated environment.”

CATO will continue to operate under the Cato Research brand with Lynda Sutton and the leadership team spearheading CATO’s day-to-day operations.  Cato BioVentures will continue to operate as a separate entity offering innovative investment approaches as a privately held family office fund.

“When we founded CATO, it was with the belief that we could make a difference in helping biopharmaceutical companies design and execute successful development strategies.  I’m excited to begin this next chapter toward achieving our goal of building CATO into a premier global clinical and regulatory services provider,” added Ms. Sutton.

CATO marks the fourth collaboration in five years between Water Street and JLL Partners. The healthcare firms have achieved one of the most accomplished track records of investing in and growing companies in the pharmaceutical products and services sector.  Collectively, they have completed nearly 40 strategic acquisitions in the past decade to invest in and build 13 market-leading companies in this space.

Terms of Water Street and JLL’s strategic investment in CATO are not being disclosed.

About Cato Research

Founded in 1988 by Dr. Allen Cato and Lynda Sutton and headquartered near Research Triangle Park, North Carolina, Cato Research is a full-service contract research and development organization providing strategic and tactical support for clients in the pharmaceutical, biotechnology, and medical device industries. Services range from design and management of preclinical and clinical studies to submission of regulatory documents required for marketing approval. With a staff of approximately 300 and offices located in the United States, Europe, Canada, Israel, and South Africa, the Cato Research team consistently demonstrates an unsurpassed level of responsiveness, flexibility, attention to detail, and passion for bringing their clients’ products to market with speed and cost-effectiveness.  For more information about Cato Research, visit cato.com.

 

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Perrigo Announces New Product Developed in Partnership with Water Street Company

Perrigo Company plc (NYSE; TASE: PRGO) today announced it has launched its AB rated abbreviated new drug application referencing Solaraze® Gel, 3% (diclofenac sodium gel, 3%).

Solaraze® Gel, 3% is indicated for the topical treatment of actinic keratoses. Annual market sales for Solaraze® Gel, 3% for the 12 months ending September 2018 were approximately $31 million as measured by IQVIATM.

Perrigo Executive Vice President and President Rx Pharmaceuticals Sharon Kochan stated, “Bringing this new product to market is another illustration of the Rx team’s commitment to providing high quality, affordable, Rx products that benefit patients in this important extended topical category.”

Diclofenac sodium gel, 3% was developed through a pharmaceutical development partnership with Capstone Development Solutions, a company of Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry.  The product is manufactured by Perrigo and shipping to customers has commenced.

About Perrigo

Perrigo Company plc, a leading global healthcare company, delivers value to its customers and consumers by providing Quality Affordable Healthcare Products®. Founded in 1887 as a packager of home remedies, Perrigo has built a unique business model that is best described as the convergence of a fast-moving consumer goods company, a high-quality pharmaceutical manufacturing organization and a world-class supply chain network. Perrigo is one of the world's largest manufacturers of over-the-counter (“OTC”) healthcare products and suppliers of infant formulas for the store brand market. The Company also is a leading provider of branded OTC products throughout Europe and the U.S., as well as a leading producer of “extended topical” prescription drugs. Perrigo, headquartered in Ireland, sells its products primarily in North America and Europe, as well as in other markets, including Australia, Israel and China. Visit Perrigo online at (http://www.perrigo.com).

 

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Merger Creates Global Leader in Biospecimen Solutions

Conversant Bio, Folio Bio, Discovery Life Sciences and Phylogeny announced today that they have merged under the name Discovery Life Sciences™ (Discovery) to create a global market leader in biospecimen analysis and procurement for the pharmaceutical, biotechnology and diagnostics industries.

The new company will leverage deep scientific expertise and consultative services, combined with the largest repository of more than 10 million research-quality biospecimens—all available and processed for analysis—to accelerate the discovery, research, and development of novel biomarkers, drug candidates, and diagnostics.

Water Street Healthcare Partners, a strategic investor focused exclusively on the healthcare industry, facilitated the merger and invested in the company.

Glenn Bilawsky, a longtime executive in the pharmaceutical and contract research industries, is Discovery‘s CEO. “We’ve created an organization to provide researchers with significant added value through our consultative ‘SmartSourcing™’ model, which creates intelligent partnerships to overcome research problems and accelerate progress, saving both time and money,” he said. “We retain the world’s most diverse base of high-quality biospecimens and the global logistical systems to acquire, process, biostore, and ship them most efficiently, with adherence to all local and international laws.”

With a particular emphasis in oncology; cardiology; neurology; and infectious, inflammatory, and autoimmune diseases, the newly combined company’s catalog includes normal, suspect, and disease-state specimens comprising rare diseases and racially and ethnically diverse exemplars. Discovery obtains these biosamples through its Discovery Partners™, a global, integrated network of more than 165 clinical sources, in 25 countries on six continents. Due to these clinical partners, Discovery is unmatched in its ability to recruit the most diverse patient populations and obtain the highest quality of ethically obtained clinical research specimens.

Discovery can study specimens on all research and diagnostic platforms. It is committed to quality and integrity as an ISO 9001-certified company with CLIA-certified labs, stringent IRB and Ethics Committee compliance, and all required EU approvals and certifications. Navigating the new personal data protection regulations (both US and internationally) is a core competency.

About Discovery Life Sciences

Discovery Life Sciences is a global market leader in biospecimen analysis and procurement for the pharmaceutical, biotechnology, and diagnostics industries.  Driven by science, the Discovery team engages with customers in an innovative, consultative approach to overcoming obstacles and reaching a faster end result. We are Science at your Service™! For more information, visit dls.com.

 

 

 

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EVERSANA Announces Acquisition

EVERSANA, the leading independent provider of global services to the life science industry, today announced the addition of Seeker Health® to its platform.

Headquartered in Palo Alto, Calif., Seeker Health offers breakthrough digital patient identification technology to accelerate drug development and commercialization for biopharmaceutical companies. The company excels at identifying and engaging patients with complex diseases for clinical trials and patient databases. Now powered by EVERSANA, Seeker Health technology will be applied throughout the full product lifecycle, helping clients create stronger patient relationships through continued engagement.

“We face a pivotal shift in healthcare as medicines become increasingly more precise, serving smaller and harder-to-find patient populations.  Our technology has already helped biopharmaceutical companies accelerate clinical trial enrollment, launch therapies faster and reach the patients who need them. Now, we can have an even greater impact by engaging patients throughout the entire lifecycle of a medicine,” shared Sandra Shpilberg, founder & president, Seeker Health. “It’s been an honor to see our idea grow into technology that has such a profound impact on patients and drug development.”

Seeker Health complements EVERSANA’s suite of patient-focused capabilities, which include service and support HUB models, specialty pharmacy distribution, and The Patient Experience Project, a full-service, patient-centric communications firm serving the healthcare industry. The Seeker PortalTM, a proprietary patient-lead management system that is pending patent, and PEPTrials, a patient-centered model for clinical trial recruitment and enrollment, will immediately work together to advance recruitment for current trials and assist clients in developing more patient-focused clinical research programs.

“As people use technology in their daily lives, our industry has a tremendous opportunity to leverage technology to treat rare disease,” added Jim Lang, chief executive officer, EVERSANA. “From patient databases and research panels to ongoing therapy adherence, EVERSANA is well-positioned to help our clients create value for all stakeholders, and most importantly, for their patients.”

Seeker Health will continue to operate from Palo Alto with Shpilberg leading the team and operations. EVERSANA, which unveiled its brand earlier this week, encompasses seven premier service providers including Dohmen Life Science Services, The Access Group, Alliance Life Sciences, Health Strategies Group, Triplefin, Patient Experience Project, and Seeker Health. Together as EVERSANA, the organization delivers a fully-integrated service portfolio to help life science leaders create value for key constituents across the product lifecycle.

About EVERSANA™

EVERSANA is the leading independent provider of global services to the life science industry. The company’s integrated solutions are rooted in the patient experience and span all stages of the product lifecycle to deliver long-term, sustainable value for patients, prescribers, channel partners and payers. The company serves more than 500 organizations, including innovative start-ups and established pharmaceutical companies to advance life science services for a healthier world. To learn more about EVERSANA, visit eversana.com or connect through LinkedIn and Twitter.

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Key Surgical Announces Acquisition

Key Surgical LLC, a leading global provider of sterile processing and operating room supplies, announced today that it has acquired Sarasota, Fla.-based Encompas Unlimited to expand the company’s endoscopy product offering.

Encompas is the second acquisition that Key Surgical has completed since it merged with Interlock Medizintechnik GmbH last year to become a leading provider to hospitals and surgical centers around the world.  Founded more than 30 years ago, Encompas specializes in manufacturing, assembling, and distributing a range of endoscopy accessories and supplies.  Key Surgical will incorporate Encompas’ endoscopy supplies into its portfolio of more than 3,000 products used by hospitals and surgery centers for patient procedures, as well as to clean and sterilize their surgical instrumentation.

Brian O’Connell, president and chief operating officer, Key Surgical, said, “We are excited to broaden our offering to our customers and their patients with the addition of Encompas.  The company has an excellent reputation for offering high-quality products, and we are excited to build on Key Surgical’s existing presence in the growing endoscopy market.”

Encompas will become part of Key Surgical and its products will be available directly from Key Surgical by the end of July.

About Key Surgical

Key Surgical is a leading global provider of sterile processing and operating room supplies. The company offers a broad suite of thousands of products and supplies focused on instrument reprocessing, operating room, and patient procedures to over 10,000 facilities in 70 countries. Headquartered in Eden Prairie, Minnesota, Key Surgical is a company of Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry. For more information, visit keysurgical.com.

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Water Street Completes Premise Health Sale

Water Street announced today that it has completed the sale of Premise Health to OMERS Private Equity. Headquartered in Brentwood, Tenn., Premise Health is the nation’s leading direct health care access company.

Water Street partnered with Walgreen Co. in 2014 to invest in its onsite health care business subsidiary, Take Care Employer Solutions. The firm simultaneously merged the business with CHS Health Services and transitioned it to a standalone company, Premise Health.  Over the next four years, Water Street facilitated three more strategic acquisitions and invested in a state-of-the-art technology platform to extend Premise Health’s onsite model to near-site health centers and virtual health.

Since partnering with Water Street, Premise Health has expanded its national footprint to more than 600 health and wellness centers across 44 states, Guam and Puerto Rico.  The company has grown to serve more than 275 U.S. corporations, including many of the Fortune 1000, and employ more than 4,500 people.

“Together with Water Street, we have led an aggressive strategy to successfully position Premise Health as the leading direct health care access provider to U.S. employers,” said Stu Clark, chief executive officer, Premise Health.  “Premise Health is truly the gateway that is connecting companies, employees and their family members to phenomenal care so they can live healthier, more productive lives.”

Ned Villers, partner, Water Street, added, “Our partnership with Walgreens and the Premise management team created the opportunity to transform two competitors into an industry leader that is changing the future of employer health care.  We are pleased that our collective expertise and experience resulted in outstanding growth for the company and a sale that will deliver an exceptional return to our investors.

Financial terms of the sale are not being disclosed.

About Premise Health

Premise Health is a leading direct health care access company pioneering new models to deliver powerfully effortless health care. With more than 50 years of experience, Premise Health delivers unmatched quality, access and value through more than 600 health and wellness centers in 44 states, Guam and Puerto Rico. The company serves more than 275 of the nation’s most innovative organizations, including a significant number of Fortune 1000 companies.

Premise Health believes that the future of health care is unrivaled access to phenomenal care that costs less for clients, members and their dependents. It delivers that future today through three access points – onsite health, near-site health, and 24/7 virtual health. It also serves as the health care gateway for members and dependents, connecting them not only to its own robust and comprehensive provider network but also to the broader health care ecosystem. The result is a member experience that makes it easy to be seen anytime and anywhere.

For more information on Premise Health, visit www.premisehealth.com.

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MedPlast Completes Acquisition and Unveils New Name

MedPlast, LLC announced today that the company has completed its previously announced acquisition of Integer Holding Corporation’s Advanced Surgical and Orthopedics (“AS&O”) business.  MedPlast also announced that it will rebrand under the name, Viant, to reflect the company’s new strategic direction.

“Today marks an exciting day for our company.  The addition of Integer’s business expands our capabilities and offerings, and enables us to achieve our goal of being a full-service supplier to our customers,” said MedPlast Chief Executive Officer Brian King.  “Our new name, Viant, represents our dedication to our customers and to the patients that our customers serve; and is indicative to our commitment that ‘we’re in it for life.’ We could not be more pleased to rebrand as Viant in conjunction with the close of this newest acquisition.”

MedPlast has bolstered its portfolio of end-to-end solutions in the medical technology space with three acquisitions in the past 15 months. With the company’s most recent acquisition of Integer’s AS&O business, MedPlast doubles in size to nearly $1 billion in sales, expands its metals capabilities and extends its global footprint into Europe. The acquisition also strengthens MedPlast’s ability to vertically integrate and simplify the supply chain for its customers.

In addition to rebranding as Viant, MedPlast announced that its corporate headquarters will move to Foxborough, Massachusetts, placing it in a major medical device hub near many of its customers. Since Water Street and JLL’s investment in MedPlast in 2016, the company’s employee base has doubled to nearly 6,000 associates located across the United States, Central America, Europe, and Asia.

To learn more about MedPlast and its new name, Viant, visit, www.viantmedical.com.

About Viant (formerly MedPlast)

At Viant, we focus on providing end-to-end solutions for medical device OEMs. Our deep materials expertise, including metals—combined with our experience in engineering, manufacturing, assembly, packaging, and sterilization —allows us to bring our customers’ medical technology solutions to market. We have 25 worldwide locations and are well-positioned to serve our OEM partners.  For more information, visit www.viantmedical.com.

 

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Water Street to Divest Premise Health

Direct health care company Premise Health today announced global investment firm OMERS will become its new lead investor beginning in mid-July, following four years of partnership with Water Street Healthcare Partners.

For Premise Health, which partners with organizations to address the health needs of their employee and dependent populations, this announcement marks the next step forward as it grows to meet demand for greater health care access, according to Premise CEO Stu Clark.

“Over the last four years, we have significantly expanded and evolved our model to deliver unrivaled access to high-quality care, offering a seamless member experience and exceptional value,” Clark said. “Now, we are poised to continue that progress with support and capital from a global partner known for its long-term investment approach, which aligns perfectly with our vision and commitment to our clients, members and their families.”

Water Street and Premise worked together closely to select OMERS as the company’s new investment partner, and Premise’s executive team will continue to lead the company, Clark added.

Ned Villers, partner, Water Street, commented, “When we partnered with Walgreens and the management team to create Premise Health, our vision was to transform Premise into the national leader in employer health care. We are proud of the tremendous value that Premise Health brings to the health care system today and believe that the company is ideally positioned to continue its strong growth in the future.”

OMERS is one of Canada’s largest defined benefit pension plans, with more than $95 billion in net assets, as of December 31, 2017. Other examples of OMERS Private Equity’s healthcare investments include dermatology provider Forefront Dermatology, dental services provider Great Expressions, outpatient physical therapy and home health provider CBI Health Group, and outpatient rehabilitation services provider Accelerated Rehabilitation Centers.

“Our approach to investment is a patient one, with a focus on growing businesses by providing long-term capital and supporting management,” said Tim Patterson, OMERS managing director. “We’re pleased to partner with Premise Health to pioneer new solutions to enhance health care experiences, while lowering the overall cost.”

Rising health care costs remain a challenge for many organizations. Average annual employer contributions to premiums for family coverage increased 48 percent between 2007 and 2017, from $8,824 to $13,049 per family, according to the Kaiser Family Foundation 2017 Employer Health Benefits Report.

Patterson added that together, Premise and OMERS have “a tremendous opportunity to offer organizations a different approach to health care and make a difference for millions of people.”

Harris Williams & Co. acted as the merger and acquisition advisor to Premise Health for this transaction.

ABOUT PREMISE HEALTH

Premise Health is the leading direct healthcare company pioneering new models to deliver powerfully effortless healthcare. With more than 50 years of experience, Premise Health delivers unmatched quality, access and value through more than 600 health and wellness centers in 44 states, Guam and Puerto Rico. The company serves more than 275 of the nation’s most innovative organizations, including a significant number of Fortune 1000 companies.

Premise Health believes that the future of healthcare is unrivaled access to phenomenal care that costs less for clients, members and their dependents. It delivers that future today through three access points – onsite health, nearsite health, and 24/7 virtual health. It also serves as the healthcare gateway for members and dependents, connecting them not only to its own robust and comprehensive provider network but also to the broader healthcare ecosystem. The result is a member experience that makes it easy to be seen anytime and anywhere.

For more information on Premise Health, visit www.premisehealth.com.

 

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Mark Thierer Appointed to Chairman of Life Sciences Platform

Water Street and JLL Partners announced today that they have recruited Mark Thierer to chairman and Jim Lang to CEO of their rapidly growing life sciences services platform. The longtime health care leaders will spearhead the platform’s ongoing expansion of solutions that improve the speed and success of bringing complex therapies to market.

Mr. Thierer brings more than 30 years of health care leadership experience to the organization, which is comprised of the industry’s premier service providers including Dohmen Life Science Services, The Access Group, Alliance Life Sciences, Health Strategies Group, Triplefin and Patient Experience Project. Mr. Lang, who previously served as executive chairman of the growing company, has been instrumental in bringing together these businesses over the past six months to build a platform of end-to-end services for life sciences companies.

“I am honored that the board has entrusted me with continuing to build this innovative organization,” said Mr. Lang. “We are integrating science and commercialization in an entirely new way to position therapies for success across all major stakeholders – regulators, payers, providers and patients. The addition of Mark to our board will be hugely beneficial to advancing our goal of becoming the partner of choice for biopharmaceutical and medical device companies.”

Mr. Thierer added, “I’m excited to join this fast-growing organization that is reshaping the life sciences services landscape.  It is a unique opportunity to be part of building a new solution that is addressing a fundamental shift in our industry toward patient-centric, value-based health care.”

About Mark Thierer

Mark Thierer most recently served as CEO of OptumRx , where he oversaw all Optum pharmacy care services, including the management of pharmacy benefits, the pharmacy network, and home delivery pharmacy and specialty pharmacy programs. Prior to this role, Mr. Thierer served as chairman and CEO of Catamaran, which was one of America's largest pharmacy benefit management companies and merged with OptumRx in 2015. Earlier in his career, Mr. Thierer served as president, CEO and chairman of SXC Health Solutions, which merged with Catalyst Health Solutions to create Catamaran. During his time as CEO of SXC Health Solutions, the company recorded a compound annual growth rate of 50 percent and a 50-fold increase in shareholder value.  He received a bachelor’s degree in finance at the University of Minnesota and a master’s in business administration from Nova Southeastern University.

About Jim Lang

Jim Lang has more than 25 years of experience leading, advising and funding mission-driven health care companies.  Prior to his current role, he served as CEO of Decision Resources Group, which he built into a leading health care data and analytics company via 17 acquisitions. Previously, Mr. Lang was CEO of IHS CERA, now IHS Markit, a recognized leader in energy insight products and services.  Before that, Mr. Lang spent 17 years building and leading Strategic Decisions Group (SDG), a premier strategy consultancy, where he advised boards and c-suites of the Global 2000.  Mr. Lang’s advisory and transformation work has created multiples of billions of dollars in share value across those companies.  He also spearheaded SDG’s successful sale, including its large life sciences practice to IMS Health (now IQVIA).  Mr. Lang is an active private investor in health care and has served on more than a dozen private and public company boards.   He holds a bachelor’s degree in electrical and computer engineering from the University of New Hampshire and a master’s in business administration from the Dartmouth Tuck School of Business.

About the Company

Water Street Healthcare Partners and JLL Partners, two strategic investment firms specializing in health care, have built the life sciences industry’s leading independent provider of services through a series of strategic acquisitions.  The firms recently completed the acquisition of Triplefin, which joins Dohmen Life Science Services, The Access Group, Health Strategies Group, Alliance Life Sciences and the Patient Experience Project.  As one entity, the businesses offer customers a portfolio of comprehensive solutions, including channel, market access, patient support and compliance to improve the speed and success of bringing complex therapies to market. Together, they employ nearly 1,500 global professionals who serve more than 300 of the industry’s top biopharmaceutical and medical device companies.

 

 

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MedPlast Appoints John Greisch to Chairman

MedPlast, LLC, a leading global services provider to the medical device industry, announced today that its board of directors has appointed John J. Greisch as chairman, effective immediately.  The longtime health care executive, who recently served as president and chief executive officer of Hill-Rom Holdings, Inc., joins MedPlast’s board as the company continues to expand its suite of manufacturing solutions.

During his eight years of leadership at Hill-Rom, Mr. Greisch, 62, was instrumental in transforming the company’s business portfolio, expanding its global footprint and advancing its position as a global medical device leader while delivering an increase in enterprise value of over $6 billion.  Prior to Hill-Rom, Mr. Greisch served in senior leadership positions with Baxter International Inc., including president of the company’s International Operations, chief financial officer and president of its BioScience division. He currently serves on the board of directors of Catalent, Inc., Idorsia Pharmaceuticals Ltd. and The Ann & Robert H. Lurie Children’s Hospital of Chicago.

“I could not be more pleased to have someone with John’s background and experience become chairman of our board,” stated Brian King, CEO, MedPlast.  “Since my first meeting with John, I have been energized by his thoughtful and dedicated manner.  I am confident that John is going to bring a positive and enthusiastic approach to the MedPlast team, and I am very happy to have him join our board.”

Mr. Greisch’s appointment follows MedPlast’s agreement to acquire the Advanced Surgical and Orthopedics business of Integer Holdings Corporation. The acquisition, which is expected to close in the third quarter of 2018, will bolster MedPlast’s suite of manufacturing services and transform the company into one of the world’s leading outsourced contract manufacturers of medical devices. It is the third acquisition that MedPlast has facilitated since partnering in 2016 with Water Street Healthcare Partners and JLL Partners, two strategic investment firms specializing in the health care industry.  Water Street and JLL were instrumental in recruiting Mr. Greisch to the chairman position.

“I am honored to join the board at this exciting point in MedPlast’s evolution,” said Mr. Greisch. “Through my years of leading and growing one of the world’s premier medical technology companies, I have seen the need for a comprehensive services provider like MedPlast. I look forward to working with Brian and the board to build on MedPlast’s strong foundation and to position the company as the leading solutions partner to medical device companies.”

About MedPlast

At MedPlast, we focus on providing end-to-end solutions for medical device OEMs. Our deep materials expertise – combined with our experience in engineering, manufacturing, assembly, packaging, and sterilization – allows us to bring our customers’ medical technology solutions to market.  We have 15 locations including low-cost facilities in Costa Rica, China, Mexico, and Puerto Rico.  For more information on MedPlast, visit www.medplastgroup.com.

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