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August 232023

Dr. Ari Kellen Joins Water Street; Focused on Specialty Pharma

Chicago — Water Street announced today that Dr. Ari Kellen has joined its team to help identify the health care firm’s next specialty pharmaceutical investment. 

Dr. Kellen will work with Joseph C. Papa to spearhead Water Street’s search for businesses interested in a partner to advance their goals for their medical technologies and products. Water Street has committed more than $500 million to the initiative.

Dr. Kellen has dedicated most of his career to advising leaders on growing their health care businesses. During his 20+ years with McKinsey & Company, he specialized in collaborating with pharmaceutical, medical device, and health care services companies. He also advanced numerous research and development product initiatives while leading multi-billion-dollar businesses across Bausch Health. Dr. Kellen began his career as a practicing physician. He earned his medical and business administration degrees from Witwatersrand University in South Africa.

“There is a vast spectrum of medical technologies and products currently in development that can make a meaningful difference in people’s lives. We want to find businesses that are interested in a strategic partnership, where we can contribute our industry knowledge and experience as well as our capital, to accelerate their goals for bringing their products to market and into the hands of patients who need them,” said Dr. Kellen.

Dr. Kellen will work with Mr. Papa to advance Water Street’s discussions with founders and leadership teams of specialty pharmaceutical businesses. Water Street is also pursuing new investments in companies specializing in life sciences, medical diagnostics and products, and health care services.

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