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September 202023

Water Street Announces Appointment of Avi Pelossof

Chicago — Water Street today announced the appointment of Avi Pelossof to its team of senior investment professionals and health care executives. With over two decades of industry experience, most recently as president and CEO of Immucor, Mr. Pelossof will work with Water Street’s team on opportunities to invest in and grow diagnostics and life sciences businesses. 

“Building businesses that specialize in diagnostic tools and technologies is my passion. They play a crucial role in improving patients’ lives through their continual innovation in diagnosing and monitoring complex conditions. I’m excited to advance this important work with Water Street. We are looking for opportunities to contribute our knowledge and experience to invest in health care businesses and accelerate their goals for growth,” said Mr. Pelossof.

Mr. Pelossof has built numerous businesses during his 20+ years as an executive in the global diagnostics industry. Highlights include:

  • spearheading Immucor’s turnaround to elevate its position in the transfusion and transplant in vitro diagnostics markets and facilitate its successful sale to Werfen
  • establishing and building Alere’s infectious disease business unit (now part of Abbott) from inception into a $750+ million business offering a comprehensive point-of-care diagnostics portfolio
  • leading the development and commercialization of the industry’s first CLIA-waived point-of-care molecular test while serving as a global president with Alere

Scott Garrett, operating partner, Water Street, added: “I served on the board while Avi was CEO at Immucor, and he proved to be one of the most capable operators I’ve ever worked with. He knows the diagnostics industry inside and out. I’m looking forward to working with Avi to source opportunities to invest in clinical diagnostics businesses and achieve our goal of building them into market leaders.”

Water Street is actively pursuing opportunities to invest in and grow companies in three key health care sectors: health care services, medical products and diagnostics, and pharmaceuticals and life sciences. The health care firm’s target investments range in size from $50 million to $500 million in value.

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