Water Street Invests in Pillr Health
Chicago – Water Street Healthcare Partners announced today that it has invested in Pillr Health, a premier provider of software and tech-enabled services that optimize pharmacy operations for health care delivery organizations. Water Street will invest its team’s industry knowledge and resources, along with its capital, to broaden Pillr Health’s platform of pharmacy solutions.
“Our partnership with Water Street is the next important step toward advancing our mission of empowering health care organizations with cutting-edge solutions, and ensuring operational excellence through integrity, exceptional service, and relentless innovation,” said Skip Devanny, CEO, Pillr Health. “With Water Street’s industry expertise, network, and capital, we will focus on accelerating development of new solutions that enable our clients to optimize clinical care while capturing meaningful economic value from their pharmacy operations.”
Pillr Health helps hospitals and health systems optimize and streamline their pharmacy operations, particularly within the 340B federal outpatient drug pricing program, which provides significant cost savings to providers serving vulnerable patient populations. The company’s integrated platform of software, analytics, and advisory services streamlines workflows, improves regulatory oversight, and strengthens the performance of pharmacy programs. Serving more than 300 hospitals and health systems across the U.S., Pillr Health recently launched a new product empowering clients to start their own outpatient retail and specialty pharmacy services.
“Pillr Health has established itself as an essential partner to hospitals and health systems seeking to maximize their pharmacy performance in an increasingly complex landscape,” said Max Mishkin, partner, Water Street. “We look forward to working with leadership to broaden Pillr’s differentiated technology platform and extend its national reach through a combination of organic investments and strategic acquisitions offering complementary capabilities and market growth opportunities.”
Patrick Teyro, principal, Water Street, added: “Pillr’s pharmacy expertise and innovative solutions are vital for helping providers expand their health services under constrained budgets to deliver high-quality clinical care. We are honored to work with Skip and his team to advance their goal of becoming a leader in hospital pharmacy enablement.”
Mr. Devanny and the management team will continue to lead Pillr Health. Cantor Fitzgerald served as an advisor to Water Street in the transaction. Financial details are not disclosed.
About Pillr Health
Pillr Health is dedicated to transforming health care through cutting-edge solutions that enhance efficiency, optimize resources, and improve patient outcomes. The company specializes in 340B program administration, helping hospitals and health systems maximize performance in the federal outpatient drug pricing program, which provides discounts to organizations serving uninsured, low-income, and vulnerable patient populations. Headquartered in Boca Raton, Florida, Pillr Health serves more than 300 health care organizations nationwide through its comprehensive platform of software, analytics, and managed pharmacy offerings.