Water Street Health Care Partners Completes Agreement With Gentiva Health Services to Acquire Majority Ownership of C...( Private Equity Firm Recruits Industr...)

Private Equity Firm Recruits Industry Leaders to Spearhead and Expand Home

Health Care Services Business

CHICAGO, Sept. 25 /PRNewswire/ -- Water Street Healthcare Partners, a leading private equity firm focused exclusively on the health care industry, announced today that it has completed its agreement with Gentiva Health Services, Inc. (Nasdaq: GTIV) to acquire a controlling interest in CareCentrix. The firm also announced that it has recruited Eric Reimer to serve as chief executive officer of CareCentrix, and Steve Shulman and Steve Cosler to join the board of directors. Together, they will focus on repositioning and expanding CareCentrix, the nation's largest coordinator of home health care services for managed care organizations.

Eric Reimer, 39, most recently led strategic development for Magellan Health Services, Inc. (Nasdaq: MGLN). He spearheaded the company's acquisition of National Imaging Associates, where he assumed the CEO position and transformed the $50 million business into a full-service radiology benefits management firm, generating $300 million in annualized revenue. Mr. Reimer also was instrumental in Magellan's acquisition of ICORE Healthcare, a specialty pharmaceutical business. During his five years with Magellan, Mr. Reimer managed and collaborated with the nation's largest health care plans. Prior to Magellan, Mr. Reimer held executive positions with CIGNA Health Services and Prudential Healthcare. He also worked with Boston Consulting Group, after receivin
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