Navigation Links
Water Street Completes Investment in RTI Biologics Inc.

CHICAGO, July 16, 2013 /PRNewswire/ -- Water Street Healthcare Partners, a strategic private equity firm focused exclusively on the health care industry, announced today that it has completed an investment in RTI Biologics Inc. (RTI).  Headquartered in Alachua, Fla., RTI specializes in orthopedic and other biologic implants.  Water Street has invested a $50 million private placement of convertible preferred equity to support RTI with acquiring Pioneer Surgical Technology (Pioneer).  The acquisition transforms RTI into one of the world's leading providers of surgical implants.

As part of the transaction, RTI has appointed two representatives from Water Street to serve on its board of directors.  Curt Selquist, an operating partner with more than 35 years of health care experience, will serve as a director.  Prior to Water Street, Mr. Selquist was company group chairman of Johnson & Johnson Medical and Johnson & Johnson Healthcare Systems.  Joining Mr. Selquist on the board is Ned Villers, a partner with Water Street who has invested in companies specializing in medical products and health care services since 1999.

"We are excited to partner with Water Street to complete this acquisition, and to add Curt and Ned's expertise to our board," said Brian K. Hutchison, president and chief executive officer, RTI.  "The Pioneer acquisition puts RTI in a much stronger position to capitalize on future opportunities in orthopedics and biologics.  Water Street's extensive knowledge and network of relationships in the medical products sector will benefit our organization as we further advance our long-term strategic plan."

The Pioneer acquisition expands RTI's portfolio of natural biologic implants to metal and synthetic devices.  It also extends RTI's direct distribution network to 47 countries and enhances its international footprint.  With the addition of Pioneer's business, RTI employs approximately 1,100 people and operates facilities in Germany, The Netherlands and the United States.  Together, the companies offer a comprehensive range of surgical implants for use in orthopedic, spine, trauma and cardiothoracic procedures.   The new name of the company is RTI Surgical Inc.

"Our team is pleased to have played a role in bringing RTI and Pioneer together to create a market leader in the growing field of biosurgery," said Mr. Selquist.  "We look forward to contributing our years of experience operating and growing health care businesses to help the board evaluate and pursue strategies that will maximize RTI's newly expanded products and capabilities."

RTI is Water Street's most recent partnership with a health care company to complete a market-leading acquisition. The firm has facilitated numerous strategic combinations that have built market-leading companies in outpatient rehabilitation services, patient safety identification solutions and distribution of specialty medical products.  RTI is Water Street's first private placement in a corporation.

RTI expands Water Street's group of companies specializing in medical products, distribution, health care services, and pharmaceutical products and services to 13.  Water Street is seeking new opportunities to partner with health care corporations and middle-market businesses interested in accelerating growth.  Its investments range in size from $50 to $500 million.

About RTI Surgical Inc.

RTI Surgical is a leading global surgical implant company providing surgeons with safe biologic, metal and synthetic implants. Committed to advancing science, safety and innovation, RTI's implants are used in sports medicine, general surgery, spine, orthopedic, trauma and cardiothoracic procedures and are distributed in more than 47 countries. RTI is headquartered in Alachua, Fla., and has four manufacturing facilities throughout the U.S. and Europe.  RTI is accredited in the U.S. by the American Association of Tissue Banks and is a member of AdvaMed.

About Water Street

Water Street is a strategic private equity firm focused exclusively on health care. The firm has a strong record of building market-leading companies across key growth sectors in health care. It has worked with some of the world's leading health care companies on its investments including Gentiva, Johnson & Johnson, Medtronic and Smith & Nephew. Water Street's team is comprised of industry executives and private equity professionals with decades of experience investing in and operating global health care businesses. The firm is headquartered in Chicago. For more information about Water Street, visit


SOURCE Water Street Healthcare Partners
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Nutrilys Del Mar Joins Health Forces With LAPD Underwater Dive Unit
2. BIOCRATES Life Sciences to Launch Waters Xevo® TQ MS Editions for Two of its Well-established Research Kit Products, AbsoluteIDQ® p180 and p150
3. Waters Breaks Ground on New Mass Spectrometry HQ in Wilmslow, UK
4. Water Isotope Analyzer Accurately Measures Contaminated Samples
5. PackH2O Water Backpack to be Showcased at 2nd Annual World Business Council for Sustainable Development US Midwest Meeting
6. Fera and Waters Open International Food Safety Training Laboratory
7. US Peptides Increases Inventory on Sterile Bacteriostatic Water
8. Buoyed by Forecasts, Where 2013 Leads - Research Report on ResMed Inc., Zimmer Holdings, Inc., Waters Corporation, Covidien PLC, and Medtronic, Inc.
9. Waters and DANI Instruments Announce Integrated and Compatible Network
10. Watertree Health Rolls Out National Prescription Discount Card Program
11. Cantel Medicals Mar Cor Purification Subsidiary Acquires Hemodialysis Water Business from Siemens Water Technologies Business Unit
Post Your Comments:
(Date:11/30/2015)... 2015 iCAD, Inc. (Nasdaq: ICAD ... latest solutions for advanced image analysis and workflow ... the Radiological Society of North American (RSNA) 2015 ... from November 29 to December 4, 2015. The ... an automated breast density assessment solution, PowerLook® Advanced ...
(Date:11/30/2015)... , Nov. 30, 2015 Booth #4303 – The ... ) will exhibit a broader array of products in a ... Society of North America in ... the meeting will feature X-ray components "At the Heart of ... line of products from Varian,s Claymount brand, and computer-aided diagnostic ...
(Date:11/30/2015)... , Nov. 30, 2015  Novartis will demonstrate the ... 57 th American Society of Hematology (ASH) Annual ... myelomas as well as supportive care, including key findings ... personalized cell therapies. The ASH Annual Meeting will be ... . Novartis Oncology . "We will be ...
Breaking Medicine Technology:
(Date:11/30/2015)... ... November 30, 2015 , ... In an effort to ... to access life-saving information provided directly from top experts in mesothelioma, in 2016 ... conferences in three major cities: Houston, San Francisco, and Chicago. , “For ...
(Date:11/30/2015)... Los Angeles, CA (PRWEB) , ... November 30, 2015 , ... ... hunger cravings that drive people to overeat are not necessarily caused by real hunger, ... brain that the stomach needs food. He notes that, while many patients are aware ...
(Date:11/30/2015)... FL (PRWEB) , ... November 30, 2015 , ... ... a comparison chart and ingredient list of its hemorrhoid ointment to its website. ... effective pain relief for people suffering from hemorrhoids. Adding the comparison chart and ...
(Date:11/30/2015)... ... November 30, 2015 , ... Using a combination of two blood sugar tests ... adults, according to a new study by researchers at the School of Public Health ... Adults: Using Combinations of Blood Glucose Tests ,” published in Frontiers in Public Health, ...
(Date:11/30/2015)... ... November 30, 2015 , ... The recently published 32nd Annual ... (NPDS) reveals that in 2014, someone called a poison center about every 11 ... which were human exposure cases. , The American Association of Poison Control Centers ...
Breaking Medicine News(10 mins):