Navigation Links
Water Street Healthcare Partners Completes Sale and Recapitalization of CareCentrix
Date:9/20/2011

CHICAGO, Sept. 20, 2011 /PRNewswire/ -- Water Street Healthcare Partners, a strategic private equity firm focused exclusively on the health care industry, announced today that it has completed a sale and recapitalization of CareCentrix, Inc.  Headquartered in East Hartford, Connecticut, CareCentrix is the nation's leading provider of home health benefits management services to the managed care industry.  Water Street sold its majority interest in CareCentrix to Summit Partners.  The firm will maintain an ownership position in CareCentrix and continue to participate in its rapid growth.  

Water Street acquired CareCentrix from Gentiva Health Services in 2008.  In less than three years, the firm transformed CareCentrix into the nation's leading home health benefits management company.  Water Street established CareCentrix as an independent company, recruited the senior management team, and expanded CareCentrix's core services through organic initiatives and acquisitions.  Together with the management team, Water Street more than doubled CareCentrix's contracted revenues from 2008 to 2011.

"Water Street has been instrumental in helping us to establish CareCentrix as one of the fastest growing companies in health care.  Its team's extensive expertise in payer services and network of industry relationships enabled us to expand at an accelerated pace to provide significantly greater value to our customers.  I am excited that the material growth we achieved together has attracted Summit Partners to invest in CareCentrix's future.  We are excited to continue our partnership with Water Street to build value that will benefit our customers and employees," said Eric Reimer, chief executive officer, CareCentrix.

Since partnering with Water Street, CareCentrix has grown to manage home nursing, infusion and medical equipment services for more than 30 million people across the country through a network of 7,000 credentialed home care providers. In 2010, the company introduced a new program, HomeSTAR, which has proven to reduce the number of people being readmitted to the hospital.  Earlier this year, CareCentrix acquired Sleep Management Solutions LLC (SMS) to expand its services into the fast-growing area of sleep benefits management.

"CareCentrix is an excellent example of the value Water Street creates through our corporate partnership strategy.  Working closely with a strong management team, we transformed CareCentrix from a lower-priority division of a public company into one of the fastest growing companies in healthcare," said Ned Villers, partner, Water Street.  "We are pleased that our efforts resulted in a transaction that delivered an outstanding return to our investors, and look forward to continuing to build and grow CareCentrix."

Water Street currently owns 13 companies in the following health care sectors: medical and diagnostic products, specialty distribution, life sciences and specialty health care services. CareCentrix is one of the firm's four companies that specialize in payer services.  Other companies include Access MediQuip, HealthPlan Holdings, and New Century Health.

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 www.wshp.com.


'/>"/>
SOURCE Water Street Healthcare Partners
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. NTMir Announces Research Grants for Epidemiology and Household Water as Source of Infection
2. Increasing Dairy Milk Production with Electrolyzed Drinking Water
3. Battelle Scientists Named on Patent for Making Oxygen From Light and Water
4. New Jersey American Water Lifts Precautionary Boil Water Advisory For Middlesex, Somerset and Union Counties
5. $232 Billion Personalized Medicine Market to Grow 11 Percent Annually, says PricewaterhouseCoopers
6. California American Water Celebrates No Drugs Down the Drain Week in San Diego
7. Waters SDMS Vision Publisher Now Certified Compliant with SAFE-BioPharma Digital Standard
8. Pharmaceutical and Life Sciences Companies Face Rising Tax Rates, Says PricewaterhouseCoopers
9. New Analytical Training Lab Standardizes on Waters Innovative Technologies to Achieve Educational Goals
10. Groundbreaking Ceremony in Port-au-Prince, Haiti for FilterPure Water Filtration Factory
11. Waterproof Keyboard Now Has Brighter, More Efficient Backlighting
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/24/2017)... , March 24, 2017 ... the industry including definitions, classifications, applications and industry chain ... international market including development history, competitive landscape analysis, and ... ... industry spread across 105 pages providing 10 company profiles ...
(Date:3/24/2017)... Research and Markets has announced the addition of the ... to their offering. ... report provides separate comprehensive analytics for the US, Canada ... Asia-Pacific , Latin America , and Rest ... through 2022. Also, a six-year historic analysis is provided for these markets. ...
(Date:3/24/2017)... -- Eli Lilly and Company (NYSE: LLY ... in its U.S. operations in 2017. The company,s ... research laboratories, manufacturing sites, and general and administrative ... for Lilly products, as well as its robust ... pain, diabetes and other unmet medical needs.  ...
Breaking Medicine Technology:
(Date:3/24/2017)... ... ... The Radiology Business Management Association (RBMA) has named the nine winners ... year, are among the most prestigious in radiology marketing because a panel of radiology ... recognize achievements in both large budget (over $5,000) and small budget (under $5,000) campaigns. ...
(Date:3/24/2017)... ... March 24, 2017 , ... Texas Physical Therapy Specialists (TexPTS) is pleased ... Huebner Road. The clinic is the group’s 7th location in San Antonio and 23rd ... PT, will provide care from the clinic, which opened March 22, 2017. ...
(Date:3/24/2017)... ... March 24, 2017 , ... Mlynarek ... services to families and business owners across eastern Michigan, is connecting with the ... struggling with financial difficulties. , The Oxford/Orion FISH Food Pantry works to ensure ...
(Date:3/24/2017)... ... March 24, 2017 , ... In just two days, Aqua ... micro-veggies garden on Kickstarter . Surpassing the $100,000 milestone so quickly,10-times the ... consumers (and counting) already backing the campaign. , “We are very grateful ...
(Date:3/24/2017)... (PRWEB) , ... March 24, 2017 , ... ... Assili, announce that they are now offering treatments for sleep apnea and TMJ ... dental offices. Sleep apnea , specifically the obstructive type, is increasingly being ...
Breaking Medicine News(10 mins):