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:5/25/2016)... NORTH CHESTERFIELD, Va. , May 25, 2016 ... commercially-available next-generation sequencing test for wounds and infections. ... fungi, ALL parasites, and select viruses. The test ... infected area. David G. ... advanced molecular testing to facilitate wound healing: "We ...
(Date:5/25/2016)... PUNE, India , May 25, 2016 /PRNewswire/ ... Pipeline Review, H1 2016"market research report that provides ... complete with comparative analysis at various stages, therapeutics ... route of administration (RoA) and molecule type, along ... releases. It also reviews key players involved in ...
(Date:5/24/2016)...   , Study met ... bowel cleansing and superiority in , ... of the ascending colon   ... Norgine B.V. today announced new positive data from the phase ... preparation) versus standard 2 litre PEG with ascorbate. The study met ...
Breaking Medicine Technology:
(Date:5/28/2016)... ... May 28, 2016 , ... May 26, 2016- In search of the K. ... theme event of “K Warriors” on June 4, 2016 at Ashbury Hotel and Suites ... is sponsored and hosted by Shaolin Institute and sanctioned by KSF (Kungfu Sanda Federation), ...
(Date:5/27/2016)... Columbia, SC (PRWEB) , ... May 27, 2016 , ... ... launched a line of classic American timber frame barn kits, which can be found ... are inspired by historic American barn plans, and they highlight the craftsmanship of ...
(Date:5/27/2016)... ... 2016 , ... With over 60 percent of acute stroke survivors being left ... to aid in the rehabilitation process has steadily increased. Ekso Bionics had been working ... due to stroke. , Ekso Bionics has now received clearance from the U.S. Food ...
(Date:5/27/2016)... Texas (PRWEB) , ... May 27, 2016 , ... ... satisfying Army body fat composition regulations. This is the first time that Coolsculpting ... normally screened at least every six months to ensure they meet the prescribed body-fat ...
(Date:5/27/2016)... ... May 27, 2016 , ... With a team ... and food industries. Aside from its GMP accreditation, Validation Center is also a ... certified products, services and staff. , Validation Center is ISO17025 accredited and only ...
Breaking Medicine News(10 mins):