Water Street Completes Sale of Orgentec Diagnostika
CHICAGO, Sept. 8, 2021 /PRNewswire/ -- Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry, announced today that it has completed the sale of specialty diagnostics company Orgentec Diagnostika to Sebia. Headquartered in Lisses, France, Sebia is a world-leading provider of technology used for in-vitro diagnostic testing.
Water Street invested in Orgentec in 2014. Over the next seven years, the health care firm leveraged its expertise and network of resources in the diagnostics sector to transform Orgentec into one of the world's leading providers of specialty diagnostic solutions for autoimmune and infectious diseases. Working with Orgentec's leadership team, spearheaded by CEO Gary Winer, Water Street:
- facilitated Orgentec's acquisition of Arotec Diagnostics to access mission-critical antigens required for autoimmune testing
- enabled the company to gain an important foothold in the United States with the acquisition of Corgenix Medical
- bolstered Orgentec's global reach to customers in more than 100 countries by expanding its distribution network and enhancing its sales and marketing functions
- invested in optimizing the company's research and development capabilities to broaden its portfolio of 300+ tests and develop its next-generation diagnostic instrument and solutions
"We're pleased that our partnership with Orgentec resulted in achieving our shared goal of building the company into one of the world's premier specialty diagnostic providers. The company is making an incredibly positive impact in helping health care providers identify and treat diseases that are some of the hardest to diagnose. We're also pleased that we have found an excellent home for Orgentec in Sebia, which shares our and Orgentec's deep commitment to advancing specialty diagnostics," said Robert Womsley, partner, Water Street.
Water Street has completed more than 100 investments and strategic acquisitions to build 30+ market-leading companies in life sciences, medical products & diagnostics, and health care services. In the diagnostics sector, Water Street has partnered with founders and owners to build premier companies specializing in anatomic pathology services, laboratory testing, and diagnostic devices and solutions for critical therapeutic areas.
About Water Street
Water Street is a strategic investor 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 companies on its investments including Humana, Johnson & Johnson, Medtronic and Walgreen Co. Water Street's team is comprised of industry executives and investment professionals with decades of experience investing in and operating global health care businesses. The firm is headquartered in Chicago.
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