Water Street Healthcare Partners
Private equityChicago · Growth · 10 people tracked
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Investment thesis
Water Street is a strategic investor dedicated to building market leaders in healthcare since 2005. The firm concentrates on three critical healthcare sectors: healthcare services, helping customers navigate an increasingly complex healthcare landscape; medical products and diagnostics, advancing product innovation and value-added services to improve healthcare delivery and outcomes; and pharmaceutical and life sciences, accelerating drug and device development from discovery through commercialization. The firm supports accelerated growth and impact across these areas and has partnered with dozens of companies contributing to a stronger healthcare system.
Source: firm website, verified Sep 29, 2026.
Team · 10 people
from public directoriesFounder mafia
2 people who came through Water Street Healthcare Partners went on to found or lead other companies.
What they invest in
from 5 of 7 portfolio companiesHealthtech ×4Medical Devices ×4Biotech ×2Digital Health ×2Logistics & Supply Chain ×2SaaS ×2Enterprise Software ×1Hardware ×1
HQs:United States×3
Investments · 7 tracked
founders shown can be your intro pathAvantik provides integrated equipment, consumables, lab design services, and training for Mohs histology labs performing same-day surgical pathology.
HardwareHealthtechMedical DevicesPine Brook, US
Mark Zacurin
Co-investorsCopley Equity Partners LLC
MedSpeed provides last-mile healthcare logistics, moving physical materials such as specimens, pharmaceuticals, and supplies across health systems, laboratories, pharmacies, and home health providers in the United States.
Digital HealthHealthtechLogistics & Supply Chain
Pathnostics is a CAP-accredited and CLIA-certified diagnostics laboratory offering histopathology, cytology, and molecular tests across urology, women's health, and gastroenterology.
BiotechDigital HealthMedical Devices
David Pauluzzi(Chief Executive Officer & Co-Founder)in
Co-investorsJSD Capital, LLC
Renovo Solutions operates a Life Sciences business line providing services and solutions to pharmaceutical, biotech, medical device, and laboratory services companies.
BiotechEnterprise SoftwareHealthtechMedical DevicesSaaS
Matthew Forrest(Vice President of Business Development)
Co-investorsRidgemont Equity
Sarnova is a health and safety distributor and services company operating through multiple subsidiaries serving emergency medical services, healthcare facilities, and cardiac emergency preparedness markets.
HealthtechLogistics & Supply ChainMedical DevicesSaaS
Brian LaDuke(Chief Executive Officer)inBrian Ellis(Chief Operating Officer)inShawn Saylor(Chief Financial Officer & Treasurer)inRob Meriweather(President, Emergency Preparedness)Aric Vacchiano(President, Acute Care)inNick Adams(President, Cardiac Response)
Co-investorsInvestor
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Am-TranViant
Fund performance · per public LP disclosures · 11
as of Sep 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Water Street Healthcare Partners VLPs: Maine Public Employees Retirement System | 2022 | — | — | 0.86x | — |
| Water Street VLPs: Teachers' Retirement System of Oklahoma | 2022 | — | -8.4% | 0.86x | 0.00x |
| Water Street IVLPs: Teachers' Retirement System of Oklahoma | 2018 | — | 16.1% | 1.84x | 0.62x |
| Water Street Healthcare Partners IVLPs: Maine Public Employees Retirement System | 2017 | — | 16.1% | 1.84x | 0.62x |
| Water Street Healthcare Partners IV PELPs: Maine Public Employees Retirement System | 2017 | — | 11.6% | 1.23x | — |
| Water Street Healthcare Partners IIILPs: The Regents of the University of California, Maine Public Employees Retirement System | 2013 | — | 34.7% | 2.84x | 2.55x |
| Water Street IIILPs: Teachers' Retirement System of Oklahoma | 2013 | — | 34.7% | 2.85x | 2.56x |
| Water Street Healthcare Partners III PELPs: Maine Public Employees Retirement System | 2012 | — | 35.0% | 2.68x | 1.50x |
| Water Strc't. Healthcare Partners II, L.P.LPs: The Regents of the University of California | 2008 | — | 2.6% | — | 1.13x |
| Water Street Healthcare Partners II, L.P.LPs: The Regents of the University of California | 2008 | — | 28.3% | 2.29x | 1.88x |
| Water Street Healthcare Partners, L.P.LPs: The Regents of the University of California | 2005 | — | 9.4% | 1.44x | 1.44x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- How many investments has Water Street Healthcare Partners made?
- Water Street Healthcare Partners has 7 tracked investments.
- What stage does Water Street Healthcare Partners invest at?
- Water Street Healthcare Partners invests at the Growth stage.
- What sectors does Water Street Healthcare Partners focus on?
- Water Street Healthcare Partners focuses on Biotech, Digital Health, Healthtech, Medical Devices.
- Where is Water Street Healthcare Partners located?
- Water Street Healthcare Partners is headquartered in Chicago, US.
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