Ned Villers

With nearly $2 billion of capital under management, Water Street Healthcare Partners is a Chicago-based private equity firm focused on healthcare companies. Water Street seeks investments and relationships in targeted sectors across a wide spectrum of the healthcare industry (Diagnostic Devices, Medical Products, Pharmaceutical Services, Specialty Distribution, Specialty Pharmaceuticals, Specialty Services). The firm specializes in creating market leaders through flexible transaction structures, with particular expertise in complex corporate partnerships, carve-outs and recapitalizations in which owners retain a significant ownership stake. Transactions typically range from $50 million to $500 million. Water Street focuses primarily on two groups: large corporations that have low-priority business units or subsidiaries, and middle market healthcare companies where management wants to significantly accelerate growth and value creation. The firm does not typically invest in biotechnology, traditional healthcare facilities (hospitals, nursing homes) or early-stage companies without positive cash flow.