M&A Deal Summary

Water Street Healthcare Partners Acquires Discovery Life Sciences

On October 16, 2018, private equity firm Water Street Healthcare Partners acquired life science company Discovery Life Sciences

Acquisition Highlights
  • This is Water Street Healthcare Partners’ 10th transaction in the Life Science sector.
  • This is Water Street Healthcare Partners’ 35th transaction in the United States.
  • This is Water Street Healthcare Partners’ 1st transaction in Alabama.

M&A Deal Summary
Date 2018-10-16
Target Discovery Life Sciences
Sector Life Science
Buyer(s) Water Street Healthcare Partners
Deal Type Consolidation

Target

Discovery Life Sciences

Huntsville, Alabama, United States
website
Discovery Life Sciences is a provider of biospecimen analysis, procurement, distribution, and genomic, cell-based and histology-based scientific services for the pharmaceutical, biotechnology, and diagnostics industries. HudsonAlpha Discovery is Discovery’s sequencing and bioinformatics division, a globally recognized service laboratory that leverages the most current genomic research technologies to comprehensively support discovery, translational, and clinical research. Discovery Life Sciences was formed in 2018 and is based in Huntsville, Alabama.

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Buyer(S) 1

Buyer

Water Street Healthcare Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2005
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Water Street is a specialist private equity firm that targets investments in healthcare companies. Specific areas of interest within healthcare include diagnostic devices, medical products, pharmaceutical services, specialty distribution, specialty pharmaceuticals, and specialty services. Water Street targets non-core units of larger corporations and private middle-market companies. Transactions are typically valued between $50 and $500 million. Water Street does not invest in biotechnology, traditional healthcare facilities (hospitals, nursing homes) or early-stage companies without positive cash flow. Water Street was formed in 2005 and is based in Chicago, Illinois.

DEAL STATS #
Overall 36 of 44
Sector (Life Science) 10 of 11
Type (Consolidation) 3 of 4
State (Alabama) 1 of 1
Country (United States) 35 of 42
Year (2018) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-01 Triplefin

Cincinnati, Ohio, United States

Triplefin LLC is a provider of integrated business process outsourcing solutions to pharmaceutical and consumer products companies. Triplefin delivers comprehensive hub services that improve patient access and adherence, including its patent-pending Rx365® suite of digital solutions. Triplefin’s programs help thousands of patients with serious diseases, offering hope and improved well-being. Its associates are dedicated to providing an empathetic, caring experience throughout a patient’s journey. The company is headquartered in Cincinnati, Ohio.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-28 Allucent

Cary, North Carolina, United States

Allucent is a provider of solutions that support life science organizations with advancing drug development. Allucent offers a range of services including regulatory strategy and submissions, project management, medical writing, biostatistics, data management, pharmacokinetics, pharmacovigilance, quality assurance, and trial management. Allucent was founded in 1988 and is based in Cary, North Carolina.

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