New Century Health has an established platform and reputation, and paired with the resources provided by Water Street, NCH will be able to better position itself to reach its full potential. Water Street will leverage its experience investing in healthcare companies to foster the continued growth of the Company. In addition to Water Street’s seasoned team of investment professionals, Water Street benefits from the Company’s relationship with their operating partners such as Steve Cosler, former CEO of Priority Healthcare. “The recapitalization of New Century Health with Water Street is proof of the significant interest of private equity firms in the healthcare services industry. With the Company’s superior management teams and dominant market presence, NCH fits perfectly within the investment criteria of Water Street,” said Robert Ciardi, Managing Partner of Provident Healthcare Partners.
This acquisition is Water Street’s fourth proprietary investment in outsourced payor services. Water Street’s portfolio also includes CareCentrix, Inc., Access MediQuip, LLC, and HealthPlan Holdings, Inc.
About New Century Health
New Century Health integrates and streamlines all outpatient components of care in the oncology and cardiology specialties. Through its proprietary technology platform, New Century connects health plans, physicians and patients to coordinate care and improve quality in a cost-effective fashion. In the past three years, New Century Health has grown its revenues more than 200 percent. For more information visit the New Century Health website at newcenturyhealth.com.
About Water Street Healthcare Partners, LLC
Water Street Healthcare Partners is a strategic private equity firm focused exclusively on healthcare. The firm has a strong record of building market-leading companies across key growth sectors in healthcare. It has partnered with some of world’s leading healthcare companies on its investments including 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 healthcare businesses. The firm is headquarters in Chicago. For more information visit the Water Street website wshp.com.
About Provident Healthcare Partners
Provident is a leading healthcare investment banking firm specializing in merger and acquisition advisory, strategic planning, and capital formation services for healthcare companies. The firm has a comprehensive knowledge of market sectors and specialties, including clinical research. Provident also has unsurpassed experience and insight into the M&A process, which includes working with a multitude of investors such as private equity firms and strategic consolidators. For additional information, visit providenthp.com or follow Provident on LinkedIn.
Contact:
Provident Healthcare Partners
Rebecca Leiba
617-226-4209
rleiba@providenthp.com
