Source: Pharmaceutical Technology's In the Lab eNewsletter
Issue 3,Volume 15
Water Street Healthcare Partners, a strategic investor that is focused on the healthcare industry, has agreed to invest in Solvias, a global pharmaceutical laboratory services business.
According to a Feb. 25, 2020 press release, Water Street Healthcare Partners, a strategic investor that is focused on the healthcare industry, has agreed to invest in Solvias, a global pharmaceutical laboratory services business.
“Water Street is the right partner to help us take our strategic expansion to the next level,” said Karen Huebscher, PhD, chief executive officer, Solvias, in the press release. “Its team possesses extensive industry knowledge and a network of resources to build on our strong foundation of expertise and services to bring greater value to our customers and position Solvias as a global leader at the forefront of our industry.”
“Solvias stands out for its deep expertise, outstanding quality of work and commitment to continuous innovation to support its clients with bringing new products to market. We’re excited to collaborate with Karen Huebscher and her leadership team to continue expanding their platform,” added Peter Strothman, partner, Water Street, in the press release. “Working together, we will invest in organic initiatives and strategic acquisitions that will extend Solvias’ capabilities into new and complementary areas and expand their geographic reach on a global scale.”
Once the transaction has completed, which is expected to happen in the second quarter of 2020, Solvias’ management team will continue to lead the company. Financial terms of the agreement were not disclosed.