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Water Street exits home IV business to New Mountain after three year holding

3 Dec 2013

hospital healthcare medical IV i-v dripWater Street Healthcare Partners has sold Medical Specialties Distributors to fellow private equity firm New Mountain Capital three years after picking up the asset.

Financial details were not disclosed, and Water Street did not respond to a request for more information.

The firm led an MBO for MSD in 2010 in an attempt to build the business into the leading home infusions distributor and service provider in the US.

In June bolted-on Medical Technology Resources, bringing the number of healthcare providers it serves to more than 4,000 across North America.

The sale is Water Street’s fourth divestiture in the past two months, the sort of exit activity which normally turns up in the marketing period for a new fund.

But the firm only closed its most recent vehicle last year, hitting its $750m hard cap after just weeks in the market.

The firm took until April to tap the fund for capital as it continued to use up remaining commitments from Fund II.

That deal saw it back outsourced clinical services provider CCBR-SYNARC.

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