Water Street Healthcare Partners reported that it has carried out an investment in RTI Biologics Inc. Water Street Healthcare Partners is a private equity company specialising exclusively on the health care sector. Located in Alachua County, Florida, RTI Biologics is known for their orthopedic and other biologic implants.
Water Street Healthcare Partners devoted up to US$50 million in a convertible preferred equity that will help RTI Biologics in acquiring Pioneer Surgical Technology, another medical technology firm. The acquisition should transform RTI Biologics into one of the world's biggest manufacturer of surgical implants.
"We are excited to partner with Water Street to complete this acquisition, and to add Curt and Ned's expertise to our board. The Pioneer acquisition puts RTI in a much stronger position to capitalize on future opportunities in orthopedics and biologics. Water Street's extensive knowledge and network of relationships in the medical products sector will benefit our organization as we further advance our long-term strategic plan," said RTI Biologics CEO, Brian K. Hutchison.
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