Water Street Healthcare Partners, a strategic health care investor, has made a growth investment in Renovo Solutions, a healthcare and life sciences technology management provider.
Renovo is one of the only national providers concentrated exclusively on managing health care and life sciences equipment and technology. Following the deal, Renovo will join Water Street to expand its product and services offering.
The investment will be used to expand its offerings and enhance the firms proprietary computerized management system providing data and cost transparency. Additionally, the investment will extend the firm’s national footprint from its current operations of 37 states in the United States and will grow the firm’s customer base, currently made up of 300+ hospitals, health systems and biopharmaceuticals.
“Renovo’s people, innovative technology solutions and commitment to going above and beyond on behalf of its customers are unmatched,” added Bill Newell, Renovo CEO. “Working together, we will invest to expand and enhance Renovo’s capabilities to address the full spectrum of customers’ constantly changing needs in managing their technology assets.”