Private equity firm Water Street Healthcare Partners has acquired healthcare products and services cataloger MarketLab.
Terms of the deal were not disclosed, but Water Street vice president Kelly Zitlow says her company is committing up to $70 million of equity financing to both acquire and grow MarketLab.
Zitlow says Water Street’s strategic plan for MarketLab, which has about 100 employees, focuses on growing the company in two ways: expanding its footprint in its current markets; and expanding its capabilities into adjacent healthcare markets. MarketLab’s business model won’t change, Zitlow adds.
The acquisition expands Water Street’s current group of healthcare companies specializing in distribution, life sciences, medical devices and services to 13.