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Citi Private Equity Executive Joins Water Street Healthcare Partners

Posted on: Friday, 29 May 2009, 08:02 CDT

Private Equity Firm Adds Partner to Advance Health Care Investment Opportunities

CHICAGO, May 29 /PRNewswire/ -- Water Street Healthcare Partners, a leading private equity firm focused exclusively on the health care industry, announced today that Robert B. Womsley has agreed to join the firm as a partner, effective July 1. A senior partner with Citi Private Equity, Mr. Womsley, 45, will work with Water Street's team of senior investment professionals and health care executives to identify new investment opportunities and support its growing group of health care companies.

"We are excited to have a leader of Rob's investment acumen and experience join our team," said Tim Dugan, managing partner, Water Street Healthcare Partners. "We have continued to identify and complete a number of new investments over the past year, and have been selectively looking for another partner to help advance our active pipeline. We've known Rob for many years, and we believe his global experience, solid judgment and strong track record of achieving results make him an ideal fit with our senior leadership team. Additionally, his worldwide contacts will be valuable for enhancing our extensive network of industry relationships."

Mr. Womsley brings more than 20 years of global investment experience to Water Street. In his recent position as European head of Citi Private Equity, he led more than $1 billion of transactions. Previously, Mr. Womsley was managing director and global head of Citi's private equity placement group. Mr. Womsley received his bachelor's degree in history from Vanderbilt University and master's in business administration from the University of Chicago Graduate School of Business.

"I'm looking forward to returning to Chicago to join Water Street and its dynamic team of leaders," said Mr. Womsley. "As I've interacted with Water Street's team over the years, I've appreciated their deep expertise and unique investment approach. The results that Water Street has achieved in three years since raising its first fund speak volumes to the effectiveness of the strategy. I am thrilled to become a member of the team, and play an active role in future investments and growth."

Since raising its first fund in 2006, Water Street has completed 16 investments and built 10 leading health care companies. During the same time period, it has more than doubled the size of its team. The firm recently announced that it closed its eighth acquisition in the past 10 months.

"A number of trends including aging demographics, technology advancements and a shift toward consumerism continue to drive growth in health care," said Dugan. "In today's challenging economic environment, we continue to uncover unique opportunities for investments. With the addition of Rob and other senior hires this year, we are very well-positioned to capitalize on our strong and active pipeline. Our focus will be investing in those companies that offer the strongest foundations for expansion in attractive segments of health care."

Water Street is currently pursuing investments in six segments of health care: diagnostic devices, medical products, pharmaceutical services, specialty distribution, specialty pharmaceuticals and specialty services. Its transactions typically range from $50 million to $500 million in value.

About Water Street Healthcare Partners

Water Street Healthcare Partners is a leading private equity firm focused exclusively on health care. With more than $1 billion of capital under management, Water Street is one of the most active investors in the health care industry. The firm has a strong record of building market-leadership companies across key growth sectors in health care. It has partnered with some of the world's leading health care companies on its investments including: Johnson & Johnson, Medtronic and Smith & Nephew. Water Street's team is comprised of industry executives and private equity professionals with decades of experience investing in and operating global health care businesses. The firm is headquartered in Chicago. For more information about Water Street, visit www.wshp.com.

SOURCE Water Street Healthcare Partners

Source: PR Newswire

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