Pine Brook, New Jersey-based Avantik has announced a partnership with strategic healthcare investor Water Street Healthcare Partners.
Water Street has committed significant capital in addition to its diagnostics experience and network of relationships to advance the next phase of Avantik’s expansion. Working with Water Street, Avantik plans to invest in organic initiatives and acquisitions to expand its portfolio of consumables and equipment and enhance its maintenance and repair services.
Avantik and Water Street have appointed Mark Zacur, executive advisor at Water Street, as CEO of Avantik. Terms of the deal were not disclosed.
Founded in 1971, Avantik supports anatomic pathology and histology laboratories in maintaining their critical operations. The company provides cryostats, products and services for histology, Mohs and on-site pathology labs.
Water Street Healthcare Partners is a Chicago-based private equity firm focusing on the healthcare industry.
According to data captured in the LevinPro HC database, this acquisition represents the 18th Laboratories, MRI and Dialysis transaction of 2023 and the 10th in the diagnostics subsector. There were 23 Laboratories, MRI and Dialysis deals, including 19 diagnostics acquisitions, announced between January 1, 2022, and February 16, 2022.
