Water Street Invests in The Access Group
CHICAGO, Oct. 24, 2016 /PRNewswire/ -- Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry, announced today that it has invested in The Access Group. Headquartered in Berkeley Heights, New Jersey, The Access Group creates and executes strategies that support the world's leading biopharmaceutical companies with maximizing their products' access to managed markets and patients. Water Street is committing equity to expand the company's services into a broader commercialization offering.
"Our partnership with Water Street is an important first step toward bolstering Access Group's portfolio of strategic services," said Eric Bishea, chief executive officer, The Access Group. "Water Street has an outstanding track record of leveraging its team's industry expertise and network of resources to create multifaceted, differentiated pharmaceutical services companies. Its experience will be invaluable as we work to invest in Access Group's future and extend our offering into areas that will achieve optimal outcomes on behalf of our clients."
The Access Group offers pharmaceutical companies specialized expertise and capabilities that define and communicate drug therapies' value proposition to payers; educate the medical community on new drugs; and create and execute strategies that brand and market their products. Founded in 1998, The Access Group has grown to work with more than 90 pharmaceutical companies on products spanning 75 therapeutic areas from early-stage development through patent expiration. In the past four years, the company has achieved double-digit growth as demand for its services has increased in the escalating regulatory environment.
"The Access Group offers a core suite of services that the biopharmaceutical market is looking for and needs to be successful in today's rapidly changing climate," said Peter Strothman, partner, Water Street. "Stricter regulations, different health care models, and increasingly complex reimbursement policies are making it more challenging than ever for pharma companies. They value The Access Group's clinical expertise and collaboration in getting their products admitted to managed markets and in the hands of the patients who need them."
"Our goal is to build on Access Group's strong market presence and long-standing client relationships to create a comprehensive commercialization services offering," said Steve Cosler, operating partner, Water Street. "We will do this through a combination of organic investments and strategic acquisitions that will extend Access Group's services into areas that address critical industry challenges and drive greater value for clients in the future."
The Access Group is the latest business to join Water Street's family of companies specializing in pharmaceutical products and services businesses. The firm currently owns 14 companies across four health care sectors: medical and diagnostic products, outsourced health care services, specialty distribution, and pharmaceutical products and services.
About Water Street
Water Street is a strategic investor focused exclusively on health care. The firm has a strong record of building market-leading companies across key growth sectors in health care. It has worked with some of the world's leading health care companies on its investments including Johnson & Johnson, Medtronic, Smith & Nephew and Walgreen Co. Water Street's team is comprised of industry executives and investment 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 waterstreet.com.
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SOURCE Water Street Healthcare Partners