Water Street Healthcare Partners acquires pharma company Solvias
Water Street Healthcare Partners and JLL Partners have agreed to acquire and grow Solvias, a contract research, development and manufacturing company based in Switzerland.
Solvias has remained fully operational during the pandemic, supporting their customers' work to develop vaccine candidates and therapeutic options for Covid-19.
As part of the deal Water Street helped Solvias recruit two pharmaceutical services executives to its board of directors. Solvias has appointed Michael Lehmann and Mario Rocci, Jr, PhD to join Karen Huebscher, PhD, chief executive officer and director of Solvias, on the company’s board.
Solvias is aiming to expand into a global leader of high-quality pharmaceutical laboratory services, according to the company. It will engage Water Street's expertise and network of resources to extend the company’s capabilities into new areas and expand its global reach.
“Since Solvias’ founding, we have continuously innovated and expanded our platform of testing, specialised pharmaceutical manufacturing products, analytical kits and services to offer our customers the highest level of scientific expertise and technical capabilities,” said Dr Huebscher.
Founded in 1999, Solvias serves more than 600 biotech, medical device, cosmetic and multinational pharmaceutical companies. In recent years, the company has extended its testing and analytical services to address biopharmaceutical products and emerging cell and gene therapies.
“[Solvias] work is critical to supporting organisations with bringing important, life-saving products to market,” said Lehmann.