Water Street Healthcare Partners, a private equity firm focused exclusively on the healthcare industry, has announced that Hank Struik, a former president with Cardinal Health, has join
Water Street Healthcare Partners, a private equity firm focused exclusively on the healthcare industry, has announced that Hank Struik, a former president with Cardinal Health, has joined the firm as a senior executive adviser.
Struik, 42, will spearhead Water Street’s search for investment opportunities in the growing medical products sector.
The firm has provided Struik with a commitment of up to USD100m of equity capital to kick off the initiative.
‘We are excited to work with Hank to build a market-leadership company of lasting value in the multi-billion dollar medical products sector,’ says Kevin Swan, a partner with Water Street Healthcare Partners. ‘Since identifying medical products as an attractive health care segment for investment, our team has transformed a number of businesses into leading companies that specialize in products focused on patient safety, rehabilitation and drug delivery. Hank’s extensive knowledge and relationships in the medical products sector, combined with our team’s deep health care and investment expertise, uniquely positions us to attract the best opportunities.’
During his 20-year career with Cardinal Health, Struik played a lead role in building many of the global healthcare company’s medical products businesses. In 2007, he spearheaded its USD1.5bn strategic acquisition of Viasys Healthcare to establish Cardinal Health as a leader in respiratory care. Struik, who most recently served as president of Cardinal Health’s USD850m dollar respiratory and neurocare division, has also held executive positions in sales, marketing, business development and operations.
‘Water Street has an exceptional team of leaders with unmatched experience in every major segment of the health care industry,’ says Struik. ‘Their unique approach to partnering with businesses to transform them into market-leadership companies has enabled their firm to achieve a strong track record of results. I am excited to join Water Street’s talented team of executives to identify and build the next leader in medical products.’
In addition to investing in medical products businesses, Water Street invests in companies that specialise in diagnostic devices, pharmaceutical services, specialty distribution, specialty pharmaceuticals and specialty services.
