Private equity firm Renovus Capital Partners has sold its portfolio company Pillr Health, a technology-based pharmacy optimization platform, to Water Street Healthcare Partners.
Pillr Health provides software and services that help to streamline pharmacy operations, enhance compliance, and improve financial and operation outcomes at healthcare organizations, Renovus said in a press release.
Piper Sandler served as the exclusive financial advisor to Pillr on the sale, according to the release. Financial details were not disclosed.
Pillr’s Growth Run Under Renovus
Renovus partnered with Pillr in 2019 and throughout its ownership, the latter company expanded its product capabilities, invested in technology and talent, completed multiple strategic acquisitions, and rebranded to the name Pillr Health, it said in the statement.
“Renovus was an outstanding partner throughout a period of significant growth and transformation for our company,” Skip Devanny, CEO of Pillr Health said. “Their collaborative approach, deep sector knowledge, and long-term mindset helped us accelerate innovation, strengthen our platform, and better serve healthcare providers navigating an increasingly complex pharmacy environment.”
Brad Whitman, founding partner at Renovus Capital Partners added, “Pillr Health exemplifies the type of company we seek to partner with. It is mission-driven and focused on delivering meaningful value to its customers. We are incredibly proud of the progress Pillr made during our partnership and grateful to have worked alongside such a talented management team.
Renovus Capital is a lower middle-market private equity firm specialising in knowledge and talent industries. The Philadelphia-based firm manages more than $2 billon in assets across several sector-focused funds.
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