Citi Private Equity’s European head has left the firm to join Water Street Healthcare Partners, a healthcare-focused private equity group.
Robert Womsley, who led over $1 billion of transactions with Citi, will start his new position as a partner of Water Street on 1 July. He will work with the senior investment team and healthcare executives to identify new investment opportunities.
“We are excited to have a leader of Rob’s investment acumen and experience join our team,” says Tim Dugan, managing partner of Water Street Healthcare Partners. “We have continued to identify and complete a number of new investments over the past year, and have been selectively looking for another partner to help advance our active pipeline. A number of trends including ageing demographics, technology advancements and a shift toward consumerism continue to drive growth in healthcare. In today’s challenging economic environment, we continue to uncover unique opportunities for investments.”
Water Street is currently pursuing investments in six areas of the healthcare sector including diagnostic devices, medical products, pharmaceutical services and specialty pharmaceuticals, services and distribution.
The Chicago-based firm, which typically engages in transactions from $50 million to $500 million, has completed 16 investments since raising its first fund in 2006.
D.C.