Alcor Scientific Partners with Health Care Investor Water Street to Accelerate Expansion
Posted on 01 Mar 2022
Alcor Scientific (Smithfield, RI, USA) has partnered with strategic health care investor Water Street Healthcare Partners (Chicago, IL, USA) which has committed significant capital to invest in Alcor's expansion.
Alcor plans to leverage Water Street's investment to achieve its goals for accelerating the development of new technologies, expanding its product portfolio and bolstering its global reach. Alcor is one of the only providers to offer a fully automated solution for Erythrocyte Sedimentation Rate (ESR) testing, which measures inflammation for a range of clinical purposes, including diagnosing and monitoring autoimmune diseases, cancer and infections. More than 1,100 hospitals and reference laboratories around the world have adopted Alcor's proprietary testing system comprised of analyzers and consumable tests. Water Street has committed significant capital to invest in Alcor's research and development initiatives, product portfolio and international expansion.
"Innovation is the cornerstone of Alcor," said Carlo Ruggeri, founder of Alcor. "Our family founded and grew this company by conceiving and developing new medical technologies that meaningfully improve patient care. I'm very pleased to have found in Water Street a strategic partner that values our legacy and will help us build on it. Water Street's diagnostics and medical products expertise combined with the experience of our new CEO, Jim Post, will help us not only build - but accelerate - Alcor's next phase of innovation and growth."
"Alcor stands out for its exceptionally high customer satisfaction and retention ratings," added Scott Garrett, operating partner at Water Street. "Health care providers greatly value Alcor's ESR testing system, saying it helps save time and labor costs to improve their overall workflow. Together with Carlo and the leadership team, we will build on this strong foundation through organic investments and acquisitions of complementary products and technologies to extend its product portfolio and global reach."
"Alcor is an outstanding company with great people who are passionate about what they do and it shows in their results," said Jim Post, Alcor’s newly-appointed CEO. "I'm excited to be joining the company at this point in its history and development and to work together to achieve our shared goal of building Alcor into a global diagnostics leader."
Related Links:
Alcor Scientific
Water Street Healthcare Partners
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