Water Street both acquired a majority position in Orgentec and will invest in future acquisitions that will build the company into a global leader in its field. The amount of the transaction was not disclosed. Scott Garrett, former chairman and CEO of Beckman Coulter, Inc. and senior operating partner with Water Street, will serve as chairman of Orgentec.
Led by Werner Hofacher, CEO, Orgentec currently specializes in diagnostic assays for autoimmune and infectious diseases. It offers a portfolio of more than 300 tests, primarily enzyme-linked immunosorbent assays (ELISA), that help diagnose rheumatology, thrombosis and gastroenterology disorders, as well as infectious diseases. It also offers a fully automated instrument and associated test kits that enable laboratories to complete multiple assays and deliver faster results than traditional ELISA tests.
Co-founder Dr. Wigbert Berg will maintain an ownership position in Orgentec and serve on the company’s board of directors.