WAYNE, PA — Renovus Capital Partners has sold its portfolio company Pillr Health, a technology-enabled pharmacy optimization platform serving healthcare providers nationwide, to Water Street Healthcare Partners, marking the close of a multi-year growth push that transformed the business into a scaled, software-driven healthcare services firm.
Renovus first partnered with the company in 2019, backing its evolution from a legacy 340B third-party administrator into a broader platform offering pharmacy optimization, compliance support, and specialty pharmacy solutions. During Renovus’ ownership, Pillr Health expanded its product capabilities, invested heavily in technology and talent, completed multiple strategic acquisitions, and unified its offerings under the Pillr Health brand.
“Renovus was an outstanding partner throughout a period of significant growth and transformation for our company,” said Skip Devanny, chief executive officer of Pillr Health. He said the firm’s collaborative approach and sector expertise helped accelerate innovation and strengthen the platform as healthcare providers face mounting regulatory and operational complexity. “We are proud of what we built together and excited for the next chapter for Pillr Health.”
Today, Pillr Health supports hundreds of healthcare organizations with a suite of software and services designed to streamline pharmacy operations, strengthen compliance, and improve financial and operational performance. The company’s cloud-based platform and healthcare-focused team have positioned it as a partner to hospitals, health systems, and other providers across the country.
Renovus leaders said the transaction reflects the firm’s strategy of partnering with mission-driven businesses and scaling them through operational and technology investments.
“Pillr Health exemplifies the type of company we seek to partner with,” said Brad Whitman, founding partner at Renovus Capital Partners. He said the firm was proud of the progress achieved alongside management and described the sale as a strong outcome for all stakeholders that positions Pillr Health for continued growth.
Piper Sandler served as exclusive financial advisor to Pillr Health on the transaction. Financial terms were not disclosed.
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