Water Street Healthcare Partners has acquired Pillr Health from Renovus Capital Partners. The deal brings Pillr, a Boca Raton-based software and tech-enabled pharmacy solutions provider founded in 2003, into Water Street's healthcare-focused portfolio. This transaction adds a tech-enabled pharmacy asset to the firm's investment holdings.

Water Street, a Chicago-based private equity firm established in 2005, concentrates exclusively on the healthcare sector. The acquisition aligns with a broader trend of private equity firms investing in healthcare technology and services, seeking to digitize and streamline pharmacy operations for better efficiency and patient outcomes.

While financial terms were not disclosed, the move signals Renovus's strategy of exiting mature investments. For Water Street, Pillr represents a platform asset to potentially scale within the pharmacy software market. Investors should watch for integration plans and how Pillr's tech stack might be leveraged across other healthcare assets.