Renovo Solutions has received a growth investment from strategic health care investor Water Street Healthcare Partners.
“One of the only national providers focused exclusively on managing health care and life sciences equipment and technology, Renovo will collaborate with Water Street to expand its unique offering,” a news release states. “The company also announced that it has recruited Bill Newell, a longtime executive who has served in leadership positions with Cardinal Health, Baxter and Dentsply Sirona, to join its leadership team as chief executive officer.”
Renovo Co-founder Sandy Morford said he is excited about Renovo’s future.
“I’m very excited about the steps we’re taking to advance Renovo and our one-of-a-kind offering. My colleagues, Haresh Satiani, Joe Happ, Don Carson and I founded this company with a clear mission: to reinvent the concept of medical and life sciences equipment management,” Morford said. “We have accomplished this and so much more. Bill and the Water Street team are the ideal partners to help us build on our strong foundation, expand our innovative customer solutions and take Renovo to the next level.”
Already growing at a double-digit pace, Renovo plans to leverage Water Street’s investment, health care expertise and network of resources to:
To spearhead the company’s expansion, Renovo and Water Street partnered to recruit Newell to serve as CEO. An experienced health care leader, Newell has a strong track record of growing global businesses and building high-performance teams. Highlights include:
“I am very proud to work with Sandy, Renovo’s co-founders and the entire team to advance the company’s mission,” Newell said. “Renovo’s people, innovative technology solutions and commitment to going above and beyond on behalf of its customers are unmatched. Working together, we will invest to expand and enhance Renovo’s capabilities to address the full spectrum of customers’ constantly changing needs in managing their technology assets.”
Newell will join Morford on Renovo’s board of directors. In addition, Morford will dedicate his time to working with Renovo’s national network of customers, serving as chief commercial officer. Joe Happ and Haresh Satiani will continue to serve in their leadership roles.
For more information, visit renovo1.com.
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