Transaction marks successful partnership supporting the transformation of a leading pharmacy optimization platform

Renovus Capital Partners (“Renovus”), a private equity firm focused on investing in growth-oriented businesses in the Knowledge and Talent industries, today announced the sale of its portfolio company Pillr Health, a technology-enabled pharmacy optimization platform serving healthcare providers nationwide, to Water Street Healthcare Partners.

Renovus first partnered with the business in 2019, supporting its evolution from a legacy 340B third-party administrator into a scaled, software-enabled platform offering a comprehensive suite of pharmacy optimization, compliance, and specialty pharmacy solutions. During Renovus’ ownership, Pillr Health expanded its product capabilities, invested meaningfully in technology and talent, completed multiple strategic acquisitions, and rebranded the combined platform under the Pillr Health name.

“Renovus was an outstanding partner throughout a period of significant growth and transformation for our company,” said Skip Devanny, CEO of Pillr Health. “Their collaborative approach, deep sector knowledge, and long-term mindset helped us accelerate innovation, strengthen our platform, and better serve healthcare providers navigating an increasingly complex pharmacy environment. 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 robust suite of software and services designed to streamline pharmacy operations, enhance compliance, and improve financial and operational outcomes. The company’s scalable, cloud-based platform and healthcare-native team have positioned it as a trusted partner to hospitals, health systems, and other healthcare providers across the country.

“Pillr Health exemplifies the type of company we seek to partner with. It is mission-driven and focused on delivering meaningful value to its customers,” said Brad Whitman, Founding Partner at Renovus Capital Partners. “We are incredibly proud of the progress Pillr made during our partnership and grateful to have worked alongside such a talented management team. This transaction represents a successful outcome for all stakeholders and positions Pillr Health well for continued growth.”

Piper Sandler acted as exclusive financial advisor to Pillr Health on the sale. Financial details are not disclosed.

About Pillr Health

Pillr Health is a technology-enabled pharmacy optimization platform that helps healthcare providers streamline pharmacy operations, ensure regulatory compliance, and enhance financial performance. Combining modern, intuitive software with expert-led services, Pillr Health supports hospitals and health systems across a broad range of pharmacy programs and care settings.

About Renovus Capital Partners

Founded in 2010, Renovus Capital Partners is a lower middle-market private equity firm specializing in the Knowledge and Talent industries. From its base in the Philadelphia area, Renovus manages over $2 billion of assets across its several sector-focused funds. The firm's current portfolio includes over 30 U.S.-based businesses specializing in education and workforce development and services companies in the technology, healthcare, and professional services markets. Renovus typically makes control buyout investments in founder-owned businesses, leveraging its industry expertise and operator network to make operational improvements, recruit top talent and pursue add-on acquisitions. Visit us at www.renovuscapital.com and follow us on LinkedIn.

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