STERIS Acquires Key Surgical from Water Street

Surgical Information Systems Acquires Surgical Notes from Capstreet

October 10, 2025

Healthcare Services

Surgical Information Systems (SIS), owned by Nordic Capital, acquired Surgical Notes from Capstreet (Capstreet IV) with the transaction completed on November 15, 2024. Surgical Notes, headquartered in Dallas, Texas, provides ASC-focused revenue cycle management, coding, transcription and document management services; Capstreet had owned the company since 2019 and helped scale the business via technology development and add-on acquisitions.

Water Street Healthcare Partners Invests in Alcor Scientific

March 9, 2022

Medical Devices

Water Street Healthcare Partners has made a strategic investment in Alcor Scientific to support the diagnostic- and medical-device maker's product development, geographic expansion and M&A growth strategy. As part of the partnership Alcor appointed diagnostics executive Jim Post as CEO and will leverage Water Street's capital and industry expertise to expand its product portfolio and global reach.

Evoqua Water Technologies Acquires Renal Business from STERIS (Mar Cor / Cantel Operations)

January 3, 2022

Industrial Services

Evoqua Water Technologies has closed the acquisition of the renal business historically operated by Mar Cor Purification and Cantel Medical, subsidiaries of STERIS Plc. The acquired business, expected to generate approximately $180 million of annualized revenue and $27 million of adjusted EBITDA (pre-synergies), expands Evoqua’s service footprint in North America and furthers its reach into the healthcare vertical.

STERIS Acquires Cantel Medical Corp.

January 12, 2021

Medical Devices

STERIS plc agreed to acquire Cantel Medical Corp. in a cash-and-stock transaction valuing Cantel at approximately $3.6 billion equity ($4.6 billion enterprise), paying $84.66 per Cantel share. The deal expands STERIS’s infection‑prevention and endoscopy capabilities and extends the company into dental customers, with expected pre‑tax cost synergies of ~$110 million by year four and accretion to adjusted EPS in year one.

Accel-KKR Acquires Majority Stake in Surgical Information Systems; Norwest Retains Minority

October 19, 2020

Healthcare Services

Accel-KKR completed a majority equity investment in Surgical Information Systems (SIS) on October 15, 2020, in a recapitalization that sees Norwest Equity Partners retain a minority ownership stake and invest alongside Accel-KKR. The transaction will support SIS’s growth and accelerate adoption of its cloud-based EMR and perioperative SaaS offerings for ambulatory surgery centers and hospitals; financial terms were not disclosed.

Key Surgical Acquires Insitumed GmbH

July 21, 2019

Medical Devices

Key Surgical LLC, a portfolio company of Water Street Healthcare Partners, has signed an agreement to acquire Insitumed GmbH, a Hamburg-based endoscopy product company. The deal expands Key Surgical's endoscopy product portfolio and extends its global footprint; financial terms were not disclosed.