Water Street Invests in RTI Biologics

RTI Biologics has agreed to buy Pioneer Surgical Technology and is paying $130 million cash for the company's stock. Water Street Healthcare Partners is providing a $50 million private placement of preferred equity to support the deal. TD Bank, N.A., TD Securities “USA” LLC and Regions Bank are providing a 5-year, $80 million senior secured facility. RTI will appoint two directors designated by Water Street to serve on the combined company’s board. Alachua, Fla.-based RTI provides orthopedic and other biologic implants.

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