CHICAGO — Water Street Healthcare Partners, a private investment firm focused on building leading healthcare businesses, has announced the appointment of David M. Johnston, Ph.D., a seasoned biopharmaceutical executive, to bolster its pharmaceutical services and life sciences initiatives.
Johnston joins Water Street after a distinguished career at Thermo Fisher Scientific, where he was part of the corporate leadership team and led its contract research organization (CRO), PPD. In his new role, Johnston will collaborate with Water Street’s investment professionals and healthcare executives to identify and support pharmaceutical services and life sciences businesses seeking to achieve accelerated growth and value creation.
“I’m excited to work with Water Street’s team to advance our shared mission of building businesses that make meaningful contributions to the pharmaceutical and life sciences sectors and, most importantly, improve patient care,” Johnston said. “With new therapeutic modalities and digital technologies emerging across the industry, it’s a dynamic time to drive innovation and growth. Water Street stands out as a strategic partner with the expertise and resources needed to help companies navigate complex regulatory environments and achieve their growth objectives.”
Johnston brings more than 25 years of leadership experience in clinical research to the firm. During his tenure as president of PPD, he played a pivotal role in positioning the CRO as a leader in managing complex clinical studies and advancing innovative therapies. Before PPD’s integration into Thermo Fisher, Johnston led the organization’s early and late-phase global clinical development operations and previously oversaw its laboratory businesses.
He began his career at LabCorp, where he rose to the role of senior vice president and global head of clinical trials. Notably, Johnston contributed to the development of the industry’s first companion diagnostic test created alongside a therapeutic. Throughout his career, he has lectured at universities and published peer-reviewed research on various clinical research topics.
Johnston’s appointment reinforces Water Street’s growing footprint in pharmaceutical services and life sciences. The firm has completed over 70 transactions across numerous healthcare sub-sectors, building a robust portfolio of companies that advance drug and device development and commercialization.
“David’s deep expertise and leadership in clinical research and life sciences will be invaluable as we continue to partner with companies at the forefront of pharmaceutical innovation,” Water Street said in a statement. “His addition reflects our ongoing commitment to expanding our capabilities and driving transformative growth in this critical sector.”
