StatLab Medical Products (“StatLab” or “the Company”), a developer and manufacturer of diagnostic supplies and equipment, is pleased to announce that its Board of Directors has appointed Sung-Dae (Dae) Hong as Chief Executive Officer (CEO) and Board Member, effective August 28, 2023. Joe Bernardo, Executive Chairman and Linden Operating Partner, has been serving as Interim CEO and will continue in his role as Board Chairman.

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Sung-Dae Hong, StatLab CEO (Photo: Business Wire)

“The Board and I are confident that Dae is not only an excellent fit to lead our global business, but also that his dynamic leadership will ignite transformation in the organization around him,” stated Joe. "With two strategic acquisitions completed and a strong, collaborative leadership team in place, we believe we're on track to become a differentiated leader in the anatomical pathology industry. Dae's experience in driving strategic growth through manufacturing and M&A aligns well with the opportunity facing the Company."

Dae brings over twenty years of global strategy and general management experience to StatLab. Most recently, Dae served as President of Laboratory Products at Thermo Fisher Scientific where he oversaw a diversified global business with over twenty manufacturing sites serving life sciences and diagnostics. Prior to that, he held multiple Vice President and General Manager roles and began his tenure at Thermo Fisher as the Head of Corporate Strategy. Dae spent the first decade of his career as a management consultant at Bain & Company in Australia, Korea, and the U.S., where he led projects on growth strategy, M&A, and commercial due diligence.

“I am incredibly honored to join StatLab and to partner with this talented team with a shared goal of delivering value to our customers, stakeholders, and ultimately, each other, as we strive to build a global organization that recognizes and celebrates growth, impact, and progress in everything we do,” said Dae. “I look forward to working with Joe, the Board, and our sponsors, Audax Private Equity and Linden Capital Partners, to realize the Company’s full potential over the coming years. I’m excited as we embark on our next phase of growth.”

About StatLab Medical Products

Founded in 1976, StatLab Medical Products is a developer and manufacturer of anatomic pathology consumables and labeling and tracking equipment for clinical and research laboratories. StatLab manufacturing sites in England, Wales and the USA support our goal of providing the most stable supply chain of high-quality products for laboratories around the world. A customer-centric approach drives our focus to deliver reliability, innovation, and quality in every interaction. Learn more at StatLab.com.

About Linden Capital Partners

Linden Capital Partners is a Chicago-based private equity firm focused exclusively on the healthcare industry. Founded in 2004, Linden is one of the country’s largest dedicated healthcare private equity firms. Linden’s strategy is based upon three elements: (i) healthcare specialization, (ii) integrated private equity and operating expertise, and (iii) its differentiated human capital program. Linden invests in middle market platforms in the medical products, specialty distribution, pharmaceutical, and services segments of healthcare. Since its founding, Linden has invested in over 40 healthcare companies encompassing over 250+ total transactions. The firm has raised over $7 billion in limited partner commitments since inception. For more information, please visit www.lindenllc.com.

About Audax Private Equity

Based in Boston and San Francisco, Audax Private Equity is a leading middle market investment firm with approximately $16 billion of assets under management, over 185 employees, and 85-plus investment professionals. Since its founding in 1999, the firm has invested in more than 160 platforms and 1,200 add-on acquisitions. Through our disciplined buy-and-build approach, across six core industry verticals, Audax helps portfolio companies execute on organic and inorganic growth initiatives that fuel revenue expansion, optimize operations, and significantly increase equity value. Audax Private Equity is a part of Audax Group, a leading alternative investment manager with approximately $36 billion of assets under management. For more information, visit AudaxPrivateEquity.com or follow us on LinkedIn.

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