Title: Sung-Dae Hong Joins StatLab as CEO, Igniting Transformation in the Company

StatLab Medical Products, a leading developer and manufacturer of diagnostic supplies and equipment, has appointed Sung-Dae (Dae) Hong as its new Chief Executive Officer (CEO) and Board Member. With extensive experience in global strategy and general management, Dae is poised to lead StatLab to new heights and ignite transformation within the organization.

MCKINNEY, Texas, August 28, 2023 - StatLab Medical Products is excited to announce the appointment of Sung-Dae Hong as its new Chief Executive Officer (CEO) and Board Member. Dae brings over twenty years of global strategy and general management experience to the company, making him an excellent fit to lead its global business operations. The Board of Directors and Executive Chairman, Joe Bernardo, expressed their confidence in Dae's ability to drive strategic growth and transform the organization.

"Dae's dynamic leadership and experience in driving strategic growth through manufacturing and M&A align perfectly with the opportunity facing StatLab," stated Joe Bernardo. "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 appointment as CEO will help propel the company's growth and solidify its position in the market."

Dae's previous role as President of Laboratory Products at Thermo Fisher Scientific provided him with valuable insights into overseeing a diversified global business with manufacturing sites serving life sciences and diagnostics. Prior to that, he held various Vice President and General Manager roles within the organization and began his career as a management consultant at Bain & Company, where he led projects on growth strategy, M&A, and commercial due diligence.

Expressing his excitement about joining StatLab, Dae said, "I am incredibly honored to join StatLab and to partner with this talented team in delivering value to our customers, stakeholders, and each other. Together, we will build a global organization that recognizes and celebrates growth, impact, and progress in everything we do. I look forward to working with Joe, the Board, and our sponsors to realize the company's full potential and embark on our next phase of growth."

StatLab Medical Products, founded in 1976, specializes in developing and manufacturing anatomic pathology consumables and labeling and tracking equipment for clinical and research laboratories. With manufacturing sites in England, Wales, and the USA, the company ensures a stable supply chain of high-quality products for laboratories worldwide. Its customer-centric approach prioritizes reliability, innovation, and quality in every interaction.

StatLab's sponsors, Audax Private Equity and Linden Capital Partners, have played a vital role in the company's growth and success. Audax Private Equity, based in Boston and San Francisco, is a leading middle-market investment firm with a focus on fueling revenue expansion and equity value increase in portfolio companies. Linden Capital Partners, a Chicago-based private equity firm, specializes exclusively in the healthcare industry and brings both private equity and operating expertise to its investments.

With Dae Hong taking the helm as CEO, StatLab is poised for a transformative journey. His extensive experience and dynamic leadership will undoubtedly propel the company towards greater success in the anatomical pathology industry. As StatLab continues to deliver value to its customers and stakeholders, it remains committed to its mission of providing innovative, high-quality products to laboratories worldwide.

For more information about StatLab Medical Products, please visit [StatLab.com](https://www.statlab.com/).

About Linden Capital Partners

Linden Capital Partners, founded in 2004, is a Chicago-based private equity firm that focuses exclusively on the healthcare industry. With significant expertise and a dedicated healthcare approach, Linden invests in middle-market platforms in medical products, specialty distribution, pharmaceuticals, and healthcare services. Linden has raised over $7 billion in limited partner commitments and has invested in over 40 healthcare companies since its inception.

For more information about Linden Capital Partners, please visit [www.lindenllc.com](http://www.lindenllc.com).

About Audax Private Equity

Audax Private Equity, based in Boston and San Francisco, is a leading middle-market investment firm with a focus on the healthcare industry. With over $16 billion in assets under management, Audax has a disciplined buy-and-build approach across six core industry verticals. Through organic and inorganic growth initiatives, Audax helps portfolio companies optimize operations and significantly increase equity value.

For more information about Audax Private Equity, please visit [AudaxPrivateEquity.com](https://www.audaxprivateequity.com/).