Linden Capital Partners

Linden is pleased to announce a passive, minority investment from Blue Owl's GP Strategic Capital platform and Lunate Capital via their joint venture. The passive minority investment supports the continued growth of Linden's investment platform and development of strategic initiatives by bringing additional flexibility to the firm's balance sheet. The investment will not have an impact on the day-to-day management and investment strategies of Linden. Linden was advised by Evercore as financial advisor and Kirkland & Ellis as legal counsel. Blue Owl was advised by BofA Securities as financial advisor and by Fried, Frank, Harris, Shriver & Jacobson LLP as legal counsel. https://lnkd.in/eGK5fwPQ

Linden Capital Partners announced today the completion of its acquisition of Alcresta Therapeutics, Inc., a leader in commercializing novel enzyme-based products designed to address challenges faced by patients living with gastrointestinal disorders and rare diseases. Alcresta recently announced 510(k) clearance of its next-generation RELiZORB® (iMMOBILIZED LIPASE) cartridge by the Center for Devices and Radiological Health of the U.S. Food and Drug Administration. The next-generation RELiZORB device was developed to address the enteral nutrition needs of a wider population of patients living with rare diseases and is expected to launch in Q2 2024. #healthcare; #medtech ; #privateequity https://lnkd.in/geNjjrn4

MeriCal, LLC, a developer, manufacturer, and packager of probiotic and other nutritional supplements, is pleased to announce the appointments of Eric Bauer as CEO and Jim Hamilton as member of the Board of Directors. Furthermore, Linden Operating Partner Ron Fugate will assume the role of Chairman.

Linden announced today an agreement to sell Specialty Networks, LLC to Cardinal Health, Inc. (NYSE: CAH) for $1.2 billion in cash. The acquisition is subject to customary closing conditions. Specialty Networks, a portfolio company of Linden, is an integrated, multi-specialty platform with GPOs , life sciences solutions, and research solutions in gastroenterology, urology, and rheumatology.

StatLab Medical Products (“StatLab”), a developer and manufacturer of medical diagnostic supplies and equipment, has signed a definitive agreement to purchase Waldemar Knittel Glasbearbeitungs GmbH (“Knittel”), a manufacturer of microscope slides and cover glass and provider of engineering consulting services. This business combination adds self-manufacturing capabilities for key slide and cover glass products to StatLab’s existing product portfolio and expands the global presence of the combined business with two additional locations in Germany.

Pinnacle Treatment Centers, a provider of comprehensive addiction treatment services, announced today that it has named Michael Lawler as Chief Executive Officer. Mr. Lawler is an accomplished executive with over 30 years of healthcare experience, most recently as the Chief Executive Officer of CHE Behavioral Health Services. Prior to CHE Behavioral Health Services, Mr. Lawler served as the Chief Operating Officer of TwinMed and also held leadership roles at Alliance Healthcare Services and Apria Healthcare. Joe Pritchard will transition from his current role as CEO to Senior Advisor and remain a board member of the Company.

Dae Hong joins StatLab as CEO StatLab, 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 CEO and Board Member. Joe Bernardo, Executive Chairman and Linden Operating Partner, has been serving as Interim CEO and will continue in his role as Board Chairman. Hong brings over twenty years of global strategy and general management experience to StatLab. Most recently, he 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. Hong 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.

Linden Welcomes René Lorenz as Operating Partner Linden Capital Partners is pleased to announce the appointment of René Lorenz as an Operating Partner. Mr. Lorenz brings over 38 years of experience in the technology and biopharmaceutical services industries. Most recently, he served as the Chief Business Officer at IQVIA, where he was responsible for pricing strategies, strategic negotiations, business operations, and global sales. #healthcareprivateequity