Sung-Dae Hong Named CEO of StatLab

StatLab Medical Products has appointed Sung-Dae (Dae) Hong as CEO and board member. Executive Chairman Joe Bernardo, an operating partner at Linden Capital Partners, was interim chief executive and will continue to serve as chairman.
 
“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,” Bernardo said. “With two strategic acquisitions completed and a 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.”
 
Hong brings more than 20 years of global strategy and general management experience to StatLab. Most recently, he was president of Laboratory Products at Thermo Fisher Scientific, where he oversaw a diversified global business with more than 20 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 United States, where he led projects on growth strategy, M&A, and commercial due diligence.
 
“I am honored to join StatLab and to partner with this 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,” Hong stated. “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.”
 
Founded in 1976, StatLab Medical Products develops and manufactures anatomic pathology consumables and labeling and tracking equipment for clinical and research laboratories. StatLab manufacturing sites in England, Wales, and the United States support its goal of providing the most stable supply chain of high-quality products for laboratories worldwide. 
 
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. Its 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 more than 40 healthcare companies encompassing over 250-plus total transactions. The firm has raised more than $7 billion in limited partner commitments since inception. 
 
Based in Boston and San Francisco, Audax Private Equity is a middle market investment firm with approximately $16 billion of assets under management, more than 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 its 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, an alternative investment manager with approximately $36 billion of assets under management.