Healthcare Industry News: CORPAK
News Release - March 30, 2010
Hycor Biomedical Announces Appointment of Dick Aderman as President and CEOFormer Roche Executive to Lead Growth of Linden Portfolio Company
GARDEN GROVE, Calif., March 30 -- (Healthcare Sales & Marketing Network) -- Hycor Biomedical Inc., a leading manufacturer and marketer of in vitro diagnostic products for the global allergy, autoimmune and urinalysis markets used in clinical laboratories throughout the world, today announced the appointment of Dick Aderman as President and CEO.
Mr. Aderman has served in senior management positions for a number of public and privately held companies during his 30-year career. As a Senior Vice President with Roche Diagnostics Corporation (VTX: ROG.VX), a global leader in diagnostic research, products, and services, he directed the commercial operations of the nearly $700 million laboratory division of Centralized and Molecular Diagnostics. Prior to Mr. Aderman's role at Roche Diagnostics, he was Vice President of Marketing at Boehringer Mannheim Corporation and Dade International.
"Dick is a global business leader who has demonstrated consistent leadership and success in producing strong customer satisfaction and growth. With his background at Roche and Dade, Dick is already familiar with the customers and competitors in the in vitro diagnostics marketplace. We are confident that his experience combined with his effective management skills will accelerate Hycor's long-term growth as a stand-alone business," said Richard Novak, Chairman of Hycor's Board of Directors, and Operating Partner at Linden LLC, the Chicago-based healthcare private equity firm that acquired Hycor last month from Agilent Technologies. Mr. Aderman's appointment is the result of a long relationship cultivated through Linden's Corporate Relationship and Operating Partner Programs.
"I am very excited to be working with Linden and the team at Hycor. Diagnostics remains the best value in healthcare and Hycor is committed to providing even greater value to our customers moving forward. Hycor has a long solid history in our industry and it provides an excellent platform on which to build a larger diagnostics company focused on meeting the needs of our customers," said Mr. Aderman.
About Hycor Biomedical, Ltd.
Founded in 1981 and based in Garden Grove, California, Hycor is a global manufacturer and marketer of in vitro diagnostics products. A series of acquisitions since its founding have expanded the company's presence into urinalysis, allergy and autoimmune products used in clinical laboratories, hospitals and doctors' offices worldwide. Among its products, Hycor markets the HYTEC™, KOVA® and AUTOSTAT™ brands. The company is focused on delivering products that provide the highest value to clinicians through innovation, reliability and customer service. For more information, please visit www.hycorbiomedical.com.
About Linden LLC
Linden is a Chicago-based private equity firm focused exclusively on leveraged buyouts in the healthcare and life science industries. Linden's strategy is based upon three elements: i) healthcare and life science industry specialization, ii) integrated private equity and operating expertise, and iii) strategic relationships with large corporations. Linden's portfolio includes BarrierSafe Solutions International, Behavioral Centers of America, CORPAK MedSystems, Drayer Physical Therapy Institute, Focused Health Solutions, Hycor Biomedical, and Ranir. For additional information, please visit www.lindenllc.com
Source: Hycor Biomedical
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