Veteran industry leader Sung-Dae Hong has been appointed chief executive officer and board member of McKinney-based StatLab Medical Products, a developer and manufacturer of diagnostic supplies and equipment.
Joe Bernardo, executive chairman and Linden Operating Partner, who has been serving as interim CEO, called Dae “an excellent fit to lead our global business” and a dynamic leader who “will ignite transformation in the organization around him.”
Bernardo will continue in his role as board chairman.
“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,” Bernardo said in a statement.
‘A global organization that recognizes and celebrates growth, impact, and progress’
The company said that Dae brings more than 20 years of global strategy and general management experience to StatLab.
He most recently 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.
Before that, Dae held multiple vice president and general manager roles after beginning at Thermo Fisher as the head of corporate strategy. He spent the first decade of his career as a management consultant at Bain & Co. in Australia, Korea, and the United States, 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,” Dae said in a statement.
Dae said he was looking forward to working with Bernardo, the Board, and company sponsors, Audax Private Equity and Linden Capital Partners, to “realize the company’s full potential over the coming years,” achieving “the next phase of growth.”
Adding manufacturing capacity in Arlington and Wales
StatLab Medical Products was founded in 1976 and is a developer and manufacturer of anatomic pathology consumables and labeling and tracking equipment for clinical and research laboratories.
In July, StatLab announced it was launching a new manufacturing facility in Arlington after acquiring two UK-based histology consumables and diagnostic equipment companies in 2021 and 2022.
Injection molding operations at the new 35,000-square-foot Arlington facility will give laboratories the confidence of additional U.S.-produced core histology consumables including cassettes, the company said.
The company also said that at the StatLab Wales campus housing CellPath operations, a lease has been signed and build-out of a 33,000-square-foot building is underway to support additional manufacturing capacity and provide expanded space for the CellNass sample archiving service.
Its 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 around the globe.
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StatLab Medical Products, a McKinney-based developer and manufacturer of medical diagnostic supplies, is launching a new manufacturing facility in Arlington after acquiring two UK-based histology consumables and diagnostic equipment companies in 2021 and 2022. Injection molding operations at the new 35,000-square-foot Arlington facility will give laboratories the confidence of additional U.S.-produced core histology consumables including cassettes, the company said. The company also said that at the StatLab Wales campus housing CellPath operations, a lease has been signed and build-out of a 33,000-square-foot building is underway to support additional manufacturing capacity and provide expanded space for the CellNass sample archiving service.…
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