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AAIPharma Services Corp. Names Patrick Walsh Chief Executive Officer
Date:9/14/2010

WILMINGTON, N.C., Sept. 14 /PRNewswire/ -- AAIPharma Services Corp., a leading provider of pharmaceutical product development services for more than 30 years, announced today that it has appointed Patrick D. Walsh to chief executive officer.  Water Street, a strategic private equity firm focused exclusively on health care that acquired AAIPharma Services in a divestiture transaction from its parent company in 2009, was instrumental in recruiting Mr. Walsh to the position.  

Mr. Walsh, who has nearly 30 years of pharmaceutical manufacturing experience, will focus on advancing AAIPharma's next phase of strategic growth following its establishment as a standalone company.  Mr. Walsh has served in executive roles at multiple pharmaceutical companies, including as president and CEO of Kadmus Pharmaceuticals, Inc., and president and COO of Gensia Sicor.  He also served as CEO of a specialty diagnostic company, and led the U.S. and international business groups for Fujisawa USA.  Most recently, Mr. Walsh founded a management consulting firm that assisted companies with achieving key corporate objectives in the pharmaceutical, contract manufacturing and biotechnology industries.

"Pat has an impressive record of consistently leading pharmaceutical businesses to achieve high levels of growth over the course of his career.  He is the ideal executive to advance AAIPharma Services forward, as we focus on pursuing growth opportunities through a combination of organic initiatives and strategic acquisitions.  Pat's core skills of business development, relationship-building, and sales and marketing will contribute significantly to AAIPharma and our goal of building it into the leading provider of pharmaceutical development services," said Pete Strothman, a principal with Water Street and a member of AAIPharma Services' board of directors.

In addition to his executive experience, Mr. Walsh has served on the boards of director
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SOURCE AAIPharma Services Corp.
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