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

s of more than 10 companies in the pharmaceutical and contract manufacturing industries.  L. Lee Karras, who led AAIPharma Services through its transition to an independent company, will continue in his role as president and will also assume the responsibility of chief operating officer.  He will work closely with Mr. Walsh to implement the company's strategic growth plan.

"AAIPharma Services is highly regarded for its expertise and ability to collaborate with its customers to consistently deliver high-quality results.  It is this unique value proposition, which the company has honed over the past 30 years that will serve as the foundation for our future," said Mr. Walsh.  "I look forward to working with the team to determine how we can best build on the company's core capabilities to provide even greater value to our customers and expand our presence on a much greater scale globally."

About AAIPharma Services Corporation

AAIPharma Services Corp. is a leading provider of services that encompass the entire process of pharmaceutical drug development from discovery through commercialization. The company specializes in analytical chemistry, formulation development, clinical packaging, oral drug delivery and contract manufacturing. AAIPharma Services serves more than 300 large pharmaceutical and biotechnology companies throughout North America.  It is headquartered in Wilmington, North Carolina.  For more information on the company, visit www.aaipharma.com.

About Water Street Healthcare Partners

Water Street Healthcare Partners is a strategic private equity firm focused exclusively on health care.  The firm has a strong record of building market-leading companies across key growth sectors in health care.  It has partnered with some of the world's leading health care companies on its investments including: Johnson & Johnson, Medtronic and Sm
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SOURCE AAIPharma Services Corp.
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