Greenwich, Connecticut, United States
Aptuit, Inc. announced today that it will invest an additional $100 million in capital projects to expand capacity, improve operating efficiency, and further align its global operations. This announcement comes on the heels of the completion of two major acquisitions, SSCI and EaglePicher Pharmaceutical Services, adding world-class physical chemistry and active pharmaceutical ingredient development and manufacturing to Aptuit's already comprehensive service capabilities. The internal investment marks Aptuit's commitment to maintaining exceptional operational quality, delivering increasingly global customer projects on time, seamlessly and to exact specifications.
"During the last year, Aptuit has experienced organic revenue growth approaching 20% and enhanced our service offering substantially, in part through the strategic acquisition of new technologies, capabilities and a highly-trained employee base," said Michael Griffith, Chief Executive Officer of Aptuit. "We now plan to emphasize efforts to integrate operations and services, building a global business from the inside out."
In conjunction with the new phase of growth and investment, Aptuit has announced that it will promote and shift responsibilities for several members of its senior management team, and will add several high profile industry experts. Changes include:
-- Frank J. Wright has assumed the role of Vice Chairman, responsible for external value creation and global integration activities. Mr. Wright has also been nominated to the company's Board of Managers.
-- Scott L. Houlton has assumed the role of Chief Operating Officer, formerly held by Frank J. Wright, with responsibility for Scientific Operations, Business Process Improvement, Human Resources, Clinical Operations and Capital Development. In this new capacity, Mr. Houlton will drive performance management across all Aptuit business lines globally, with a focus on delivering industry leading client service while achieving industry appropriate financial results.
-- Michael J. Butler, PhD, President, Scientific Operations, will take responsibility for Aptuit's technology and innovation investment activities, including research and development, the scientific advisory board (SAB), headed by Stephen R. Byrn, PhD, and visioning and implementing capital investments.
-- Robert G. Burford, PhD, Managing Director, has assumed additional responsibility as Chairman of the Management Committee of Aptuit Consulting, which is on track to double in size in 2007 and plans to establish new offices Seattle, San Francisco, San Diego and Washington, D.C. Dr. Burford will also lead corporate development activities to acquire a consulting business in Europe, and lead a management committee comprised of the senior practice managers within the business. This new management committee will be initially comprised of Marc R. Cote, William D. Kerns, PhD; David E. Bugay, PhD; and Leslie Patmore, PhD. Marc R. Cote has been promoted to Chief Operating Officer, Aptuit Consulting.
A number of other significant changes and promotions were announced, including:
-- Ann W. Newman, PhD, has been promoted to the important new role of Vice President, Research & Development, and/will chair the company's Technology Development Committee.
-- Stuart E. Needleman has been promoted to Vice President, Sales and Marketing, in recognition of his meaningful success in
upgrading sales performance and improving sales processes as the interim leader of Sales.
-- Paul F. Skultety, PhD, Vice President, Scientific Development, will join the Technology Development Committee
-- Paul E. Kennedy, PhD, Director, has been named the interim head of Pharmaceutics in Kansas City
-- Jane Fraser, PhD has been promoted to Senior Manager and has been named the interim head of Pharmaceutics in Riccarton.
-- Charles D. Nardi has been promoted to Vice President, Aptuit Informatics, with responsibility for all Informatics operations globally.
-- Vikram Marla, Founder of InfoPro Solutions and the inventor of the Clinicopia software suite, has been promoted to the new position of Chief Technology Officer of Aptuit Informatics, with responsibility for visioning future software solutions and features to be incorporated into the Clinicopia suite of products.
-- Jon E. Tropsa, Co-founder of Aptuit, is transitioning from his full-time role as Chief Financial Officer to a part-time role as Vice President, Special Projects. Jon will transition his current responsibilities to Peter J. Adamski, Chief Financial Officer.
-- John M. Morrison, Director, Clinical Packaging and Logistics, has accepted interim management responsibility for all North American clinical packaging operations, reporting to Scott Houlton.
-- Panos T. Boudouvas has been named to the new position of Director, Capital Development.
-- Frank J. Manzella joins Aptuit as Director, Corporate Development.
-- Kunal Khattar is appointed Director, Corporate Development.
About Aptuit:
Aptuit, Inc. is a global company focused on streamlining and supporting the drug development process for biotechnology and pharmaceutical innovators. The company was founded by a group of industry experts with extensive market experience who have a track record of building a similar, highly successful company through acquisitions and investment. Aptuit provides a comprehensive suite of product development services and competencies to more than 500 biotechnology and large, fully integrated pharmaceutical innovators worldwide. Currently, the company has more than 2,000 employees, 15 global facilities, and resources to reach 70 countries. Aptuit's mission is to engineer a better drug development process, and is partnered with Welsh, Carson, Anderson & Stowe, one of the world's largest private equity investors. For more information about Aptuit, please visit aptuit.com.
CONTACT: Aptuit, Inc. Michael A. Griffith, CEO 203-422-6600 info@aptuit.com or Feinstein Kean Healthcare Kate Weiss, 617-577-8110 kate.weiss@fkhealth.com
CONTACT: Aptuit, Inc. Michael A. Griffith, CEO 203-422-6600 info@aptuit.com or Feinstein Kean Healthcare Kate Weiss, 617-577-8110 kate.weiss@fkhealth.com
Source: Business Wire (Business Wire India)