PRESS RELEASE
For Immediate Release
Contact: Chris Tofalli
Phone: 914-834-4334
Linden Announces Appointment of Richard Novak as Operating Partner
Former LabCorp COO
Expands Firm’s Operating Expertise
Chicago, Illinois (August 28, 2008) - Linden LLC, a Chicago-based private equity firm that focuses
on middle market leveraged buyout investments in the healthcare and life
science sector, today announced that it has further
enhanced its operating talent with the addition of Richard L. Novak as an Operating Partner.
Mr. Novak, a 30-year veteran of the healthcare industry, has extensive experience within the clinical laboratory and diagnostic
spaces. Rich most recently served as Chief Operating Officer of Laboratory Corporation of America (“LabCorp”), a publicly traded
company (NYSE: LH) where he led an operating team that produced a sixty-fold increase in market cap from 1997-2006. In 2007,
LabCorp grossed $4.1 billion in sales and tested more than 370,000 specimens daily for over 220,000 clients nationwide throughout
36 primary testing centers and 1,600 patient service centers. Prior to his experience at LabCorp, Mr. Novak spent 15 years at
SmithKline serving in roles of increasing responsibility, culminating as the Senior Vice President of Operations of the clinical
laboratory business. Mr. Novak began his healthcare career at Bayer (Miles Lab) serving as a Vice President of Sales for six years.
In addition to domestic and international operations, Mr. Novak has also managed the functions of sales & marketing, strategic planning, mergers
& acquisitions and licensing. Rich earned a B.S. in Marketing from the University of Maryland.
Mr. Novak augments Linden’s prestigious group of Operating Partners who collectively have over a century of healthcare experience.
Rich will work closely with Linden’s investment team in sourcing and diligencing new opportunities as well as supporting portfolio
companies. Linden anticipates that Rich will serve as a Board Member of at least one platform company within his areas of expertise:
the clinical laboratory and diagnostics industries.
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 key elements: i) healthcare and life science industry specialization, ii)
integration of transaction and operating expertise, and iii) strategic relationships with large corporations. Linden’s portfolio
includes BarrierSafe Solutions International (infection control products), Behavioral Centers of America (behavioral health
facilities), Focused Health Solutions (disease management), Ranir (oral care products), and Suture Express (specialty distribution).
For additional information, please visit www.lindenllc.com.
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