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Industry Veteran Hank Struik Appointed as LABSCO's CEO


12/19/2012 7:41:32 AM

LOUISVILLE, Ky., Dec. 19, 2012 /PRNewswire/ -- LABSCO, a leading distributor of innovative diagnostic technologies and laboratory products to hospitals, physician office laboratories and alternate healthcare settings, has appointed Hendrik "Hank" Struik as its new chief executive officer (CEO) to take the Company through its next growth phase. Struik will succeed Steve Nielsen, who will be transitioning from his role as chairman and CEO to a full-time director position with the Company's board.

"After two very productive years at LABSCO, I am looking forward to taking a temporary step back from my professional life to spend more time with my family. This decision has been made much easier by Hank. I have full faith that he will leverage LABSCO's employee talent, our renowned laboratory expertise and the business enhancements we have made over the last two years to take LABSCO to a whole new level," Nielsen said. "Hank's expertise in healthcare business management and his creativity complement our strategic direction, and as such he is in the best position to propel LABSCO's growth."

Prior to taking the helm at LABSCO, Struik was an operating partner at Frazier Healthcare, a private equity firm that partnered with the previous owners, the Davis Family of Louisville, to acquire LABSCO in early 2011. He joined Frazier Healthcare in July of this year, working with the firm's Growth Equity team to identify investment opportunities in differentiated medical products, supplies, devices and outsourced technology-enabled services. Prior to joining Frazier Healthcare, Struik served as the CEO and president of Sarnova from 2009 to 2012, a provider of healthcare products to the emergency medical and acute care services markets.

"I am excited to work with the LABSCO team to continue to build on the foundation manifested under Steve's leadership, and to further articulate and differentiate the value of our offerings in the industry," Struik said. "LABSCO has the number one laboratory specialists in the industry, a strong customer focus, and unparalleled domain knowledge. With many of the organizational enhancements that have been made, and the installation of a state-of-the art technology infrastructure, LABSCO is ready to maximize its strengths internally and externally."

Prior to Sarnova, Struik spent more than 20 years with Baxter, Allegiance and Cardinal Health. While at Cardinal, he served as the president of its $850 million respiratory and neurocare unit.

About LABSCO

Founded in 1972, LABSCO is the largest privately held distributor of clinical laboratory products in the United States. LABSCO is known for its expertise in clinical laboratory science, technology and service, and is a full line distributor of diagnostic systems and laboratory supplies to the physician office laboratory (POL) and other alternate care settings. For additional information, please visit the company's website at www.labsco.com.

About Frazier Healthcare

Frazier Healthcare, founded in 1991 to invest exclusively in healthcare, is a leading provider of growth equity and venture capital to high growth and emerging health care companies. For more information, please visit the company's website at www.frazierhealthcare.com.


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