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Cambridge Major Laboratories And AAIPharma Services Appoint Patrick D. Walsh As CEO Of Merged Company

GERMANTOWN, Wis. and WILMINGTON, N.C., Oct. 29, 2013 /PRNewswire/ --  Cambridge Major Laboratories, Inc. ("CML"), a global leader in pharmaceutical API development and manufacturing, and AAIPharma Services, Corp. ("AAIPharma"), a leading global provider of pharmaceutical analytical testing, product development and manufacturing services, announce the appointment of Patrick D. Walsh as the Chief Executive Officer (CEO) of the merged company.

(Logo: http://photos.prnewswire.com/prnh/20131029/CG06001LOGO)

Kyle Bradford, American Capital Managing Director, said, "We are very excited to be working with Pat on the continued growth of CML and AAIPharma. He is a well-respected CEO with over 30 years of leadership experience in the pharmaceutical industry.  AAIPharma's industry-leading formulation development and analytical service offerings complement CML's world-class API development and manufacturing capabilities, and the combination creates an industry-leading contract development and manufacturing organization ("CDMO") that is positioned for significant growth and expansion." "The client response to our merger announcement has been very positive," said Mr. Walsh.  "Providing an integrated service offering, coupled with a stellar regulatory track record, allows the combined business to exceed the expectations of our global pharma client base."

The combined company forms the premier global supplier of integrated CMC services, including process chemistry, solid state chemistry, API manufacturing, formulation development, analytical development and testing services, clinical and commercial finished dosage form manufacturing (oral solid and sterile), packaging and stability services.

The merger was announced by Water Street Healthcare Partners and American Capital, Ltd. (NASDAQ: ACAS).

About AAIPharma Services Corp.

AAIPharma Services Corp. is a leading provider of contract services that support all phases of drug development. The company's wide array of capabilities includes analytical and formulation development, material testing services, microbiology, clinical and commercial contract manufacturing, pharmaceutical packaging and stability services.

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