Local Tech Wire

WILMINGTON, N.C. – , which split off from parent firm AAIPHarma last year, now has its first chief executive officer.

Patrick Walsh, a veteran with nearly three decades of experience in pharmaceutical manufacturing, takes over the Wilmington-based company.

Water Street, the private equity firm that bought the pharma development business from AAIPharma, recruited Walsh for the post.

Walsh most recently led his own management consulting firm. Walsh’s previous experience included stints as CEO at Kadmus Pharmaceuticals, chief operating officer at Gensia Sicor and CEO at a diagnostic firm.

"Pat has an impressive record of consistently leading pharmaceutical businesses to achieve high levels of growth over the course of his career,” said Pete Strothman, principal at Water Street who also serves on the AAIPharma Services board.

L. Lee Karras, president of AAIPharma, remains with the company and also is now COO.

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