Brea, CA., January 25, 2021 – Life Science Outsourcing, Inc. (“LSO” or the “Company”), an established certified contract manufacturer and value-added service provider to medical device and life science companies, is pleased to announce that it has received a majority equity investment from New York-based PPC Enterprises LLC (“PPC”), a leading private equity firm focused on service businesses in North America. The new strategic partnership will focus on expanding services and geographic reach with Founder and CEO, Barry Kazemi, continuing to retain a significant ownership stake and lead the Company.
LSO, which is headquartered in Brea, California, has successfully worked with more than 850 medical device startups as a trusted outsource partner by accelerating product speed to market and enabling customers to continually develop increasingly complex and innovative commercial medical devices. The Company’s customers span a broad range of end-markets including orthopedic, spine, dental, vision, biotech, drug delivery combination and pharma surgical devices.
“We are excited about the partnership and the growth opportunities it presents,” said Barry Kazemi, Founder and CEO of LSO. “PPC’s experience in the medical device and life sciences industries will enable us to build upon our existing capabilities and offer more complete product life cycle support to our valued customers.”
Asif Zaman, Managing Director and Head of Healthcare at PPC commented, “LSO has built an exceptional reputation for its medical device assembly expertise, speed to market and standards of excellence. Not only does LSO have long-standing relationships with some of the most well-respected OEMs but the Company has also successfully partnered with cutting-edge medical technology players in bringing innovative and disruptive products to market. We look forward to building upon LSO’s track record and accelerating growth.”
John Morgan, an Operating Partner at PPC added, “To have the opportunity to work with Barry Kazemi and his team to expand its customer base, invest in new service offerings and continue to position LSO as a leader in working with the very best companies in the medical device and technology industry is a privilege.”
Stout served as the exclusive financial advisor and K&L Gates LLP as legal advisor to LSO. McDermott Will & Emery LLP served as legal advisor to PPC.
About Life Science Outsourcing
LSO is an FDA registered and ISO 13485 certified full-service medical device contract manufacturer. The Company offers clients services including medical device manufacturing, medical package testing, sterilization validation, fulfillment & distribution, cleaning & decontamination and quality incubator services. LSO was founded by CEO Barry Kazemi in 1997 and is headquartered in Brea, CA. For more information, please visit www.lso-inc.com.
About PPC Enterprises
Public Pension Capital is a New York-based private equity fund, founded by former senior partners of Kohlberg Kravis Roberts & Co. PPC invests in a select group of industries, including Business and Financial Services, Industrial Services and Healthcare Services. For more information, please visit www.ppcenterprises.com.
