US-based private investment company SV Health Investors (SVHI) has confirmed its investment in the US healthcare packaging and engineering services provider Packaging Compliance Labs (PCL).
The investment in this packaging company further signifies a new platform investment for SVHI.
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SVHI said that the latest investment in PCL is in line with its ‘model’ of collaborating with various industries, founders, and entrepreneurs to develop and establish multiple healthcare services businesses.
Following this announcement, SVHI principal AJ Rossi, SVHI managing partner Greg Madden and SVHI operating partner Thomas Patton will join the PCL board of directors along with PCL co-founders Matthew Lapham and Ryan Erickson.
Rossi said: “PCL has developed an industry-leading reputation for white-glove technical testing services, while serving as a thought leader within the healthcare packaging industry.
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“We look forward to partnering with PCL to support their continued growth through investment in rapidly expanding operations and strategic add-on acquisitions.”
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By GlobalDataSVHI’s legal advisor for this transaction was Morgan, Lewis & Bockius while Honigman served as the legal advisor to PCL.
PCL president and CEO Matthew Lapham said: “PCL is excited to accelerate our growth together with SV Health Investors.
“SV’s extensive industry experience and strong operational resources will be an asset to PCL as we continue to scale and provide timely, expert solutions to our clients.”
The Grand Rapids, Michigan-headquartered PCL was founded in 2014 and specialises in delivering healthcare packaging engineering, validation testing, as well as contract packaging services to pharmaceutical and medical device industries.
Aside from providing packaging solutions, it also offers support to its customers at every step of packaging, starting from the design phase up to the full-scale production stage.
