Millstone Medical Outsourcing, an Arlington Capital Partners Portfolio Company, Acquires MycoScience

WASHINGTON–(BUSINESS WIRE)–Millstone Medical Outsourcing (“Millstone”), the industry’s leading partner of choice for medical manufacturers’ post-manufacturing and aftermarket services, announces its completed acquisition of MycoScience, on November 14, 2022.

Headquartered in Willington, Connecticut, MycoScience has over 30 years of expertise in medical device and pharmaceutical laboratory testing, environmental testing, and related regulatory support services. The company is an ISO 13485:2016 certified contract manufacturing organization operating out of an FDA-registered facility with a rigorous approach to quality that will uphold Millstone’s commitment to operating under the highest quality standards.

The addition of MycoScience to Millstone brings advanced laboratory and environmental testing services with longstanding industry and regulatory experience to Millstone’s capabilities. Post-acquisition, Millstone can complete these adjacent services for its customers in-house, with better controls around product testing. Being able to offer these services in-house will accelerate customer time to market and lessen lead times for in-process testing within production. The addition of MycoScience also enhances Millstone’s ability to offer comprehensive end-to-end services through its Tier 1 approach to expert sourcing and support.

Matt Altman, a Managing Partner at Arlington Capital Partners, said, “MycoScience is a highly strategic and complementary acquisition that provides Millstone with broader testing capabilities that can be leveraged across its customer set. We are excited by the growth opportunities this combination will create for Millstone and its customers.”

“With the acquisition of MycoScience, we can offer our customers more support and better controls around product testing, with a single expert point of contact,” Millstone Medical Outsourcing CEO Karl Neuberger said. “The more advanced and thorough post-manufacturing and aftermarket services we can offer our customers, the more we can support them in creating and accelerating products that change patients’ lives. This acquisition brings together two companies aligned on commitment to quality, expertise, and outstanding customer service.”

MycoScience’s leadership team will remain at the helm. MycoScience CEO Sarath Koruprolu noted, “Over the last 30 years, MycoScience has helped our customers bring amazing new devices and medicines to market for better patient outcomes. Now, as we begin a new chapter with Millstone, we look forward to continuing to apply our expertise to product testing, quality, and advancements as a part of the industry partner of choice.”

Gordon Auduong, a Principal at Arlington Capital Partners, added, “MycoScience’s testing capabilities are a natural extension to Millstone’s current post-manufacturing and distribution & logistics services that will allow Millstone to provide further value to its customers. We are excited to partner with the MycoScience management team and continue their impressive growth as part of the Millstone platform.”

About Millstone Medical Outsourcing

Millstone Medical Outsourcing is a leading provider of customized outsourcing solutions to the medical device industry with a client roster of the most prominent global OEMs as well as emerging growth companies. Millstone delivers superior quality service, unparalleled expertise, and guaranteed ROI. The company offers advanced inspection, sterile and non-sterile packaging, loaner kit processing, and distribution services to device and product manufacturers worldwide. Millstone is privately held and operates state-of-the-art facilities in Fall River, MA, and Olive Branch, MS. The company is FDA registered and ISO certified by BSI, Inc. to ISO 13485: 2016.

For more information: www.millstonemedical.com

About Arlington Capital Partners

Arlington Capital Partners is a Washington, DC-based private equity firm that has managed approximately $7 billion in capital commitments. Arlington is focused on middle market investment opportunities in growth industries including healthcare, government services and technology, aerospace & defense, and business services and software. The firm’s professionals and network have a unique combination of operating and private equity experience that enable Arlington to be a value-added investor. Arlington invests in companies in partnership with high quality management teams that are motivated to establish and/or advance their company’s position as leading competitors in their field.

For more information: www.arlingtoncap.com

Contacts

Matt Altman & Gordon Auduong

Arlington Capital Partners

5425 Wisconsin Avenue, Suite 200

Chevy Chase, MD 20815

(202) 337-7500