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NorthStar Medical Technologies, LLC, a global innovator in the development, production and commercialization of diagnostic and therapeutic radiopharmaceuticals, today announced the appointment of Frank Scholz, Ph.D., as Senior Vice President and Chief Operating Officer. In this new position, he brings more than 20 years of relevant operational experience in the pharmaceutical and life sciences industries to the Company. Dr. Scholz will report to President and Chief Executive Officer Stephen Merrick.

“Frank’s strong leadership and operations experience in the Pharmaceutical and Medical Devices industry optimally position him to help lead the next phase of NorthStar’s growth and success,” said Stephen Merrick, President and Chief Executive Officer of NorthStar. “As a key member of our executive leadership team, he will hold oversight of NorthStar’s Strategic Execution, Regulatory Affairs, Engineering & Technology, Manufacturing Operations & Supply Chain, and Advanced Radioisotope & Therapeutic Technologies teams. Frank will be instrumental in further expanding NorthStar’s Mo-99 production capacity, developing our next generation of technetium-99m (Tc-99m) generators and advancing a game-changing portfolio of new products, including therapeutic radioisotopes copper-67, actinium-225 and SPECT imaging agent, FibroScint.”

“I’m excited to join NorthStar in its mission to develop and commercialize novel radiopharmaceuticals, and to introduce innovative technologies that can significantly benefit U.S. and global healthcare,” said Dr. Scholz. “NorthStar has a highly capable team and I look forward to working with them across the Company’s impressive range of transformational projects. Together we can ensure that we meet the needs of healthcare systems and the many millions of patients who can benefit from NorthStar’s products.”

“We welcome Dr. Frank Scholz to NorthStar, and we look forward to drawing upon his strategic, operational and broad general business expertise as the Company continues to grow,” said Diane Hendricks, Chairperson of the Board of NorthStar. “NorthStar is an outstanding success model in the Hendricks Holding Company’s portfolio, having rapidly transformed from a development-stage company into an organization on a clear path to global leadership in radiopharmaceutical development and production. NorthStar’s commercialized, U.S.-based radioisotope production is helping to meet patients’ needs for important diagnostic imaging radiopharmaceuticals nationwide, and continues to expand. With a portfolio encompassing promising therapeutic radioisotopes, specialty SPECT imaging agents, and collaborative research for the use of therapeutic radiopharmaceuticals to treat COVID-19 and other acute respiratory diseases, NorthStar is strongly positioned for continued rapid growth. We look forward to Frank’s contributions as the Company continues to expand its global leadership across the radiopharmaceutical industry.”

Prior to joining NorthStar, Dr. Scholz was a Managing Director at AlixPartners, where he was a global leader of the Healthcare and Life Sciences practice. During his tenure, he was responsible for leading teams focused on improving the performance of clients in the pharmaceutical, medical devices and provider industries, as well as for building a leading global practice in the healthcare and life sciences sector. Prior to AlixPartners, he spent more than 6 years with Mallinckrodt Pharmaceuticals, where he held senior operational positions of increasing responsibility. During his tenure at Mallinckrodt, he held responsibility for the Generics business unit, Strategic Alliances, Digital Innovation and Information Technology, Merger Integration, Supply Chain Operations and Procurement, Global Quality & EHS and a stand-alone CDMO (BioVectra). Prior to Mallinckrodt, Dr. Scholz was a partner at McKinsey and Company, where he for 16 years served clients globally in the pharmaceutical, medical devices and industrial high tech industries, among others. He holds a Ph.D. in Business Management from the University of Bielefeld, Germany, an MBA from the Georgetown University McDonough School of Business in Washington D.C., and a Master’s in Economics from the Leibniz University of Hannover, Germany.