Patrick D. Walsh has been named chief executive officer of AAIPharma Services. Mr. Walsh, who has nearly 30 years of pharmaceutical manufacturing experience, will focus on advancing AAIPharma’s next phase of strategic growth following its establishment as a standalone company.

Mr. Walsh has served in executive roles at multiple pharmaceutical companies, including as president and chief executive officer of Kadmus Pharmaceuticals, Inc., and president and chief operating officer of Gensia Sicor. He also served as chief executive officer of a specialty diagnostic company, and led the U.S. and international business groups for Fujisawa USA. Most recently, Mr. Walsh founded a management consulting firm that assisted companies with achieving key corporate objectives in the pharmaceutical, contract manufacturing and biotechnology industries.

“Pat has an impressive record of consistently leading pharmaceutical businesses to achieve high levels of growth over the course of his career. He is the ideal executive to advance AAIPharma Services forward, as we focus on pursuing growth opportunities through a combination of organic initiatives and strategic acquisitions. Pat’s core skills of business development, relationship-building, and sales and marketing will contribute significantly to AAIPharma and our goal of building it into the leading provider of pharmaceutical development services,” said Pete Strothman, a principal with Water Street and a member of AAIPharma Services’ board of directors. Water Street, a strategic private equity firm focused exclusively on health care that acquired AAIPharma Services in a divestiture transaction from its parent company in 2009, recruited Mr. Walsh to the position.

L. Lee Karras, who led AAIPharma Services through its transition to an independent company, will continue in his role as president and will also assume the responsibility of chief operating officer. He will work closely with Mr. Walsh to implement the company’s strategic growth plan.