AWT Labels and Packaging ("AWT") announced today that it has closed on the acquisition of Citation Clinical Labeling Systems, a global leader in clinical labeling since 1963 and based in Hauppauge, NY. The business will be owned by AWT and management and operate under the name of Citation Healthcare Labels, LLC ("Citation" or the "Company").
Citation provides clinical trial labels for pharmaceutical and biotechnology companies, clinical research organizations, and clinical packagers. The Company was founded in 1963 by the family of Richard Bolnick, who will remain as President of Citation, as a diversified distributor of printing and labels. Citation's products serve mission critical applications by ensuring the accuracy and effectiveness of trials, improving participant safety and helping customers introduce drugs to the market more efficiently. The Company provides world-class product quality, project management, customer service, and speed to market, which are imperative characteristics for pharmaceutical customers.
This acquisition strengthens AWT's commitment to the global healthcare labeling market and will allow AWT to take advantage of growth opportunities in the clinical trial label markets. For Citation customers, they will now have access to AWT's resources and investments in state-of-the art print and production technologies as well as access to AWT's Minneapolis, MN facility for additional healthcare label capabilities.
Both Rich Bolnick, President of Citation, and Frederick Youngs, Chief Operating Officer of Citation, will continue in leadership roles with the Company and will become shareholders of AWT. The Company operates out of a single pharmaceutical and medical grade facility in Hauppauge, NY and employs approximately 100 employees. The employees and suppliers of Citation have played an integral role in the company's success and will continue to do so in the future.
"Citation looks forward to the next chapter of growth by joining the AWT organization. Citation and AWT share many of the same philosophies including providing our customers with a world-class experience, a commitment to healthcare labeling and quality systems, the development of our employees and continually investing in state-of-the-art equipment", said Rich Bolnick, President of Citation. "We believe the best is yet to come for our customers as they will benefit from additional facilities, personnel and resources of the combined businesses."
"We are excited about our acquisition of Citation. Rich Bolnick and Fred Youngs have spent many years building a great company with outstanding people and tremendous capabilities and we proudly welcome the Citation team to AWT," said Jim Lundquist, President and CEO of AWT. "We will leverage the unique capabilities of both organizations to continue to serve our customers with world class quality and excellent service. The addition of Citation meaningfully increases our healthcare labeling capabilities and allows AWT to become one of the largest healthcare-focused label providers for pharmaceutical clinical trial and medical device manufacturers in the U.S."