Business News

Booth Joins PrePak Systems for Growth, Expansion

Monday 12. May 2008 - Tim Booth, a 20-year health care veteran, has been named the new President and CEO of PrePak Systems Inc., a turnkey pharmaceutical packaging company based in Cookeville, Tenn.

The announcement was made last week by the company’s parent, PrePak Holdings, which is preparing the five-year-old business for more growth and expansion with financial support from its largest shareholders, Enhanced Equity Fund, LP and Reliant Star Capital, Inc.

“This is an exciting development for our employees and our shareholders,” commented retiring President/CEO Bob Allen, who will now serve as board chairman of PrePak Holdings. “Tim brings a wealth of experience in the health care packaging arena to our team, and he provides a unique set of management skills to take PrePak to the next level.”

Booth previously served as the President of RxPak, a division of McKesson, where he managed a packaging operation that grew into a billion-dollar enterprise during his seven-year term. His background in banking and finance enabled him to oversee the operational development and diversification at RxPak.

“I think there’s a tremendous opportunity for growth at PrePak,” Booth commented. “In addition to a quality management team and a strong work ethic, there is a true entrepreneurial approach ingrained in this organization that will continue to foster successful results for PrePak’s clients and shareholders.”

In addition to overall operations, Booth will be responsible for growing PrePak’s existing business while also setting up a corporate structure that will foster more expansion and acquisitions. In just five years, the company has grown from 10 to almost 150 employees, as well as expanding facilities from 10,000 square feet to more than 75,000. New capital expenditures and additional space are in development to expand the company’s capabilities and facilities even further.