BELOIT, Wis.--(BUSINESS WIRE)--NorthStar Medical Technologies, LLC, a global innovator in the development, production and commercialization of radiopharmaceuticals used for therapeutic applications and medical imaging, today announced the appointment of Frank Scholz, Ph.D., as its new President and Chief Executive Officer (CEO) effective Monday, June 26, 2023. Dr. Scholz joined NorthStar in 2021, and was promoted to President and Chief Operating Officer (COO) in 2022. Mr. Stephen Merrick, who joined NorthStar in 2016 and has been CEO since 2018, will assume the role of Executive Chairman. The changes reflect NorthStar’s long-term strategy for continued growth and corporate development.

“I am excited and honored to assume the role of CEO at NorthStar and to drive a new phase of growth and patient service for our Company,” said Dr. Scholz. “NorthStar’s industry-leading reputation is grounded in technological innovation, successful execution and proven expertise. Our fast-growing portfolio encompasses promising therapeutic radioisotopes, specialty SPECT imaging agents and collaborative research for the use of therapeutic radiopharmaceuticals to treat a range of potential disease states. NorthStar’s commercialized, U.S.-based radioisotope production is already helping to meet a vital need for patients, and the Company is strongly positioned for sustained rapid growth as we pioneer new horizons to help meet patients’ healthcare needs with game-changing radiopharmaceuticals.”

Dr. Scholz continued, “On behalf of the entire Company, we want to express our sincere appreciation to Steve Merrick, who, in his seven years of commitment and strategic leadership, has advanced NorthStar’s innovation and radiopharmaceutical expertise to the forefront of nuclear medicine. In collaboration with our highly motivated team, we look forward to continuing to expand the horizons of patient health by providing innovative solutions to ensure robust, reliable access to radioisotopes and radiopharmaceutical products for people around the world. I look forward to continuing to work closely with Steve in his new role, the NorthStar Board and the entire NorthStar team to make a positive difference in lives of patients and their families.”
“I am pleased that we have been able to organize a smooth succession and look forward to continuing to support the Company’s efforts in my new role of Executive Chairman,” said Stephen Merrick. “It has been exceptionally rewarding to have served as CEO for the past five years, and I am proud to have led the organization during a transformative period of growth and development. When I first joined NorthStar in 2016, it was a single product company with 50 people, but we had the vision to rapidly transform from a development-stage organization into one on a clear path to being a recognized leader in nuclear medicine, with multiple products and services, and now more than 350 employees. I greatly look forward to continuing to work with Frank in his new role as CEO. He is extremely well-qualified to lead NorthStar, having already managed a large part of the company in his role as President and COO, and having extensive expertise in leading commercial-stage companies producing medically critical products. We congratulate him on this appointment and look forward to continuing to draw upon his strategic, operational and broad general business expertise as NorthStar increases its global leadership throughout the radiopharmaceutical industry.”

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