Joshua Partners LLC Completes Acquisition of Medicia Corp

Business Wire, Nov 14, 2008

DAYTON, N.J. -- Joshua Partners LLC announces today they have completed the acquisition of Medicia Corp., now renamed Medicia Holdings LLC. Medicia is a leading full-service contract manufacturer of personal care products, over-the-counter (OTC) drug preparations and private label products, including full turnkey production. The company manufactures and fills a wide range of products including topical OTC, medical device products, cosmetics, skin care, hair care, health and beauty aid items, liquid soaps, as well as hydro-alcoholic products (fragrances). Medicia offers the most comprehensive, state-of-the-art flexible packaging production in the industry (sachets/packettes/towelettes), well suited to promoting new product launches as well as new revenue channels during economic downturns. Company facilities are fully FDA, OTC, and Medical Device compliant.

Medicia provides its customers, including 9 of the top 15 personal care companies in the world, in-house R&D capabilities that are unsurpassed in the contract manufacturing industry. Medicia has developed and launched over 167 new products for its customers in the last 18 months. "This is an exciting new chapter for Medicia as we team with Joshua Partners to build the finest manufacturing supply chain partner in the world for the personal care and OTC industries," said Dale Dvorak, CEO of Medicia. "With a newly stable, patient capital base to support growth well into the future, we stand ready to exceed our customers' supply chain needs, from R&D to direct shipping of product. We are excited to be our customers' premier manufacturing supply chain partner."

Charles Corpening, Chairman of both Joshua Partners and Medicia Holdings LLC, said "Medicia is a truly unique supply chain partner with its world-class R&D, flexible packaging, and full service offerings from fill to turnkey production and direct shipping, all under one roof. We are pleased to provide the capital base to scale those industry-leading supply chain capabilities to match our customers' needs, from the Fortune 100 to entrepreneurial brand customers. Combined with the nearly half century of cutting edge manufacturing experience of our new management team of Dale Dvorak and Rich Fredricksen, we are confident we will set new standards of excellence in our industry. We look forward to working proactively with our customers to creatively meet and exceed their manufacturing supply chain needs. We are pleased to partner with a solid franchise with such strong growth prospects."

As a result of the acquisition, Medicia Holdings LLC is now a Minority-controlled Business Enterprise (MBE), with official certification pending.

About Medicia Holdings LLC

Medicia is located in Dayton, New Jersey which is approximately 15 minutes east of Princeton. The company is strategically located relative to most major U.S. consumer product companies and distribution centers, and has close proximity to major East Coast cities. Medicia is FDA, Medical Device, and OTC compliant, contains a reverse Osmosis Water System (USP/28), and provides direct shipping and distribution to its customers. For more information visit our website at www.medicia.com.

About Joshua Partners LLC

Founded in 2007, Joshua Partners is focused on acquiring majority stakes in a select number of lower middle market companies, providing stable capital and top management expertise, and building them into industry leaders over the long term. For more information visit www.joshuapartners.com.