more than profit.
Medolac is a company driven by social impact
With an unmet global need, Medolac has developed a platform to serve the world.
Medolac is a Public Benefit company, committed to the development of life-changing human milk based nutritional and therapeutic products. The first commercially sterile human donor milk was developed by Medolac and is currently being used by hospital Neonatal Intensive Care Units (NICUs) across the United States.
The company specializes in innovative, human donor milk products for clinical use (in the NICU), applying proprietary biopharmaceutical processing methods that preserve many of the immune components in human milk. As a public benefit company dedicated to social impact, Medolac Laboratories is a Delaware registered corporation. Medolac's status as a Public Benefit Corporation was approved unanimously by its shareholders and ushers in a new era of social impact advocacy and investment in human milk banking. This new form of corporation allows Medolac Laboratories and its board to consider the balanced interests of a broad set of stakeholders affected by its business.
Medolac's social purposes are to dramatically enhance access to safe, high quality human donor milk and adapted human milk nutrition, particularly in clinical and post discharge settings, and to provide economic and social empowerment to human milk donors through cooperative membership with their milk bank. As a public benefit corporation, Medolac's corporate charter has expanded to encompass these social benefits. Medolac's existing Corporate Responsibility and Commitment to Responsible Practices statement also gains stature as it will be audited biennially as part of its commitment to publicly report on its overall impact on these and other commitments. Public Benefit Corporation status is not only good for Medolac Laboratories but also for its stakeholders, including premature infants and mothers who benefit from membership in the Mothers Milk Cooperative, the first and only mother's milk bank cooperative owned and controlled by its members.
Medolac's public benefit status will enable some unique benefits for all stakeholders including: Protection of its Corporate Purpose – As a public benefit corporation, Medolac and its board are required to balance the financial interests of shareholders with the best interests of those materially affected by the corporations conduct, including the Mothers Milk Cooperative Milk Bank and the preterm infant population Medolac serves, even at the time of a potential sale or acquisition. Transparency and Accountability – Medolac will report to shareholders and make a report publicly available biennially about the company's overall impact on its stated social impact goals and purposes.
How the Mothers Milk Cooperative & Medolac Partnership Works
The Mothers Milk Cooperative Milk Bank and Medolac formed the first cooperative producer/processor partnership of its kind in human milk banking and are mutually dedicated to make available the safest and highest quality human donor milk. Responding to the global shortage of donor milk, and with the assistance of a USDA cooperative development grant, the Mothers Milk Cooperative was launched on Mother's Day of 2013. In addition to addressing the shortage of donor milk, this unique partnership provides economic empowerment to cooperative members by giving them the option to be fairly compensated for their contribution and making it possible for many mothers to continue nursing their own babies longer. Breast milk donor candidates are extensively pre-screened; blood is drawn by LabCorp facilities throughout the country and tested by the American Red Cross National Testing Laboratories. Medolac's commercially sterile donor milk is shelf stable at room temperature and purchased by hospitals who stock it for use with premature infants. About Public Benefit Corporations: Public Benefit Corporations are a new class of corporation that: Creates a material positive impact on society and the environmentExpands fiduciary duty to require consideration of non-financial interests when making decisionsReports on its overall social and environmental performance using recognized third party audits and/or standards For more information on Public Benefit Corporations, visit www.benefitcorp.net.