ThermoGenesis Announces Management Transition; Provides Update on Operational ...( RANCHO CORDOVA Calif. Dec. 3 /- Therm...),Health

RANCHO CORDOVA, Calif., Dec. 3 /PRNewswire-FirstCall/ -- ThermoGenesis Corp. (Nasdaq: KOOL), a leading supplier of innovative products and services that process and store adult stem cells, said today that William Osgood, Ph.D. has reached an agreement with the Company's Board of Directors to resign as the Chief Executive Officer and a director of the Company, effective immediately. The board has named Matthew T. Plavan, the Company's Executive Vice President and Chief Financial Officer, as ThermoGenesis' interim Chief Executive Officer.

"In his nearly four years at the Company, Matt has been intimately involved in the daily operations of the Company, including our recent business development efforts with General Electric Healthcare and others, and engendered a high level of respect among the other members of senior management and our employees," noted Hubert Huckel, M.D., the Company's Chairman of the Board. "The board has a high degree of confidence in Matt's ability to lead the Company while we conduct a search for a new Chief Executive Officer," he added.

Huckel continued, "Over the past 18 months, Bill has made many contributions to the Company and assisted in our review of potential future market opportunities in the area of regenerative medicine. However, both he and the board determined that new leadership was necessary to ensure that the Company makes the progress necessary to focus on quality and customer service, and to meet our revenue and profitability targets."

Plavan joined ThermoGenesis in May 2005 as Chief Financial Officer and was named Executive Vice President earlier this year. Prior to joining the Company, he held senior financial and operations management positions at several healthcare and technology companies, including McKesson, and was an audit manager with Ernst & Young LLP.
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