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ThermoGenesis Announces Sale of Thermoline Product Line to Helmer Scientific

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ThermoGenesis Corp. (Nasdaq: KOOL), a leading supplier of enabling technologies for the processing, storage and administration of cell therapies, today said it has sold its ThermoLine plasma freezer and thawer product line to Helmer Scientific for an undisclosed sum of cash. ThermoGenesis received the payment during the quarter ended December 31, 2012.

"As was the case with our divestiture of the CryoSeal product line in mid-2012, this transaction is part of our long-term strategy to focus on our core business of developing enabling technologies for the stem cell regenerative medicine market," said Matthew Plavan, Chief Executive Officer of ThermoGenesis.

"The proceeds from this transaction will be used to fund market development programs for our cord blood and bone marrow stem cell processing and storage offerings. In addition, this divestiture will reduce some operating costs and free up internal resources that were previously used to provide customer support and service for ThermoLine customers," he added.

Posted-In: News Asset Sales

 

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