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BioTime Appoints Stephen C. Farrell To Board Of Directors

Stocks in this article: BTX

BioTime, Inc. (NYSE MKT: BTX) today announced that Stephen C. Farrell has been appointed to its Board of Directors.

“We are pleased to welcome an experienced executive of Steve’s caliber to BioTime’s board,” said Alfred D. Kingsley, Chairman of the Board of BioTime. “Steve adds critical and highly relevant experience as a successful leader and director of healthcare companies during periods of rapid growth. His operational and financial experience and his strategic vision will be valuable additions to our board during an exciting period of growth for BioTime.”

“BioTime’s development and progress toward the acquisition of novel technologies in the stem cell space over the past year, along with its recent successful financings, have further established it as a leader in regenerative medicine,” said Mr. Farrell. “I am honored to join the BioTime Board of Directors during such an important time in the Company's growth, and look forward to contributing to the development of these new technologies, which have the potential to significantly improve the health and quality of life of patients around the world.”

Mr. Farrell currently serves as Chief Executive Officer and Director of Convey Health Solutions (formerly known as NationsHealth, Inc.), a healthcare business process outsourcing company headquartered in Sunrise, Florida. Convey Health Solutions utilizes both technology and staff to manage end-to-end insurance processes for business clients. Previously, he served as President of PolyMedica Corporation, a publicly traded provider of diabetes supplies and related services that was acquired in 2007 by Medco Health Solutions in a transaction valued at $1.5 billion. During his eight year tenure at PolyMedica, Mr. Farrell served as its President, Chief Operating Officer, Chief Financial Officer, Chief Compliance Officer, and Treasurer. Mr. Farrell also served as Executive Vice President and Chief Financial Officer of Stream Global Services, Inc., a business process outsourcing company. Earlier in his career, Mr. Farrell served as Senior Manager at PricewaterhouseCoopers LLP. Mr. Farrell holds an A.B. from Harvard University, and an M.B.A. from the Darden School at the University of Virginia. Mr. Farrell currently serves on the board and is chairman of the Audit Committee of Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR), a biopharmaceutical company focused on the treatment of patients with serious, difficult-to-treat autoimmune and inflammatory disorders.

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