BioSurplus Appoints New CFO

Kathy Scott of RA Capital Advisors Assumes the Newly Formed Position of Chief Financial Officer at BioSurplus as the Company Positions for Further Growth

Jun 23, 2010, 12:34 ET from BioSurplus, Inc.

SAN DIEGO, June 23 /PRNewswire/ -- BioSurplus, Inc., the life science industry's leading supplier of equipment management services and pre-owned laboratory instruments, today announced Kathy Scott has been named chief financial officer. She will report to the company's chief executive officer, Preston "Cinco" Plumb.  For the past 15 years, Ms. Scott served as a partner with RA Capital Advisors, a private investment bank, where she completed financial transactions totaling billions of dollars of mergers and acquisitions, divestitures, private equity and debt financing and restructurings for a broad range of corporate clients.

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During her tenure at RA Capital Advisors, Ms. Scott managed highly complex transactions, including the acquisition of The Titan Corporation by L-3 Communications and acted as financial advisor to Enron Corporation, post-bankruptcy. She consummated transactions in various industries including life sciences, energy, aerospace and defense, manufacturing, and retail. In addition to leading transactions, she was also the CFO and chief compliance officer at RA Capital Advisors, and for a period of time served as the CFO of RA Capital client FeRx, Inc.

Ms. Scott started her career as an auditor in the San Diego office of Arthur Andersen where she focused on both public and private clients. A CPA and CFA charter holder, Ms. Scott graduated magna cum laude from UCLA with a B.A. in economics/business and was named to membership in Phi Beta Kappa. Ms. Scott is a vice chair on the board of directors of the YMCA of San Diego County.

"Over the past two years we have experienced significant growth," says Preston "Cinco" Plumb, CEO of BioSurplus. "We needed a very senior person to help execute our business plan.  Kathy's background is uniquely suited to our growth strategy.  She successfully secured private equity and debt financings and managed the complexities of mergers and acquisitions for numerous companies.  All these experiences, coupled with her strong operations capabilities made Kathy the perfect fit for our growing team."

Since 2002, BioSurplus has been pioneering leading edge solutions for every stage of the equipment lifecycle.  From providing a website of dynamic inventory, to developing software solutions for clients to track and manage their own equipment, to offering turnkey customizable solutions for selling surplus assets, BioSurplus is dedicated to maximizing the value and use of laboratory equipment for its customers.

BioSurplus provides deep in-lab experience to assist its customers in the buying, selling and managing of equipment assets.  All of the Company's senior sales and operations personnel have degrees in science or direct work experience in the lab or equivalent.

BioSurplus is headquartered in San Diego, with an additional showroom facility located in the Bay Area, CA.  BioSurplus offers services nationally and internationally and sells equipment worldwide. For more information see the corporate website at www.BioSurplus.com

Contact: Jackie Townsend, 1-858-997-0580

SOURCE BioSurplus, Inc.