Third Wave appoints new chairman

Madison, Wis., - Third Wave Technologies Inc., a developer and provider of molecular diagnostics applications, has elected David A. Thompson chairman of the company's board of directors, replacing company founder Lance Fors, who stepped down as part of the business's planned transition.

Thompson, 63, was the senior vice president and president of the diagnostic division of Abbott Laboratories, an Illinois-based medical products company. He also serves as a director of St. Jude Medical Inc., the global medical device company.

Fors, who co-founded Third Wave in 1993, remains a technology adviser to the company.

"The company for three years has been transitioning from a research tools company to a molecular diagnostics company," explained company spokesman Rod Hise. "And as part of that transition there have been transitions on the management team and at the board as the company has become more commercially focused."

Hise added that Thompson's experience in the diagnostics industry with Abbott would be useful in helping Third Wave move towards being more commercially focused. The company also announced that James P. Connelly, a partner in the Foley & Lardner law firm, has joined its board of directors. Connelly 58, served as founding chair of Foley & Lardner's health law practice. He also has served as general counsel to the American Medical Group Association and as special counsel to the American Medical Association and major multi-specialty clinics across the country.

Read more about Third Wave's corporate transition and current financial status.