Cord Blood America Acquires CorCell

(Los Angeles, CA, USA) has acquired the umbilical cord-blood stem-cell preservation company CorCell, Inc. (Philadelphia, PA, USA).

Cord Blood America purchased the operating entity and assets of CorCell on October 13, 2006. In addition, the agreement gives Cord Blood America exclusive rights to make an additional purchase of the current approximately 12,000 customers of CorCell by March 31, 2007. Financial details were not disclosed for either transaction.

CorCell, established in 1995, collects umbilical cord blood stem cells from hospitals in all 50 states as well as internationally. The company has grown its primary business through strategic partnerships with health insurers throughout the United States. CorCell will retain its operating name.

"We have consistently said that accretive acquisitions are the most sensible way to grow in this soon-to-be U.S.$1 billion market,” said Matthew Schissler, CEO of Cord Blood America. "Cord Blood America is very pleased for its shareholders to have acquired this strong, successful private company. This acquisition is very important for our future.”

Cord Blood America is the parent company of CorCell, which facilitates cord-blood stem-cell preservation for expectant parents and their children. Its mission is to be the most respected stem-cell-preservation company in the industry. Collected through a safe and noninvasive process, cord blood stem cells offer a potentially life-saving resource for treating a growing number of ailments, including cancer, leukemia, and blood and immune disorders.



Related Links:
Cord Blood America
CorCell