California Cryobank Stem Cell Services LLC Acquires Cord Blood America Inc.
Published: May 15, 2018
LOS ANGELES, May 15, 2018 /PRNewswire/ -- California Cryobank Stem Cell Services LLC ("FamilyCord"), announced the recent asset acquisition of Cord Blood America, Inc. ("CBAI"), uniting two of the industry's most respected stem cell companies. FamilyCord will maintain the long-term cryogenic storage of the stem cell units in its state-of-the-art biorepository.
"People are more aware every day of the clinical benefits of cord blood and tissue stem cells," explains California Cryobank CEO Richard Jennings. "We are very pleased to continue providing high-quality stem cell services to the Cord Blood America families for years to come."
Founded in 1997, FamilyCord is one of the fastest growing cord blood and cord tissue companies in the United States, with nearly 100,000 units in storage. Collected through a safe and non-invasive process, cord blood and cord tissue stem cells offer a powerful and potentially life-saving resource for treating a growing number of ailments, including cancer, leukemia, blood, and immune disorders.
Recognized around the globe as the world's #1 donor sperm and egg bank, California Cryobank has been a leading Life Sciences company since 1977. Its subsidiary, FamilyCord, has been an industry leader and innovator in cord blood and tissue services for more than 20 years. The company has an "A+" rating with the Better Business Bureau and is operated by a medical board of nationally renowned physicians, including a stem cell transplant physician. California Cryobank and FamilyCord have extensive experience in clinical laboratory management, cord blood banking and frozen tissue storage.
FamilyCord's specially engineered cord blood and cord tissue collection kit is OSHA compliant and offers multiple benefits over traditional kits, including built-in temperature stabilization and a reinforced liner providing more than 4 times the standard crush protection.
"As more and more families continue to take advantage of stem cell banking, it is imperative that we as an industry do everything we can to insure that investment is protected," says Jennings.
FamilyCord is a subsidiary of the California Cryobank, the world leader in frozen donor sperm and egg services, as well as fertility preservation. FamilyCord is registered with the FDA and accredited by the AABB. California Cryobank and its affiliates are portfolio companies of two healthcare-focused private investment firms, Longitude Capital and NovaQuest Capital Management.
Media Contact: Scott Brown (310) 496-5681
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SOURCE California Cryobank