Highly Complementary Combination Creates the Leading Provider of Stem Cell Storage and Reproductive Tissue Services Across Three Attractive, Highly Resilient End-markets
| SAN FRANCISCO, June 15, 2018 /PRNewswire/ -- GI Partners, a private equity investment firm, announced today that it will acquire California Cryobank (CCB), the world’s premier donor sperm and egg bank, and Cord Blood Registry (CBR), the world’s largest stem cell collection and storage company, and simultaneously combine the two businesses. Upon completion of the transaction, the combined entity will create the leading player in the stem cell storage and reproductive tissue services markets. The combined transaction is expected to close in the third quarter of 2018, subject to customary closing conditions and regulatory approvals. The two best-in-class companies will join to serve nearly 600,000 families across more than 30 countries. The organization’s full family-focused suite will include cord blood and cord tissue collection and storage, frozen donor sperm and frozen donor egg services, and fertility preservation storage services. “We are excited to partner with GI Partners in pursuing significant growth and expansion opportunities that lie ahead for our combined company,” said Richard Jennings, CEO of CCB, who will continue on as CEO of the combined business. “As a combined entity with GI Partners’ support, we are well positioned to continue our mission of helping grow and protect healthy families around the world.” Dave Kreter, Managing Director at GI Partners said, “We have been following the growing and dynamic reproductive and stem cell space for several years and were attracted to these two companies by their robust customer and market characteristics. Their combination represents a unique opportunity to create a new platform better positioned to further expand their industry leading capabilities. We are excited to collaborate with management to extend the combined company’s capabilities internationally and make critical investments to support its next phase of growth.” Howard Park, Managing Director at GI Partners said, “CBR and CCB are market leaders with significant brand recognition in their respective end markets. The combination of these two exceptional companies will create a natural one-stop shop for meeting customers’ reproductive and stem cell storage needs. The outstanding leadership team and medical professionals are devoted to the patients they serve and to the scientific excellence they demonstrate. We look forward to working with Richard and his talented team to further accelerate the growth of the combined business.” The combined company represents the fifth platform investment in GI Partners Fund V, a $2.8 billion private equity fund raised in 2017. About California Cryobank About Cord Blood Registry About GI Partners
Media Contacts: --------------- Chris Tofalli Caroline Schimmelbusch Chris Tofalli Public Relations LLC GI Partners Investor Relations 914-834-4334 415-688-4800 chris@tofallipr.com caroline@gipartners.com
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