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Cord Blood America acquires CorCell
13 October 2006
Cord Blood America (Nasdaq: CBAI), the company which owns the family cord blood bank Cord Partners, has acquired CorCell, a Philadelphia company which has been marketing family cord blood storage since 1996.
In July 2004, CorCell had merged with the German cord blood bank VITA34, under a German holding company VITA34 International AG. In February 2005, CorCell substantially raised prices when they began using the patent-pending sterile collection method developed by VITA34.
Now, the acquisition by Cord Blood America severs the relationship between CorCell and VITA34. The terms of the acquisition give Cord Blood America immediate ownership of the operating entity and assets of CorCell, plus exclusive rights to purchase their inventory of approximately 12,000 cord blood collections by 31 March 2007. CorCell will retain its operating name.
This is the second time Cord Blood America acquired a rival. In January 2006, they bought out Cryobank for Oncologic and Reproductive Donors (CORD) of Middletown, NY. That purchase transfered an inventory of 750 cord blood collections.
The purchase will not cause any disruption for customers. Both CorCell and Cord Partners both use the processing laboratory of Community Blood Services in Paramus, NJ.
In July 2004, CorCell had merged with the German cord blood bank VITA34, under a German holding company VITA34 International AG. In February 2005, CorCell substantially raised prices when they began using the patent-pending sterile collection method developed by VITA34.
Now, the acquisition by Cord Blood America severs the relationship between CorCell and VITA34. The terms of the acquisition give Cord Blood America immediate ownership of the operating entity and assets of CorCell, plus exclusive rights to purchase their inventory of approximately 12,000 cord blood collections by 31 March 2007. CorCell will retain its operating name.
This is the second time Cord Blood America acquired a rival. In January 2006, they bought out Cryobank for Oncologic and Reproductive Donors (CORD) of Middletown, NY. That purchase transfered an inventory of 750 cord blood collections.
The purchase will not cause any disruption for customers. Both CorCell and Cord Partners both use the processing laboratory of Community Blood Services in Paramus, NJ.
Last modified: 21.January 2010
Copyright 2000 - 2010 Frances Verter
Copyright 2000 - 2010 Frances Verter