Today, AlphaCord released the major news that it is acquiring LifeSource Cryobank. This merger continues the trend of consolidation within the global cord blood banking market. It also continues AlphaCord’s trend of consolidation, as this was its fifth acquisition of smaller cord blood banks.
Earlier this year, on June 29, 2015, the largest cord blood bank in the United States and the world, Cord Blood Registry® (CBR®) announced that it had entered into a definitive agreement to be acquired by AMAG Pharmaceuticals, a company based out of Based in Waltham, Massachusetts. The value of the deal was set at $700 million, which established value of over 5.55 times revenue and over 15.55 times EBITDA.
To learn more about the acquisition, read the full press release from AlphaCord below, printed with permission from Hal Rogness, Vice-President of AlphaCord, LLC.
AlphaCord Announces Acquisition of LifeSource Cryobank
ATLANTA, Nov. 13, 2015 /PRNewswire-iReach/ – AlphaCord, LLC recently completed the acquisition of LifeSource Cryobank, LLC, a southeastern cord blood and adult stem cell bank servicing Louisiana and Mississippi. All LifeSource clients were notified and approved the transfer to AlphaCord’s storage facility in Altamonte Springs, FL.
Since 2007, LifeSource has provided very personalized service to the local New Orleans metro community, privately storing stem cells from both newborn umbilical cord blood and adults. “LifeSource’s high laboratory standards and excellent customer relations made for great match”, says Hal Rogness, Vice-President of AlphaCord, LLC. “We worked for many weeks to contact and receive approval from each client for the transfer of custody of their stem cell asset. We worked diligently with the LifeSource team to develop and implement a foolproof plan for the administrative and physical transfer. It was a resounding success, and we look forward to providing high-quality stem cell preservation service to the LifeSource families for years to come.“
“With seemingly continual reports of clinical and scientific advances being made, we are pleased to be in this industry providing security and sometimes lifesaving therapy to families”, explains Rogness. “We believe the option of privately preserving stem cells should be open to as many families as possible, and that is why we are the value provider in the marketplace. With the lowest available price and a 100% record of successful transplants, we are achieving that value position with the highest quality possible.”
AlphaCord, has been a growing newborn stem cell preservation company since its inception in 2002.
This is its fifth acquisition of smaller cord blood banks. For information, call 866-396-7283 or visit www.alphacord.com
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