On November 13, 2015, AlphaCord released news that it was acquiring LifeSource Cryobank. The acquisition was AlphaCord’s fifth acquisition of smaller cord blood banks. Today, California Cryobank Stem Cell Services LLC, better known as “FamilyCord”, announced it has acquired Southern Cord Inc., a cord blood bank operating within the southeastern U.S.
Together, these recent mergers continue the trend of consolidation within the global cord blood banking market.
To learn more about the acquisition of Southern Cord by FamilyCord, read the full press release below.
California Cryobank Stem Cell Services Acquires Southern Cord
LOS ANGELES, April 5, 2016 /PRNewswire/ — California Cryobank Stem Cell Services LLC (dba “FamilyCord”), announced the recent acquisition of Southern Cord Inc., a cord blood bank primarily servicing the Southeastern region of the US. Southern Cord clients will maintain full access to their invaluable stem cells, and all prepaid contracts will be honored.
“Southern Cord was founded in 2010, primarily to educate the public on the importance of cord blood banking and provide affordable banking options for many growing families,” said Chakri Deverapalli, President and CEO. Southern Cord is the first cord blood bank based in Alabama with headquarters located in the HudsonAlpha Institute for Biotechnology in Huntsville.