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.
California Cryobank has been a leading cellular therapies company since 1977. Its subsidiary, FamilyCord, has been a global leader in cord blood and tissue services for more than 18 years. The company has an “A+” rating with the Better Business Bureau and is operated by 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.
“People are more aware every day of the clinical benefits of cord blood and tissue stem cells,” explains California Cryobank Co-President Richard Jennings. “We are very pleased to continue providing high-quality cryogenic service to the Southern Cord families for years to come.”
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.
“We are honored to join the California Cryobank family,” added Deverapalli. “Joining a world leader in cryo banking services, will allow us to provide our innovative products to a broader set of customers in the markets Southern Cord serves.”
Media Contact: Scott Brown (310) 496-5681
FamilyCord is registered with the FDA and accredited by the AABB. For information, call 888-828-2673 or visit www.familycord.com.
SOURCE: California Cryobank
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To learn more, view the “Complete 2015-16 Global Cord Blood Banking Industry Report.”