FamiCord announced that it is acquiring Stemlab, positioning it to control the largest cord blood bank in Portugal. To execute the transaction, Polski Bank Komórek Macierzystych S.A. (better known as the Polish Stem Cell Bank or PBKM), a leading company of the global Famicord Group, is acquiring a controlling interest in Stemlab. It will be acquiring 95.6% of the company stock for a purchase price of $16.5M.
PBKM (FamiCord) Aquisition of StemLab (Portugal)
Revealing important details about this cord blood industry transaction, BiznesPolska reported that:
“Polski Bank Komórek Macierzystych S.A. [Polish Stem Cell Bank] – (PBKM), a leading company of the international Famicord Group that manages stem cells banks located in Europe and in Turkey, signed an agreement for the acquisition of a majority stake of a Portuguese company Stemlab which is the largest bank of stem cells on the Iberian Peninsula and one of the largest in Europe.
Stemlab carries out its business operations in Portugal (a market leader with an over 60% market share in the stem cell banking, jointly in B2B and B2C sectors), Spain, Switzerland and, through business partners, in Italy. As at the end of 2017, Stemlab stored a total of around 98 thousand umbilical cord blood samples or tissues and about 120 thousand of all types of biological materials. In accordance with the company’s estimates, Stemlab’s share in the sourcing of new umbilical cord blood samples on the European market is around 7%, including both B2C and B2B channels.”
European Cord Blood Industry Consolidation
After a rapid growth period through the mid-2000s, the global cord blood banking market reached saturation and stabilized through approximately 2012. Since that time, the market has been aggressively consolidating, both in Europe and worldwide.
To date, FamiCord Group has completed more than a dozen merger and acquisition deals within the European market. Vita34 and Esperite (CryoSave Group) have each completed 5-10 each acquisition deals. StemLab itself has also did at least three M&A deals prior to being acquired by PBKM (FamiCord Group).
As a result of this flurry of M&A activity, most of the cord blood industry growth in Europe is now inorganic. The number of cord blood banks in Europe has dropped by approximately one-third over the past ten years, from approximately 150 to 100.
The industry leaders in the European cord blood market include the three companies that have been executing consistent M&A activity, FamiCord Group, Vita34, and Esperite (CryoSave Group), respectively.
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