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Cryo-Cell closes acquisition of cord blood bank company

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Cryo-Cell closes acquisition of cord blood bank company

Cryo-Cell International Inc. closed the acquisition of all the assets of Cord:Use Cord Blood Bank Inc. in a deal worth $14 million.

Orlando, Fla.-based Cord:Use is an operator of public and family cord blood banks.

The transaction includes payments of up to $200 million in potential cash earnouts related to the CORD:USE public cord blood inventory and additional stock earnouts based upon Cryo-Cell achieving certain milestones associated with the purchased assets.

Cryo-Cell said it does not expect that the full earnout related to the public cord blood inventory will be earned.

Florida-based Cryo-Cell engages in cellular processing and cryogenic cellular storage with a focus on the collection and preservation of umbilical cord blood stem cells for family use.