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CBR acquires Natera's newborn cord blood bank

Cord Blood Registry, part of the California Cryobank Inc., acquired assets of Natera Inc.'s cord blood and tissue banking business for an undisclosed amount.

"This divestiture will allow Natera to focus squarely on its core genetic testing business in reproductive health, oncology and organ transplantation," Natera CEO Steve Chapman said in a news release.

Natera's newborn stem cell business is called Evercord. Such storage systems collect stem cells from the cord blood and tissues of newborn babies for potential medical use in the future.

Convergence Healthcare Advisors LLC was the strategic adviser to Natera on the sale of the Evercord business.