Cryo-Cell International Inc. is acquiring all the assets of Cord:Use Cord Blood Bank Inc. in a $14 million deal.
Orlando, Fla.-based Cord:Use is an operator of public and family cord blood banks.
Cryo-Cell is paying Cord:Use $10.5 million in cash and issuing 470,430 of its common shares, with additional consideration subject to earnouts.
Cryo-Cell Chairman and co-CEO David Portnoy said the deal is expected to increase the company's revenues by about 20% and will be materially accretive to its 2019 earnings per share.
