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California Cryobank signs definitive agreement for GI Partners.

LOS ANGELES: California Cryobank signed a definitive agreement for GI Partners, a private equity investment firm, to acquire the company from leading healthcare investors Longitude Capital and NovaQuest Capital.

California Cryobank is the world's leading donor sperm and donor egg bank. In a separate transaction announced today, GI Partners has also entered into a definitive agreement with AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) to acquire Cord Blood Registry (CBR), the world's largest stem cell collection and storage company. Following the close of both transactions, California Cryobank and CBR will join together in a newly combined entity that will operate under the California Cryobank Life Sciences platform, bringing together best-in-class organizations to provide enhanced domestic and international expansion opportunities in both the donor reproductive tissue and newborn stem cell industries.

Managing Director at GI Partners Dave Kreter said, "We have been following the growing and dynamic reproductive and stem cell space for several years and were attracted to these two companies by their robust customer and market characteristics. Their combination represents a unique opportunity to create a new platform better positioned to further expand their industry leading capabilities. We are excited to collaborate with management to extend the combined company's capabilities internationally and make critical investments to support its next phase of growth."

Recognized as the world's premier donor sperm and egg bank, California Cryobank has been an industry leader and innovator since 1977. Together, the donor sperm and donor egg banks have helped over 75,000 families.

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Publication:Daily the Pak Banker (Lahore, Pakistan)
Date:Jun 28, 2018
Words:246
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