OLDSMAR Cryo-Cell International, the local company that was the first private cord bank to separate and store stem cells, has acquired a public cord blood bank company based in Orlando for $14 million.
Cryo-Cell announced the acquisition of CORD: USE on Monday. The sale propels Cyro-Cell into the public cord blood banking business. Cryo-Cell co-CEO David Portnoy said the purchase will raise revenues by about 20 percent.
Cryo-Cell was founded in 1989 and now holds the stem cells of more than 500,000 families from 87 countries, according to the company. CORD: USE has agreements with hospital across the country to receive donations from mothers of babies chord blood while also storing families stem cells.
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