LOS ANGELES/PRNewswire/ -- California Cryobank, the world's leading donor sperm and donor egg bank, announced today that it has been acquired by GI Partners, a private equity investment firm, from leading healthcare investors Longitude Capital and NovaQuest Capital.
In a separate transaction, GI Partners has also completed its acquisition of Cord Blood Registry (CBR), the world's largest stem cell collection and storage company, from AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG).
GI Partners combined California Cryobank and CBR 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. The combined organization will operate its corporate headquarters out of Los Angeles, CA, while maintaining its state-of-the-art processing and storage facility in Tucson, AZ, and continuing to operate branches in New York, Boston, Northern California, and Rockville, MD.
Dave Kreter, Managing Director at GI Partners said, "We have been following the growing and dynamic reproductive and stem cell space for several years and love the synergy of these two companies. 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 entity's capabilities internationally and make critical investments to support its next phase of growth."
Recognized as the world's premier donor sperm and donor 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.
Richard Jennings, California Cryobank CEO, commented that, "This new Life Sciences platform allows us to utilize our collective strengths more effectively, and achieve our vision of helping to grow and protect healthy families around the world. CBR is the most recognized cord blood brand among expectant parents and we are excited to expand CBR's presence in the newborn stem cell market even further given California Cryobank's global footprint. Cord blood and cord tissue offer a once-in-a-lifetime opportunity to protect families against 80 diseases, and give clients the biologic resource to utilize clinical therapies within regenerative medicine."
"We are bringing together the leaders in two complementary, family-focused industries," explained California Cryobank COO Pamela Richardson. "Both organizations set the standard for clinical excellence, customer experience, physician relations, and overall quality. The combination provides enhanced value to our clients. CBR is a perfect fit with California Cryobank's mission of providing the highest quality reproductive and stem cell services, guided by dedicated customer focus, unmatched scientific excellence, and innovative leadership."
"California Cryobank's customer-focused, family-first approach perfectly aligns with CBR's mission and company culture," said Peter Bawin, Sr. Vice President of CBR. "The California Cryobank Life Sciences platform will empower families to improve their lives through stem cell preservation and provide more options for their families in the future."
About GI Partners
GI Partners is a private equity investment firm based in San Francisco. The firm has raised $16.0 billion in capital from leading institutional investors across the globe. GI Partners' private equity team focuses on investments in the IT Infrastructure, Healthcare, Software, and Services sectors.
