Americord Registry Considering Strategic Options
After Sale of CBR and Unsolicited Bid, Americord Considers Full Range of Strategic and Financial Options
NEW YORK, July 8, 2015 /PRNewswire/ -- Today, Americord Registry, one of the fastest growing umbilical cord blood, cord tissue and placental tissue stem cell banks in the U.S., announced that it is maintaining strong growth in 2015 after an unsolicited takeover proposal earlier this year. Investor and strategic interests in the cord blood banking industry were further reinforced after GTCR reached an agreement last week to sell newborn stem cell business CBR Systems Inc. (or "Cord Blood Registry") to publicly listed AMAG Pharmaceuticals Inc. for $700 million. The purchase of Americord's largest competitor valued CBR at over 5.55 times revenue and over 15.55 times EBITDA. Interestingly, Viacord, Americord's second largest competitor, was also sold previously for precisely the same multiple to PerkinElmer - 5.55 times revenue.
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"We are excited about the future options and opportunities in this changing industry," says Martin Smithmyer, CEO of Americord. "We're thrilled to be a leader in the advancement of cord blood banking during this crucial time." Americord is considering future strategic and growth financing options throughout the remainder of 2015, coinciding with aggressive growth projections well into 2016.
About Americord Registry
Americord Registry is a leader in the advancement of umbilical cord blood, cord tissue and placenta tissue banking. Americord collects, processes, and stores newborn stem cells from umbilical cord blood for future medical or therapeutic use, including the treatment of more than 80 blood diseases such as sickle cell anemia and leukemia. Founded in 2008, Americord is registered with the FDA and operates in all 50 states. The company's laboratory is CLIA Certified, accredited by the AABB and complies with all federal and state guidelines and applicable licenses. Americord is headquartered in New York, NY. You may visit Americord Registry's website at www.americordblood.com for more information.
PRESS CONTACT:
Raechel Sherwood
[email protected]
866-503-6005 ext. 944
INVESTOR & BUSINESS DEVELOPMENT CONTACT:
Martin Smithmyer
[email protected]
866-503-6005 ext. 982
SOURCE Americord Registry
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