Friday, Cord Blood America, Inc. announced that it had gained the assets of NeoCells for $320,000 during a foreclosure procedure. NeoCells is a subsidiary of Evanston, Illinois company ViviCells International, Inc.
Cord Blood America, parent company of CorCell, is an umbilical cord stem cell preservation company that works with parents who are expecting children. Aiming to be the “most respected stem cell preservation company in the industry”, Cord Blood collects stem cells from the umbilical cords of expectant mothers through a non-invasive process.
Matthew Schissler, co-founder and CEO of Cord Blood America said, “This is good news for our growth. CBAI has been highly acquisitive for a distinct reason. In today’s environment, with lots of companies struggling, we have found acquiring samples to be a very effective means to improve company gross margins,”
Schissler continued, “With this foreclosure, Cord Blood America has now added more than 2,700 customers this year through acquisition alone, not counting organic growth, including the previous purchase in February of all the umbilical cord blood samples from Reproductive Genetics Institute, Inc., also in Illinois. All customers have had their umbilical cord blood stem cells, which were saved at birth, moved to our Las Vegas headquarters. We’ve assumed the cryogenic storage of these samples, and billings from their contracts. We are excited to welcome the NeoCells customers to the Cord Blood America family.”