Divestiture of Evercord Cord Blood Banking Business
|Date Announced:||September 2019|
LOS ANGELES, Sept. 13, 2019 /PRNewswire/ — CBR (Cord Blood Registry), the world’s largest newborn stem cell collection and storage company, today announced the asset acquisition of Natera, Inc.’s (NASDAQ: NTRA) Evercord™ newborn stem cell business. The mutually beneficial move brings together two of the industry’s most respected newborn stem cell storage companies.
“As a pillar of the California Cryobank Life Sciences (CCLS) organization, CBR is built on scientific excellence, leadership, and best-in-class services,” said Richard Jennings, California Cryobank Life Sciences, CEO. “Natera shares our core values and commitment to quality. We look forward to safeguarding these newborn stem cells, and allowing the Evercord families to take advantage of future advances in cellular therapies and regenerative medicine.”
“This divestiture will allow Natera to focus squarely on its core genetic testing business in reproductive health, oncology and organ transplantation,” said Steve Chapman, Natera’s CEO. “We are proud of what we’ve accomplished with Evercord and believe that CBR, as the recognized industry leader in newborn stem cells, is the best partner for cord blood services moving forward.”
California Cryobank Life Sciences (CCLS) includes CBR, as well as industry leading reproductive tissue banks California Cryobank, and Donor Egg Bank USA. CCLS is owned by GI Partners, a private investment firm based in San Francisco.
Convergence Healthcare Advisors LLC served as exclusive strategic advisor to Natera, Inc. on the sale of the Evercord business.