US-based AMAG Pharmaceuticals has completed the acquisition of umbilical cord blood stem cell collection and storage firm Cord Blood Registry (CBR) for $700m.
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The deal was first announced by both the firms in June this year.
The acquired business is expected to expand AMAG’s operational activities in the maternal health market.
AMAG Pharmaceuticals CEO William Heiden said: “The completion of AMAG’s acquisition of CBR marks another step forward in our strategy to expand and diversify our business through the acquisition of products and companies that leverage our therapeutic expertise and core competencies.
“CBR is a strong strategic fit for AMAG’s growing maternal health business and offers a unique opportunity to reach a broader population of expectant mothers who may benefit from our product offerings in the maternal health space, including Makena.”
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By GlobalDataEstablished in 1992, CBR collaborates with academic institutions that carry out clinical trials focused on assessing the use of stem cells for regenerative medicine applications in diseases and conditions, including autism, cerebral palsy and paediatric stroke.
CBR’s storage facility includes around 600,000 preserved umbilical cord blood and tissue stem cell units, representing around more than half of all privately stored cord units in the US.
The company reported revenues of $126m and adjusted EBITDA of $45m in 2014.
CBR executive Geoffrey Crouse will act as president of CBR and executive vice-president at AMAG, reporting to Hayden.
