California Cryobank to be acquired by GI Partners and combined with Cord Blood Registry to create a leading life sciences platform

June 20, 2018

California Cryobank, the world’s leading donor sperm and donor egg bank, has signed a definitive agreement with GI Partners, a San Francisco-based private equity firm, to acquire the company from leading healthcare investors Longitude Capital and NovaQuest Capital. In a separate transaction, GI Partners has also entered into a definitive agreement with AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) to acquire Cord Blood Registry (CBR), the world’s largest stem cell collection and storage company, for $530 million. Following the close of both transactions, California Cryobank and CBR will form a combined entity operating under the California Cryobank Life Sciences platform.

Cain Brothers served as the exclusive financial advisor to California Cryobank and assisted in structuring and negotiating the transaction.

Founded in 1977, California Cryobank has been an industry leader and innovator recognized as the world’s premier donor sperm and egg bank. The Company has helped over 75,000 families. Richard Jennings, California Cryobank CEO, commented that “The Life Sciences platform created by the combination of our two companies will allow 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.”

For more information, please contact:

John V. Soden

Managing Director
(415) 962-2922
jsoden@cainbrothers.com

Rafe B. Hanahan

Managing Director
(415) 962-2960
rhanahan@cainbrothers.com

Wyatt Ritchie

Managing Director
(415) 962-2935
writchie@cainbrothers.com