CORD:USE has been acquired by Cryo-Cell International
- Background: CORD:USE Cord Blood Bank (“Cord”), based in Orlando, FL, owns and operates a cord blood bank that focuses on building an inventory of umbilical cord blood stem cell units for patients in need of a life-saving transplant.
- Cassel Salpeter:
- Served as financial advisor to the Company
- Advised Cord in evaluating its strategic options and provided assistance throughout the due diligence and closing process
- Ran a broad sales process, contacting 115 parties
- Challenges:
- Small footprint – Marketing in select markets
- Sizeable amount of debt
- Complex capital structure
- Outcome: In June 2018, Cord was acquired by Cryo-Cell International, Inc. The upfront consideration consisted of cash and shares of Common Stock with the potential for contingency cash payments based upon pre-determined milestones.
