OR WAIT 15 SECS
29 June, 2015.
AMAG Pharmaceuticals (Waltham, MA) is to acquire Cord Blood Registry (CBR; San Bruno, CA) for $700 million. Founded in 1992, CBR is the world’s largest newborn stem cell company; according to AMAG's press release, its acquisition of CBR will "expand AMAG's suite of maternal health offerings and add a high-margin business with complementary commercial capabilities and attractive future growth opportunities to [its] portfolio". CBR owns a state-of-the-art storage facility that houses more than 600,000 preserved umbilical cord blood and tissue stem cell units, which represents more than half of all privately stored cord units in the U.S. In 2014, the company generated pro forma revenue of approximately $126 million and adjusted EBITDA of$45 million. The deal is expected to close in Q3.