GTCR has closed its previously announced sale of Cord Blood Registry to AMAG Pharmaceuticals Inc for $700 million. Houlihan Lokey provided financial advice to CBR on the transaction while Deutsche Bank Securities Inc and Jefferies LLC advised AMAG. Based in San Bruno, California, CBR is a newborn stem cell company.
August 17, 2015 04:15 PM Eastern Daylight Time
CHICAGO–(BUSINESS WIRE)–GTCR, a leading private equity firm, announced that it has completed the previously announced sale of its portfolio company Cord Blood Registry (“CBR” or the “Company”) to AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG), a specialty pharmaceutical company that focuses on maternal health and hematology, for $700 million.
Founded in 1992, CBR is the world’s largest newborn stem cell company, entrusted by parents with storing over 600,000 stem cell samples. CBR is dedicated to supporting the clinical application of cord blood and cord tissue stem cells by partnering with institutions to establish FDA-regulated clinical trials for conditions that have no cure today. The Company provides services which enable expectant families to preserve their child’s umbilical cord blood stem cells and cord tissue samples for potential future medical use by the child or a related family member. CBR has helped a significant number of families use their cord blood stem cells for established and experimental medical treatments. The Company’s goal is to expand the potential scope of newborn stem cell therapies that may be available to patients and their families.
In September 2012, GTCR partnered with life sciences executive Geoffrey Crouse to acquire and transform CBR. As part of the transaction, Mr. Crouse joined the Company as CEO. Together, GTCR and Mr. Crouse recruited a senior management team, transformed the digital marketing strategy and further leveraged CBR’s strong industry leadership position to grow the business. By further refining CBR’s commercial infrastructure, GTCR and Mr. Crouse have enabled more effective communication with consumers and OB/GYNs, creating an attractive platform to offer additional products and services in the consumer health and maternal health markets.
Houlihan Lokey served as CBR’s financial advisor and Kirkland & Ellis LLP provided legal counsel. Deutsche Bank Securities Inc. and Jefferies LLC served as AMAG’s financial advisors and Goodwin Procter LLP provided legal counsel.
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare, Technology, Media & Telecommunications and Growth Business Services industries. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $10 billion in over 200 companies. For more information, please visit www.gtcr.com.
About Cord Blood Registry
CBR is the world’s largest newborn stem cell company. Founded in 1992, CBR is entrusted by parents with storing more than 600,000 cord blood and cord tissue units. CBR is dedicated to advancing the clinical application of newborn stem cells by partnering with leading research institutions to establish FDA-regulated clinical trials, for conditions that have no cure today. For more information, visit www.cordblood.com.
As a high-growth specialty pharmaceuticals company, AMAG Pharmaceuticals uses its business and clinical expertise to bring therapeutics to market that provide clear benefits and improve people’s lives. Based in Waltham, Mass., AMAG has a diverse portfolio of products in the areas of maternal health, anemia management and cancer supportive care. AMAG continues to work to expand the impact of these and future products for patients by delivering on its aggressive growth strategy, which includes organic growth, as well as the pursuit of products and companies that align with AMAG’s existing therapeutic areas or those that could benefit from its proven core competencies. For additional company information, please visit www.amagpharma.com.