LifeCell is looking to raise $10 million from
international private equity players in the healthcare space to fund its
expansion
Stem
cell service provider LifeCell will ramp up its presence in the Asian markets
in the next few months.
The
company preserves stem cells obtained from umbilical cord blood and cord
tissue. It has 100 collection centres across India.
LifeCell
is also present in West Asia across Bahrain, Qatar and Dubai. Blood banking is
a regulated process in these markets – only the government is allowed to store
and preserve blood. Collection is, however, allowed by private players.
LifeCell has tied up with DHL Blue Dart to ship the samples to its lab in
Chennai.
LifeCell
processes and stores stem cells at its 60,000-sq. ft facility in Kelambakkam,
Chennai. It is establishing another labin Delhi by July.
West
Asia accounts for just 1 per cent of LifeCell's revenues. LifeCell is looking
to expand into Oman and Saudi. It will also enter Singapore, Malaysia, Nepal,
Sri Lanka and Bangladesh in a few months.
LifeCell
is looking to raise $10 million from international private equity players in
the healthcare space to fund its expansion. The company has been on the lookout
for partners for over a year now; it expects to close funding in a couple of
months.
Last
year, the company entered into stem cell banking using menstrual blood in a
tie-up with US-based CryoCell. “This has seen mixed response from women given
the social stigma and sensitivity attached to it. There is also disbelief that
such a thing is possible,” said Mr Mayur Abhaya, Executive Director.
Menstrual
blood banking has found takers mainly from the upper economic class, including
celebrities, as affordability is an issue.
The
package costs Rs 29,900 with annual storage fee of Rs 1,500. The company is
targeting women of all socio-economic strata and has come out with an EMI plan.
It also hopes to bring down the costs over a period of time. LifeCell plans to
launch this package in the overseas markets as well.
LifeCell
has an EMI option for cord blood banking too. This accounts for 80 per cent of
LifeCell's Rs 55-crore business. The company has made over 45,000 cord blood
collections till date.
The
stem cell market is pegged at Rs 150 crore in the country.
thehindubusinessline.com
Business & Investment Opportunities
YourVietnamExpert is a division of Saigon Business Corporation Pte Ltd, Incorporated in Singapore since 1994. As Your Business Companion, we propose a range of services in Strategy, Investment and Management, focusing Healthcare and Life Science with expertise in ASEAN. We also propose Higher Education, as a bridge between educational structures and industries, by supporting international programmes. Many thanks for visiting www.yourvietnamexpert.com and/or contacting us at contact@yourvietnamexpert.com
No comments:
Post a Comment