Riverside Acquires Portuguese Provider of Isolation and Cryopreservation of Stem Cells from Umbilical Cord Blood
News Oct 01, 2009
Founded in 2003 by a group of young entrepreneurs with experience in the Portuguese healthcare industry, Crioestaminal gives the parents of newborn babies the opportunity to collect, isolate and cryopreserve umbilical cord blood stem cells. Today, more than 30,000 parents have entrusted Crioestaminal with the responsibility to save stem cells from their children.
If necessary, these cells can be used by the family to treat serious medical illnesses in the future since stem cells are the precursors to just about every type of specialized cell in the body and provide an unlimited supply of replacement tissues to help treat everything from diabetes to Parkinson's disease. These services are provided through public and private hospitals.
The worldwide market in stem-cell therapeutics is predicted to reach anywhere between EUR€ 6.8 billion to EUR€ 20.3 billion by 2015 and Crioestaminal, due to its first-mover advantage, earned reputation, and management experience will continue to play an important role in the future of the industry.