Cell Care bought by US private equity firm
International law firm Allens has advised US private equity firm GI Partners and its portfolio company, Generate Life Sciences, on the latter’s acquisition of Cell Care.
Firm: Allens (GI Partners).
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
Deal: Generate Life Sciences (Generate) has acquired Cell Care.
Value: Undisclosed.
Area: M&A, corporate.
Key players: The legal team advising GI Partners was led by corporate partner Kounny Rattley, with assistance from senior associate James Nguyen, associate Alex Selig and lawyer Terence Zhou.
Deal significance: Cell Care is Australia’s leading cord blood and tissue bank. In its years of operation, the company has collected and stored the most cord blood and tissue samples in Australia. Further, it wholly controls Canada’s largest cord blood banking program, Insception.
Generate’s acquisition of Cell Care aims to combine the Cell Care business with its existing US cord banking business, which operates North America’s largest cord blood bank.
“The acquisition will create an international platform from which to offer reproductive, genetic and stem cell services, as well as advancing newborn stem cell and regenerative medicine research,” a statement from Allens said.
Commenting further, lead partner Ms Rattley said: “We congratulate GI Partners and Generate Life Sciences on this important transaction, which sees Generate Life Sciences add a significant piece of the puzzle to its global expansion.
“The transaction comes amid growing demand from overseas private equity sponsors for high-quality Australian businesses. We’re seeing more and more international sponsors looking to create global synergies and diversified portfolios through Australian acquisitions.”