Cryo-Cell International engages investment bank to evaluate strategic acquisition opportunities

Aug 16 2010

Cryo-Cell International, Inc. (OTCBB:CCEL) (the "Company"), one of the world's largest and most established family cord blood banks today announced that it has engaged Morgan Joseph LLC, a full service investment bank, to evaluate strategic acquisition opportunities available to enhance value for Cryo-Cell's shareholders.  Morgan Joseph's Healthcare Investment Banking Group will serve as the Company's exclusive financial advisor and investment banker to evaluate a broad range of strategic growth acquisitions for Cryo-Cell's global cord blood banking business and the Company's proprietary Célle^SM menstrual stem cell technology portfolio and to manage any prospective transaction process that may evolve from such evaluation.

Cryo-Cell has nearly 215,000 clients worldwide in addition to twenty-one global license affiliates.  The Company's cord blood banking business continues to generate strong recurring revenues; global revenue growth and operating profitability. The Company also maintains significant cash reserves and has no long-term debt on its balance sheet.  Cryo-Cell believes that its highly differentiated growth strategy creates significant opportunities through the Company's Célle proprietary menstrual stem cell technology.  

"We are pleased to have Morgan Joseph serve as Cryo-Cell's financial advisor as we explore strategic growth acquisitions to optimize value for our shareholders in the coming periods.  Their Healthcare Group has deep sector knowledge, extensive transaction expertise and a breadth of relationships with leading capital and strategic partners that make them our ideal advisory partner at this exciting and pivotal time in the Company's history," stated Mercedes A. Walton, Chairman & CEO.

SOURCE Cryo-Cell International, Inc.