Cryo-Cell Announces Industry-Exclusive Agreement With MedTech For Solutions, Inc. Group Purchasing Organization
Company to Offer Cryology RTS(R) and Other Cryo-Cell Services to Specialized Member Network of 115 Reproductive Medicine Practices and Their Patients
DENVER, Oct. 26, 2010 (GLOBE NEWSWIRE) -- Cryo-Cell International, Inc. (OTCBB:CCEL) (the "Company"), one of the world's largest and most established family cord blood banks and global stem cell innovators, today announced at the annual meeting of the American Society of Reproductive Medicine (ASRM) that the Company has formalized an industry-exclusive agreement with MedTech For Solutions, Inc., a Group Purchasing Organization (GPO) representing a member network of 115 practices specializing in reproductive medicine, which operates in conjunction with The Broadlane Group. The Company will offer Cryology RTS®, a new reproductive tissue storage service for cryopreserved embryos, oocyctes and sperm, along with other Cryo-Cell services, to the GPO practice members and their patients at discounted fees.
"We are very proud to partner with Cryo-Cell International to offer high quality and competitively priced reproductive tissue storage, along with other Cryo-Cell services, to our GPO's expansive and fast-growing member network," stated Dwight P. Ryan, MedTech For Solutions President and CEO. "Our partnership with Cryo-Cell is expected to provide GPO practice members and their patients with the opportunity for substantial, savings and compelling value-added benefits from a globally-recognized industry leader."
The MedTech For Solutions GPO enables practices to recognize significant savings on all medical, pharmacy, laboratory, capital equipment and office purchasing needs. MedTech for Solutions' Laboratory Solutions consulting division is devoted to optimizing ART laboratories operations and improving clinical outcomes. Additionally, MedTech provides practice development, recruitment and risk management services.
Cryo-Cell is expected to be the industry-exclusive service provider to MedTech's GPO member network for reproductive tissue storage and other biological tissue cryopreservation services such as the Company's signature U-Cord® umbilical cord blood stem cell preservation service; CelleSM menstrual stem cell service; and Protect Baby, Protect MomSM, the premium healthcare bundle.
"We are very pleased to partner with MedTech For Solutions, Inc. to provide the Company's new reproductive tissue storage service, Cryology RTS, along with other Cryo-Cell services to this premier GPO practice network and their patients," stated Mercedes A. Walton, Cryo-Cell's Chairman and Chief Executive Officer. "We anticipate that our industry-exclusive agreement with MedTech For Solutions, a GPO representing nearly one-quarter of the U.S. reproductive medicine practices, may potentially provide a high-value and single-source solution for a vast sector of reproductive medicine clients with current and future biological tissue cryogenic storage needs."
It is estimated that ten percent of couples in the U.S. have difficulty conceiving and fertility services are estimated to be a $4 billion industry. There is no cost for medical practices to join the MedTech for Solutions GPO. Cryology RTS is expected to be generally available in early 2011.
About MedTech for Solutions, Inc.
MedTech For Solutions offers a full range of services to specialty medical practices, with emphasis on ART practices and their laboratory components. MedTech For Solutions GPO provides practices significant savings of for all medical, pharmacy, laboratory, capital equipment and office purchasing needs. Their Laboratory Solutions consulting division is dedicated to working with practices to assist in the building of new laboratories, establishing and implementing state-of-the-art embryology practices, optimizing ART laboratories operations and improving clinical outcomes. Additionally, MedTech practice development, recruitment and risk management services. For more information, visit www.MedTech4Solutions.com.
About Cryo-Cell International, Inc.
Based in Oldsmar, Florida, with nearly 215,000 clients worldwide, Cryo-Cell is one of the largest and most established family cord blood banks. ISO 9001:2008 certified and accredited by the AABB, Cryo-Cell operates in a state-of-the-art Good Manufacturing Practice and Good Tissue Practice (cGMP/cGTP)-compliant facility. In November 2007, the Company launched Celle (pronounced "C-L"), the world's first-ever commercial service allowing women to cryopreserve their own menstrual stem cells. Cryo-Cell is a publicly traded company. OTC Bulletin Board Symbol: CCEL. Expectant parents or healthcare professionals may call 1-800-STOR-CELL (1-800-786-7235) or visit www.cryo-cell.com.
About Celle
The CelleSM service was introduced in November 2007 as the first and only service that empowers women to collect and cryopreserve menstrual flow containing undifferentiated adult stem cells for future utilization by the donor or possibly their first-degree relatives in a manner similar to umbilical cord blood stem cells. For more information, visit www.celle.com.
About Cryology RTS
Cryology RTS will offer high quality and competitively priced reproductive tissue cryopreservation services including short and longer-term storage; transportation coordination between facilities; and special quarantine storage for infectious disease positive specimens. For more information visit, www.CryologyRTS.com
Forward-Looking Statement
Statements wherein the terms "believes", "intends", "projects", "anticipates", "expects", and similar expressions as used are intended to reflect "forward-looking statements" of the Company. The information contained herein is subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward-looking statements or paragraphs, many of which are outside the control of the Company. These uncertainties and other factors include the success of Cryo-Cell in providing GPO practice members and their clients with substantial potential savings and compelling valued-added benefits, whether the agreement with MedTech For Solutions actually provides Cryo-Cell the ability to serve as a high-value and single-source solution for a vast sector of reproductive medicine clients with current and future biological tissue cryogenic storage needs and those risks and uncertainties contained in risk factors described in documents the Company files from time to time with the Securities and Exchange Commission, including the most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and any Current Reports on Form 8-K filed by the Company. The Company disclaims any obligations to subsequently revise any forward-looking statements to reflect events or circumstances after the date of such statements.
CONTACT: Stern Investor Relations
Investors
Julia Avery
212-362-1200
julia@sternir.com
Cryo-Cell International, Inc.
Media Inquiries
Wendi Lee
813-749-2153
wlee@cryo-cell.com
Released October 26, 2010