Cryo-Cell International to Explore Strategic Acquisition Opportunities
Company Engages Morgan Joseph's Healthcare Investment Banking Group
OLDSMAR, Fla., Aug. 16, 2010 (GLOBE NEWSWIRE) -- 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 Celle(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 Celle 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.
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.
The Celle(SM) 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.
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 ability of the Company to successfully identify, consummate and integrate acquisitions, the costs and expense associated with acquisitions, the ability of the Company to realize benefits from any acquisitions, the ability of the Company to obtain any necessary financing in connection with any acquisitions 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 firstname.lastname@example.org 212-362-1200 Cryo-Cell International, Inc. Media Inquiries: Wendi Lee email@example.com 813-749-2153
Released August 16, 2010