The Riverside Company, a global private equity firm investing in companies with enterprise values of under EUR150m, has acquired Crioestaminal, a company that isolates and cryopreserves stem cells from umbilical cord blood.
Riverside is acquiring the Portuguese company with some of the founders and key members of the management team.
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 used Crioestaminal 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. The services are provided through public and private hospitals.
The worldwide market in stem-cell therapeutics is predicted to reach between EUR6.8bn and EUR20.3bn by 2015.
Equity for the deal will be provided by Riverside’s most recent fund, Riverside Europe Fund IV, and the acquisition debt is provided by Banco Espirito Santo and Millenium Banco Comercial Português.