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Cleveland LBO firm Riverside Co. buys Spanish cord blood bank

Cleveland, Ohio leveraged buyout firm Riverside Co. has acquired private cord blood bank Celvitae Biomedica S.A. in Madrid, Spain for undisclosed terms. Celvitae is one of two cord blood banks licensed in Spain and authorized to work in the public health system, Riverside said in a release. It also has major commercial agreements with some […]

Cleveland, Ohio leveraged buyout firm Riverside Co. has acquired private cord blood bank Celvitae Biomedica S.A. in Madrid, Spain for undisclosed terms.

Celvitae is one of two cord blood banks licensed in Spain and authorized to work in the public health system, Riverside said in a release. It also has major commercial agreements with some of the leading insurance companies in the Spanish market.

Last year, Celvitae struck a strategic agreement with MD Anderson Internacional Espana, a cancer treatment center in Europe that ensures all cord blood stem cell samples collected in Spain are processed within 24 hours at its Madrid facilities.

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Riverside will add Celvitae to its Crioestaminal platform, the Cantanhede, Portugal company that is a pioneer and market leader in the isolation and storage of cord blood stem cells. More than 40,000 parents have trusted the company to store their children’s stem cells.

Riverside acquired Crioestaminal last year. The Celvitae acquisition was made from Riverside Europe Fund IV. Riverside is co-headquartered in New York City.