3 million people globally store stem cells for treatment in the future


WideCells Group has signed a deal to bring its stem cell insurance product, CellPlan, to the Asian market. This is another step in geographical expansion of the group, following recent contracts in Europe and South America.

The London healthcare services group has signed a deal with Cryoviva, a cord blood storage facility with operations in Thailand, Singapore and India. Cryoviva has 250,000 inspected stem cell samples stored, with plans to add 25,000 new samples each year.

CellPlan allows users to store their stem cells for treatment in the future, protecting them from unforeseen healthcare costs, with an average cost of £170 per annum.

3 million people globally store stem cells, with average storage costs of £2,000 plus annual fees. Stem cell treatment can cost up to £300,000, so many people cannot afford to use their stem cells.

CellPlan insurance covers costs up to £1 million for treatment, travel and accommodation, anywhere in the world. Cord blood stem cells have been used for 20 years in the treatment of more than 80 different blood diseases. They have been used in more than 35,000 transplants so far.

CellPlan will be launched to Cryoviva customers on a phased basis, beginning in the second half of 2018.

João Andrade of WideCells says "Our innovative insurance product has the potential to revolutionise the stem cell market by making treatment much more affordable. This agreement with Cryoviva will enable us to launch CellPlan in one of the fastest growing stem cell markets where there is clear demand for stem cell services.  By implementing a staged roll out model, we are able to ensure the stable growth of our operations in each country and provide a solid base for continued growth.”

WideCells has received approval, under its brand name BabyCells, to offer umbilical cord blood and tissue storage services to clients in the UK and Europe.

The group has a licence from the UK's Human Tissue Authority, which allows the company to import, export, process, store and distribute for treatment umbilical cord blood and tissue.

The BabyCells service costs £2,000 per sample for one year's storage, with recurring storage revenues priced at £50-£75 a year thereafter. Customers are offered one year's stem cell insurance cover provided by the firm’s CellPlan division. The group runs the largest UK private stem cell storage bank in Manchester.

View other news in Stem Cell treatment on the IMTJ website.




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