Mergers and Acquisitions

Cryo-Cell Sells Subsidiary For Equity In Cellular Storage Company

Published in Blood Weekly, November 29th, 2001

Cryo-Cell International, Inc., (CCEL) has sold 90% of Safti-Cell, Inc., a wholly owned inoperative subsidiary of the company, to Diversified Cellular Storage, Inc., a company in the process of being formed. Diversified Cellular Storage will be building a backup cellular storage facility in Sedona, Arizona.

"Cryo-Cell formed Safti-Cell, Inc., in 1993 with a future view to building a secondary storage program for companies involved in cellular storage," said Daniel D. Richard, chairman and chief executive officer of Cryo-Cell. "Although at the time the need was conceptual, the corporation paid its annual fees for eight years. Perseverance and patience paid off this...

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Source: Blood Weekly (2001-11-29)

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