Harris Williams & Co. Advises California Cryobank, Inc. on its Acquisition of Donor Egg Bank USA
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for 25 years, announces that it has advised California Cryobank, Inc. (CCB), a portfolio company of Longitude Capital (Longitude) and NovaQuest Capital Management (NovaQuest), on its acquisition of Donor Egg Bank USA (DEB). CCB is a global leader in reproductive tissue donor services and storage and stem cell banking. The transaction was led by Andy Dixon and Andy Hewlett of Harris Williams & Co.’s Healthcare & Life Sciences (HCLS) Group.
“CCB is a universally recognized leader in the fertility sector with a compelling growth profile and a proven leadership team,” said Andy Dixon, a director in Harris Williams & Co.’s HCLS Group. “The fertility sector continues to experience significant growth both domestically and internationally thanks to demographic tailwinds and technological advances; CCB remains at the forefront of these social and technological advancements. We are excited to have worked with the CCB team again as part of this transaction.”
Andy Hewlett, a vice president in Harris Williams & Co.’s HCLS Group, added, “CCB’s acquisition of DEB adds a strategically compelling frozen egg program to the company’s existing reproductive tissue services and further enhances CCB’s position as a leader in multiple fertility market sub-sectors.”
DEB is a frozen donor egg program developed through the collaboration of more than 200 of the country's top reproductive specialists and available at more than 100 locations throughout the U.S. and Canada. DEB gives immediate access to a broad donor egg pool and uses advanced freezing technology to produce success rates similar to traditional (fresh) donor egg programs. DEB offers the financial security of a 100% Assured Refund Plan™ if a couple does not deliver a baby. DEB makes frozen egg fertility options available to couples nationally and across the globe.
CCB provides a comprehensive resource for frozen donor sperm and eggs, as well as private semen, egg and embryo storage. In addition, since 1997, CCB has provided stem cell services through its FamilyCord subsidiary, including both cord blood and cord tissue banking. CCB operates throughout the U.S. as well as Europe, South America and Asia. CCB is registered with the FDA, accredited by the AATB (American Association of Tissue Banks), licensed by the states of California and New York and has three CLIA-certified clinical laboratories.
Longitude is a private investment firm that focuses on venture growth investments in leading healthcare companies. Founded in 2006, Longitude has offices in Menlo Park, California and Greenwich, Connecticut. The firm builds balanced healthcare portfolios focused on creating value in special situations, including acquisitions, spin outs, PIPEs and structured transactions as well as traditional venture and growth equity. Longitude most recently raised $525 million for its third fund, Longitude Venture Partners III, L.P., in 2016.
NovaQuest is an independent investment firm which manages product and company investments in the global healthcare industry. The NovaQuest team has worked together for over 14 years, investing over $1 billion into the global healthcare industry. NovaQuest focuses on product finance investments with global biopharmaceutical companies in strategic, late-stage clinical and commercialized assets. These customized, product transactions are an alternative to standard biopharmaceutical industry deal-making and help companies maximize the value of their asset portfolios. In addition, NovaQuest invests in select private equity and other company securities, with a consistent focus on late-stage clinical and commercialized products.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams & Co.’s HCLS Group has experience across a broad range of sectors, including alternate site care; outsourced clinical and practice management services; healthcare staffing; healthcare IT; managed care and cost containment services; medical devices, products and distribution; and outsourced pharma services. For more information on the HCLS Group and other recent transactions, visit the HCLS Group’s section of the Harris Williams & Co. website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.