The acquisition will expand AMAG’s suite of maternal health business and add improved commercial capabilities as well as future growth opportunities to its portfolio.
CBR’s storage facility houses over 600,000 preserved umbilical cord blood and tissue stem cell units, which represent more than half of all privately stored cord units in the US.
AMAG chief executive officer William Heiden said: "CBR is a strong strategic fit for our maternal health business and will advance our strategy to pursue differentiated products in growing specialty markets.
"CBR is the most recognized stem cell banking brand among healthcare providers and is the top choice for families who choose to store cord blood, not only for their known clinical uses today, but also for their broader potential future utility.
"Moreover, CBR’s sophisticated, consumer-driven marketing capabilities offer a compelling opportunity to reach a broader population of expectant mothers who may benefit from our product offerings in the maternal health space, including Makena."
Last year, CBR generated pro forma revenue of about $126m and adjusted EBITDA of $45m.
The transaction, which is subject to customary conditions, including expiration or termination of the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976, is expected to be completed in the third quarter of 2015.
In this transaction, Jefferies Finance and Barclays Capital are serving as initial lenders and lead arrangers for AMAG, and have granted $800m in committed debt financing.