Cordlife Group CEO Jeremy Yee said in recent years Cordlife has successfully brought the benefits of umbilical cord blood banking to numerous people in multiple regions across China.
"We believe our alliance with CCBC should not be confined to a particular part of China, but instead gives the Company our full support across all regions where CCBC operates," Yee added.
CCBC chairperson and CEO Ting Zheng said Cordlife has established an extensive presence across these two key markets and created tremendous market awareness.
"By joining forces, we can benefit from Cordlife’s professional status and Asia-wide expertise and better serve our existing and prospective clients throughout our operating regions," Zheng added.
According to CCBC, the partnership will enable Cordlife to acquire a 10% minority stake of CCBC and CCBC taking 100% equity ownership in Guangzhou Municipality Tianhe Nuoya Bio-engineering company.