LifeCell is expecting its umbilical stem cell banking service to improve in volumes after being priced at Rs 9990
Leading stem cell banking in the country LifeCell recently announced that the company is expecting a 50% revenue growth for the fiscal FY16. Citing new initiatives taken by the company across India, including making the umbilical stem cell banking more affordable at a price point of Rs 9990, the company is hoping to drive more volumes of the business.
LifeCell currently enjoys a deep presence in India, with over 220 centres in the country, and also, plans to include 80 more of such centres. The company has presence in the Gulf Cooperation Council (GCC) countries, including UAE, Bahrain, Kuwait, Saudi Arabia and Oman, and as reported by the PTI has firm plans to expand in the middle-east and Singapore.
When asked how the company plans to fund the expansion, LifeCell CEO & Managing Director Mayur Abhaya said to PTI: “The company has strong positive cash flows and has a large unleveraged balance sheet which can be tapped into to fund its future expansions. No external fund raise is envisaged.”
Enunciating the strategies of growth said: “The Ayushmaan Bhava campaign that we have launched has been built with the objective of reaching out to a larger audience in the context of our price transformation, which makes the service even more affordable at a starting price of just Rs 9,990.”
The price transformation, in combination with a shift in positioning of the service is anticipated to bring us three times the growth in volume, he added.
LifeCell was established in 2004, in technological collaboration with Cryo-Cell International and over 1,30,000 parents have banked their children’s stem cells with the company.