WideCells Group PLC Secures two LOIs for CellPlan
WideCells Group PLC, the healthcare services company focused on providing stem cell services and ground breaking insurance for stem cell treatment, is pleased to provide an update on the continued commercialisation of its 100% owned subsidiary CellPlan Limited (‘CellPlan’), which has developed the world’s first stem cell healthcare insurance plan and medical concierge service.
Having recently secured a maiden definitive agreement with Biovault Technical Ltd, the UK’s largest private human tissue storage facility (‘Biovault’), to roll-out CellPlan to Biovault’s significant customer base (see announcement dated 9 January 2017), the Company is delighted to have signed two further non-binding Letter of Intent (‘LOI’) agreements to support the continued roll-out of CellPlan globally. The Company has also developed a new commercial CellPlan product, YOUR EXPERT CONSULTATION, further bolstering CellPlan’s innovative service offering and creating a new revenue opportunity.
CellPlan signed two new LOIs to offer its revolutionary stem cell healthcare insurance plan and services to:
- Jointly, the specialist cord blood storage and processing facilities in Brazil have a customer base of over 5,000 high-net-worth clients
- CellPlan’s insurance plan will cover the cost of medical treatment for clients using stem cells stored by the storage facilities and their affiliates
- LOIs, once binding definitive agreements, will enable CellPlan to target a new global market, creating new revenue opportunities
Launch of new CellPlan product, YOUR EXPERT CONSULTATION, an expert medical opinion service
- Supported by a global leader in expert medical opinion, YOUR EXPERT CONSULTATION provides clients with access to the best medical minds in the stem cell industry, ensuring patients get the right diagnosis and are prescribed the best treatment
- Available both as a standalone product and as part of the broader end-to-end CellPlan insurance plan
- Low-entry price point
- Product launch in response to proven demand from major global cord blood storage facilities
- Supports greater market penetration – cord blood storage facilities able to sell the consultation service directly to their clients with opportunity to upsell CellPlan insurance policy, which provides financial cover for stem cell treatment.
WideCells Group CEO, João Andrade, said, “We launched CellPlan, the world’s first global stem cell healthcare plan, less than a year ago, in May 2016, having identified a critical need for financial and medical support within the rapidly advancing stem cell industry. Having successfully secured a definitive agreement with the UK’s largest private human tissue storage facility, Biovault, which will enable the sale and roll-out of CellPlan to Biovault’s significant customer base, we are delighted to have signed additional potential sales agreements with two reputable cord blood storage facilities in Brazil. These initial LOI agreements, which we look forward to converting into definitive sales agreements, mark a further notable step in the commercialisation of CellPlan, providing exposure to a new global region with strong growth prospects; the Brazilian cord blood banking market is projected to be worth US$445 million by 2023, the largest in South America’s booming stem cell industry.
“Alongside CellPlan’s roll-out, and as part of our ongoing discussions with cord blood storage facilities, we have identified a strong demand for our innovative medical consultation service to be offered as part of our comprehensive CellPlan healthcare plan, but also as a standalone product. Accordingly, we have created, YOUR EXPERT CONSULTATION; a specialist medical opinion service, which provides clients with access to the best medical minds. With a low-entry price point, and a number of major global cord blood storage facilities showing their interest in this product, we believe the launch of this consultation service will not only create a new revenue stream for the Company, but also bolster sales opportunities for CellPlan. We look forward to the exciting opportunities ahead.”
WideCells Group plc will be presenting at Share Talk’s first Investor’s Evening of 2017 on Saturday 18 February at the National Museum in Cardiff. Click here for more details.
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