Apr. 13, 2012 (China Knowledge) - China
Cord Blood Corp (CCBC), the country’s largest operator of services for umbilical cord blood that is rich in stem cells, announced yesterday that U.S. private-equity Kohlberg Kravis Roberts & Co L.P. (KKR) has agreed to invest US$65 million in the Chinese company, sources reported.
The capital injection will be completed through KKR China
Growth Fund L.P., a China
-focus investment fund managed by KKR.
KKR has hired Citigroup as its financial advisor for the deal.
CCBC, listed on the New York Stock Exchange in 2009, is a unit of Golden Meditech Holdings Ltd<0801> and is the first licensed cord blood banking operator in the country, offering collection, testing, processing and storage services. The company operates the country's largest cord blood banking network covering 180 million people and with 1.9 million new births per year.