HONG KONG & BEIJING--(BUSINESS WIRE)--
China Cord Blood Corporation ("CCBC") (NYSE:CO) and Kohlberg Kravis
Roberts & Co. L.P. (together with its affiliates, "KKR") announced that
they have entered into agreements under which KKR China Growth Fund
L.P., a China focused investment fund managed by KKR, is expected to
invest $65 million into CCBC, the largest cord blood banking operator in
China, to support its further business expansion and to capitalize on
China's fast growing healthcare services industry.
Cord blood contains large quantities of stem cells that, if stored
properly, can later be used to treat life-threatening diseases. The
applications of cord blood stem cells continue to expand, and can now be
used to treat over 80 types of diseases, such as leukemia, lymphoma,
thalassemia and inherited immune system disorders. This progress in
medical research and clinical applications continues to raise public
awareness of the benefits of storing cord blood.
Listed on the New York Stock Exchange since 2009, CCBC was the first
licensed cord blood banking operator in China, providing collection,
testing, processing, and storage services. CCBC runs the largest cord
blood banking network in China in terms of geographical coverage, with
exclusive licenses to service the city of Beijing, Guangdong Province
and Zhejiang Province. This area covers more than 180 million people and
has 1.9 million new births annually.
Ting Zheng, Chairperson and CEO of CCBC stated, "CCBC provides an
important service to families across China who want to safeguard the
lives and health of their newborns. We are delighted to have KKR as our
partner. Our senior management team is most impressed by KKR's global
franchise and its strong local track record in China. KKR's investment
is undoubtedly a strong vote of confidence in our company, our
management team and our vision for the future."
"CCBC runs an impressive operation that meets stringent quality
standards and provides a critical medical service to its customers. As
we continue to build our China portfolio, we are excited to support a
company that is dedicated to improving healthcare services and making a
positive impact on lives in China," said David Liu, Member of KKR and
CEO of KKR Greater China.
"CCBC has an effective platform and its services will increase in value
as its application expands," said Julian Wolhardt, Member of KKR. "In
addition, CCBC has an outstanding and dedicated management team who has
worked together for almost a decade. We are very delighted to partner
with them to build CCBC into a market leader in its field."
Citigroup Global Markets Asia Ltd. acted as financial advisor to KKR.
For details of the transaction, please refer to CCBC's 6-K filings.
ABOUT CHINA CORD BLOOD CORPORATION
China Cord Blood Corporation is the first and largest umbilical cord
blood banking operator in China in terms of geographical coverage and is
the only cord blood banking operator with multiple licenses. Under
current PRC government regulations, only one licensed cord blood banking
operator is permitted to operate in each licensed region. China Cord
Blood Corporation provides cord blood collection, laboratory testing,
hematopoietic stem cell processing and stem cell storage services. For
more information, please visit the company's website at http://www.chinacordbloodcorp.com.
Founded in 1976 and led by Henry Kravis and George Roberts, KKR is a
leading global investment firm with $59.0 billion in assets under
management as of December 31, 2011. With offices around the world,
including Beijing, KKR manages assets through a variety of investment
funds and accounts covering multiple asset classes. KKR seeks to create
value by bringing operational expertise to its portfolio companies and
through active oversight and monitoring of its investments. KKR
complements its investment expertise and strengthens interactions with
investors through its client relationships and capital markets platform.
KKR is publicly traded on the New York Stock Exchange (NYSE: KKR). For
additional information, please visit KKR's website at www.kkr.com.
China Cord Blood Corporation
Joeling Law, (+852) 3605-8180
Kristi Huller, + 1 212 230 9722
Hill+Knowlton Strategies (for KKR Asia)
Pui, (+852) 2894-6378
Alliance International (for KKR China)
Audrey Song, (+8610)
Source: China Cord Blood Corporation
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