CellPlan Launch in Spain

RNS Number : 0835W

WideCells Group PLC

30 July 2018

 

30 July 2018

WideCells Group PLC ('WideCells' or 'the Group')

CellPlan Launch in Spain

WideCells Group PLC, the healthcare services company focused on providing stem cell services and ground-breaking insurance for stem cell treatment, is pleased to announce the launch in Spain of its bespoke ecommerce platform focused on CellPlan, its unique stem cell insurance product, as part of the Group's expansion into this key geographic region.

Highlights

·     Innovative stem cell insurance product CellPlan now available for nationwide purchase in Spain following launch on 27 July 2018 via bespoke ecommerce platform

·     Provides sales exposure to one of the most established cord blood and stem cell storage markets in Europe in line with strategy to build sales and revenue profile

·     Follows successful soft launch in May 2018 to new clients of established provider of stem cell storage services, Stem Cell Banco Celulas Madre, S. A., ('Stem Cell') - 20+ sales secured within two months marking a 100% conversion rate of Stem Cell new clients in May and June

·     Active marketing campaign to commence targeting Stem Cell's existing 22,000 clients as well as the wider Spanish market - anyone in Spain that has stored stem cells in a facility that meets CellPlan Excel stringent quality criteria can now purchase CellPlan via the ecommerce platform

·     Discussions underway with additional stem cell storage facilities in Spain to maximise market penetration

WideCells' CEO, João Andrade, said, "We are delighted to launch CellPlan in Spain, one of the most established stem cell markets in Europe.  Given the positive uptake and interest shown from new Stem Cell clients, with no marketing campaigns yet implemented, we are confident that the launch of our ecommerce platform and full sales activities will prove fruitful.  Stem Cell is a quality provider of stem cell storage services and with a current client base of c.22,000, which is growing daily, we are delighted to be working with its team to build our sales profile.  Alongside this, the newly launched ecommerce platform will enable CellPlan to be purchased by anyone in Spain that has stored stem cells with a facility approved by us, maximising market potential.  With a highly competitive product that has clear market demand and a scalable roll-out model, we look forward to providing more families with access to our end-to-end stem cell services and building revenues for the Group."

Further Information

A new corporate website for CellPlan has been launched in Spain and is available to view at www.cellplan.com/es (an English version is also available to view at www.cellplan.com).  This follows the successful soft launch of the service in May 2018 with established provider of stem cell storage services, Stem Cell, which reported that all new clients signed up during May and June had signed an application form for CellPlan, with the policy to be issued when the platform goes live, and payment is completed.  This translates to 20+ sales and with new clients continuing to be secured by Stem Cell, this figure is set to increase further.  

The Group is now focused on implementing an active marketing campaign in Spain to attract new users to its services via Stem Cell's existing 22,000 clients as well as the wider Spanish market.  To this end, discussions are underway with additional stem cell storage facilities in Spain and the Group continues to target additional growth opportunities in Europe.  Furthermore, positive progress continues to be made regarding the launch of CellPlan in Brazil, Thailand, India and Singapore as part of the Group's agreements with leading Brazilian storage facility Hemocord Clinica Medica Ltd and Asia-Pac focussed Cryoviva Group.  Phased roll-out in these new territories is expected to commence in late 2018 / H1 2019 in line with the Group's global growth strategy.  Further updates will be announced in due course.

**ENDS**

For further information, please visit the Company's website www.widecellsgroup.com, follow us on Twitter @WideCells_Group or contact:

WideCells Group	CEO - João Andrade	Tel:  [phone]
Smaller Company Capital Ltd	Broker - Jeremy Woodgate & Rupert Williams	Tel: [phone]
Shard Capital Partners LLP	Broker - Damon Heath & Erik Woolgar	Tel: [phone]
St Brides Partners Ltd	PR - Charlotte Page & Isabel de Salis	Tel: [phone]

Notes to Editors

WideCells Group PLC

WideCells Group PLC is building an integrated stem cell services company, focused on making stem cell treatments accessible and affordable.  This is achieved through three divisions:

The Group has three divisions:

·     CellPlan: the world's first stem cell healthcare insurance plan with financial cover for medical treatment, travel and accommodation expenses and concierge service to manage the treatment process.

·     WideCells: The Institute of Stem Cell Technology has been established and is based in the University of Manchester Innovation Centre to provide stem cell storage services and focus on stem cell research and regenerative medicine. Its international cryogenics division specialises in stem cell storage, with the Group currently offering umbilical cord blood and tissue storage services to clients in the UK and Europe under the brand name BabyCells.

·     Wideacademy: an education and training division to promote awareness of the benefits of stem cell storage across the global general practice community.

The Group has built an experienced senior management team that has been integral to the development of its growth and business to date.

Stem Cell Fast Facts:

·     Cord blood (which is taken from the umbilical cord) provides the most effective source of stem cells for families due to it being simple, safe and painless to collect relative to other sources of stem cells such as bone marrow - WideCells will focus on promoting the collection and storage of cord blood.

·     Since 2005, there has been a 300% increase in the number of illnesses that can be treated using stem cells.

·     100 illnesses can currently be treated using umbilical cord blood stem cell procedures.

·     Despite initial storage often costing no more than a few £thousand, actual treatment can cost in the £hundreds of thousands

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR). On publication of this announcement, this inside information is now considered to be in the public domain.

 

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