GI Partners Announces Agreement to Sell Generate Life Sciences to CooperCompanies
SAN FRANCISCO, Nov. 10, 2021 /PRNewswire/ -- GI Partners, a leading private investment firm, today announced the signing of a definitive agreement to sell Generate Life Sciences ("Generate"), a leading life sciences platform that provides reproductive and newborn stem cell (umbilical cord blood and tissue) services, to CooperCompanies (NYSE:COO).
Generate Life Sciences was created by GI Partners in 2018 as the combination of California Cryobank Life Sciences, an industry-leading donor sperm and egg bank, and Cord Blood Registry, a leading provider of newborn stem cell services. The combined business became a key player in three highly complementary end-markets. Generate serves families from preconception to post-birth throughout the significant and highly personalized journey of building a family and protecting their children's health. Built upon the pillars of innovation, access, and connection, Generate has helped grow and protect nearly one million families globally.
Dave Kreter, Managing Director at GI Partners, said, "With the combination of these two leading companies we had a vision to create and build a platform that could address the personal desires of families' reproductive and stem cell needs. Over the past three years we have focused our efforts and expertise to further Generate's leadership and expand its suite of offerings. We would like to thank CEO Richard Jennings and his team for their partnership to build a leading life sciences company that serves customers in over 30 countries today."
Richard Jennings, Chief Executive Officer of Generate, added, "Generate helps families around the world benefit from an industry leading suite of reproductive, stem cell, and genetic services. Over the past several years, our company has transformed into a global organization supporting clients who want to create and protect healthy families. GI Partners has been instrumental in accelerating our growth in new markets and providing greater access to innovative science that promotes family wellness."
The transaction is subject to customary closing conditions and is expected to be completed in December.
About Generate Life Sciences
Generate Life Sciences Inc. is a life sciences company helping to grow and protect families through reproductive, newborn stem cell, genetic screening, medical device, and healthcare technology services. We serve families from preconception to post-birth. Our brands — CBR® (Cord Blood Registry®), California Cryobank®, Donor Egg Bank USA™, NW Cryobank®, ReadyGen®, Kitazato USA®, and Donor Application™ — are pioneering leaders that have helped nearly one million families. Headquartered in Los Angeles, Generate operates facilities in Tucson, New York, Boston, Palo Alto, and Rockville, MD. Generate is a portfolio company of GI Partners, a private investment firm based in San Francisco. For more information, visit www.generate.com.
About GI Partners
Founded in 2001, GI Partners is a private investment firm with over 100 employees and offices in San Francisco, New York, Chicago, Greenwich, and Scottsdale. The firm has raised over $29 billion in capital from leading institutional investors around the world to invest in private equity, real estate, and data infrastructure strategies. The private equity team invests primarily in companies in the healthcare, IT infrastructure, services, and software sectors. The real estate team focuses primarily on technology and life sciences properties as well as other specialized types of real estate. The data infrastructure team invests primarily in hard asset infrastructure businesses underpinning the digital economy. For more information, please visit www.gipartners.com.
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Gretchen Robinson
GI Partners
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SOURCE GI Partners
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