NYBC Will Now Provide 7,500 Critical Medical Procedures Annually in New York, New Jersey, Connecticut and Pennsylvania
October 10, 2013 / New York, NY – New York Blood Center (NYBC) today announced its acquisition of Coral Blood Services, a subsidiary of HemaCare Corporation. This purchase, the first acquisition of its kind for NYBC, will advance NYBC’s mission of providing innovative blood products and medical services to hospitals and patients in need throughout the Northeast.
Coral Blood Services provides more than 2,500 therapeutic apheresis procedures annually in New York, New Jersey, Connecticut and Pennsylvania. NYBC has a two-decade history serving as a mobile apheresis service, currently performing more than 5,000 procedures a year.
Apheresis, a critical treatment for many diseases, is a technique to separate whole blood into its components in order to isolate certain parts for removal and return the rest to the patient. It is a critical treatment for many diseases. The process is also used to collect life-saving components like stem cells for transplantation.
“With our acquisition of Coral Blood Services, we hope to leverage our combined strengths to better serve our partner hospitals and their patients,” said NYBC President and CEO Christopher D. Hillyer, MD. “For the past month, we have been working with Coral to ensure a seamless transition for the hospitals and patients they serve. NYBC looks forward to incorporating the best practices of both organizations to ensure a high quality and customer-focused service for all of our hospitals and patients.”
In addition, NYBC and HemaCare signed an agreement under which NYBC will perform apheresis collections for HemaCare-directed donors. This allows HemaCare to further support the skilled, standardized apheresis collection services required for cell therapy and immunotherapy clinical trials of HemaCare’s rapidly growing list of BioResearch Products and Services customers.
Financial terms of the transaction were not disclosed. Coral’s 24 employees have been offered equivalent positions at NYBC.
“Our relationship with NYBC expedites HemaCare’s increasing focus on the rapidly growing global cellular and immunotherapy markets. Our budding BioResearch Products and Services division supports researchers and product developers along the entire continuum from preclinical R&D, through Phase I, II, and III clinical trials, to commercialization,” said HemaCare Chief Executive Officer, Pete van der Wal.
About New York Blood Center: New York Blood Center (NYBC) is one of the nation's largest non-profit, community-based blood centers. For almost 50 years, NYBC has been providing blood, transfusion products and services to hospitals serving more than 20 million people in New York City, Long Island, the Hudson Valley, New Jersey, and parts of Connecticut and Pennsylvania. NYBC is also home to the Lindsley F. Kimball Research Institute and the National Cord Blood Program at the Howard P. Milstein National Cord Blood Center, the world's largest public cord blood bank providing stem cells for transplantation. NYBC provides medical services and programs (Clinical, Transfusion, and Hemophilia Services) through our medical professionals along with consultative services in transfusion medicine. Please visit us on Facebook at www.Facebook.com/newyorkbloodcenter. Follow us on Twitter: @NYBloodCenter.
About HemaCare Corporation: HemaCare Corporation is a leading blood products and services company serving healthcare providers and the scientific community for over 35 years. HemaCare performs therapeutic apheresis services, provides human-derived primary blood cells and tissues for advanced bio-medical research, supports cell therapy clinical trials and commercialization with apheresis collections, and provides a wide range of consulting services in SOP development, personnel training, and quality and regulatory compliance.
HemaCare’s responsive, cost-effective, GMP/GTP-compliant apheresis collection services leverage our years of experience in apheresis collection, quality systems, fully integrated support infrastructure, and network of FDA-registered collection centers. HemaCare supports industry and academic organizations with apheresis collection services for preclinical research, clinical trials from Phase I through Phase III, and commercial cell therapy applications.
HemaCare’s BioResearch Products and Services division specializes in customized collection, isolation and testing of primary human blood cells and other biological products for research protocols. HemaCare's extensive registry of well-characterized repeat donors, and controlled procedures ensure a readily-available inventory of high-quality, consistent primary human cells and biological products for advanced bio-medical research.
The Company was founded in 1978 and is based in Van Nuys, California. It trades on the OTC Pink Market under the symbol “HEMA”.