WideCells Group PLC announced it will launch its stem cell healthcare insurance plan in Spain following the product’s debut here in the UK and alongside its imminent roll-out in Brazil.
The local agent for the CellPlan, which costs £170 a year, will be a company called Stem Cell Banco Celulas Madre, a provider of stem cell storage services. Under the re-seller model, the tie-up should generate £50 per sale (after commissions and reinsurance costs).
READ: WideCells ready to ink deal that expands its reach to the Middle East, Africa and Asia-Pacific
In the same stock market announcement, WideCells confirmed its CellPlan e-commerce platform is now “fully live” in the UK. It is expected to be available in Spain by the end of the year.
"The Spanish cord blood and stem cell storage market is one of the most established in Europe and accordingly is a highly prospective region for us,” said chief executive João Andrade.
“Having successfully launched our CellPlan product in the UK, and with sales due to commence in Brazil in the near term, we now have an established framework and roll-out model which enables us to target new geographies quickly and with relatively low cost.”
On Wednesday, the company inked a deal that will take it and its stem cell services into the Middle East, Africa and Asia-Pacific regions.
The company is a specialist in the storage of stems cells from the umbilical cord, which could provide a potentially life-saving treatment for 82 blood-borne diseases, including leukaemia and lymphoma. The storage and research operation is the core WideCells business.
It has also developed the aforementioned insurance plan that will allow people to pay for treatments using the umbilical material, which already now making money for the firm.
Alongside that it is creating a software platform that both educates and keeps medical professionals and parents up to date on new treatments and developments.