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WideCells inks “seminal” stem cell insurance partnership agreement

Smart Cells will offer CellPlan insurance to all of its 60,000 clients across multiple geographies
stem cell
The roll-out will start in Spain and the UK to begin with before going worldwide

WideCells Group PLC’s (LON:WDC) stem cell healthcare insurance subsidiary, CellPlan, has signed a partnership agreement with international stem cell extraction and storage company, Smart Cells.

Under the terms of the deal, Smart Cells will offer CellPlan insurance to its 60,000 clients across Europe, Africa, Asia the Middle East.

The staged roll-out will begin in Spain over the next four weeks, followed by the UK before expanding around the world.

READ: WideCells reshuffles board

CellPlan already has operations in place in Spain and the UK, allowing the company to start making stem cell insurance sales soon.

“We are delighted to be working closely with Smart Cells, which is a well-established and respected global company, to enhance its offering with our unique stem cell treatment insurance plan and increase CellPlan's own profile worldwide,” said chief executive João Andrade.

“This is a seminal deal for CellPlan, in line with our corporate strategy focused on building revenue growth and delivering accessible and affordable cell treatments to more people.”

Stem cell collection and storage generally cost a few thousand pounds, but stem cell treatment can often cost hundreds of thousands.

As a result, stem cell treatment has only really been available to high net worth individuals. With its insurance plan, WideCells is aiming to open up the market to everyone.

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April 18 2019

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