The Hindu Business Line : Cryobanks offers finance option for cord blood banking

Hyderabad, April 30 Cryobanks International India, which offers umbilical cord blood stem cell banking, has introduced finance option for parents who want to preserve umbilical cord blood.

The cost of preserving the blood for 21 years is over Rs 75,000 and eight different finance schemes are being offered by Cryobanks, its Marketing Head, Mr Ghazi Aasim, told newspersons here on Thursday.

“The period of easy instalments can be chosen as per the comfort of the parents,” Mr Aasim said.

The interest rate would begin with 6.5 per cent and goes upward depending on the scheme.

Cryobanks, which has set up a modern stem cell processing and banking facility in Gurgaon, has a capacity to store two lakh units while current enrolments stood at 8,000.

Investment

“We have so far invested Rs 40 crore in setting up the facility and for meeting other variable and invariable costs. In tune with the demand we are ready to expand,” he said.

Dr Mrinalini Chaturvedi, Medical Director, Cryobanks, said there was lot of need for educating the young parents on the advantages of cord blood banking.

“There were over 14,000 stem cell transplants in the world so far.

Cord blood can be useful in curing more than 75 disorders including leukaemia,” she added.

Cryobanks is operating collection centres in major cities and towns which would collect the cord blood at the time of delivery of a child which would be shifted to Gurgaon within 40 hours for safe preservation.

More Stories on : Medical Institutions & Hospitals | Andhra Pradesh

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