18-year deposit
Only a few thousand Romanians choose to invest around €1,000 in a personal stem cell deposit, namely stem cells plucked from umbilical cord blood, stored at low temperatures, which can be used to treat blood diseases. Market’s top players expect the industry to grow, following the western markets pattern.
“We predict an increase by 100%. The market will probably reach its peak within 3-5 years, up to 150-200,000 collections, which would account for 10% of total childbirths in Romania”, Marius Calomfirescu (photo), managing director of stem cell bank Biogenis told Wall-Street.
The company he heads, that has a partnership with Memorial Hospital Warsaw, where the stem cells are stored, is expected to triple sales to €2.4 million. “This year we will put in place organizational development programs, as we invested massively in infrastructure, as well in the opening of a storage location in Bucharest”, said Calomfirescu.
A client spends an average €1,000 for the collection, processing and storage of stem cells that will be preserved until the child reaches the age of adulthood. Prior to that, the parents have full rights over the stem cell line, and if the company that carried these procedures will not be on the market by then, the cells will be stored further by a third company.
With a median income of €300, these services are clearly geared towards high-earning Romanians, who should also be well informed on the procedures and advantages of stem cell collection. Managing director of Biogenis says clients come from various categories, and are interested in multiple services, including the payment on installment system. “Most of them however, earn higher than average, have higher education level and benefit of premium services”, said Marius Calomfirescu. On the other hand, there are solutions even for the cash-strapped persons: payment in installments and partnerships with financial institutions that make these services more affordable.
Head of Biogenis considers tapping the corporate segment this fall – offers to companies and their employees, with custom-tailored services. “The market is growing and we will have to diversify our services to lure clients. On a medium term, we expect up to 10 licensed companies in the field, half of which with local storage facility”, said Calomfirescu.
“We predict an increase by 100%. The market will probably reach its peak within 3-5 years, up to 150-200,000 collections, which would account for 10% of total childbirths in Romania”, Marius Calomfirescu (photo), managing director of stem cell bank Biogenis told Wall-Street.
The company he heads, that has a partnership with Memorial Hospital Warsaw, where the stem cells are stored, is expected to triple sales to €2.4 million. “This year we will put in place organizational development programs, as we invested massively in infrastructure, as well in the opening of a storage location in Bucharest”, said Calomfirescu.
A client spends an average €1,000 for the collection, processing and storage of stem cells that will be preserved until the child reaches the age of adulthood. Prior to that, the parents have full rights over the stem cell line, and if the company that carried these procedures will not be on the market by then, the cells will be stored further by a third company.
With a median income of €300, these services are clearly geared towards high-earning Romanians, who should also be well informed on the procedures and advantages of stem cell collection. Managing director of Biogenis says clients come from various categories, and are interested in multiple services, including the payment on installment system. “Most of them however, earn higher than average, have higher education level and benefit of premium services”, said Marius Calomfirescu. On the other hand, there are solutions even for the cash-strapped persons: payment in installments and partnerships with financial institutions that make these services more affordable.
Head of Biogenis considers tapping the corporate segment this fall – offers to companies and their employees, with custom-tailored services. “The market is growing and we will have to diversify our services to lure clients. On a medium term, we expect up to 10 licensed companies in the field, half of which with local storage facility”, said Calomfirescu.