TIDMWDC
RNS Number : 3848T
WideCells Group PLC
12 October 2017
12 October 2017
WideCells Group PLC ('WideCells Group' or 'the Group')
CellPlan expansion into Spain and e-commerce platform launched
to all families in the UK
WideCells Group PLC, the healthcare services company focused on
providing stem cell services and ground-breaking insurance for stem
cell treatment, is pleased to announce that its 100% owned
subsidiary CellPlan Limited ('CellPlan') is set to launch its
first-of-its-kind stem cell healthcare insurance plan and medical
concierge service in Spain, marking the Company's landmark
expansion into a new geographic region. Alongside this, the Group
is pleased to confirm that its CellPlan e-commerce platform is now
fully live in the UK, meaning that CellPlan is now available to buy
nationally.
Highlights
-- CellPlan to be launched in Spain by the end of 2017
-- Commercial roll-out and sales to commence via commercial
agreement with storage facility and launch of e-commerce platform
enabling maximum market penetration
-- Definitive Agreement signed to roll-out CellPlan to clients
of Stem Cell Banco Celulas Madre, S.A. ('Stem Cell'), an
established provider of stem cell storage services, which has been
in operation for over ten years
o Stem Cell has leading storage facilities in Spain and is also
a member of the Regenera Swiss AG group, which provides exposure to
and affiliation with other European facilities, particularly in
Germany
o Approximately 2,000 stem cells are currently stored by Stem
Cell - both new and existing clients will be able to purchase
CellPlan with product launch targeted by the end of the year
o Agreement marks CellPlan's third commercial agreement with a
cord blood storage facility, building upon current agreements
secured in the UK and Brazil
-- E-commerce platform to be launched in Spain by the end of
2017 enabling families / prospective clients to purchase CellPlan
directly
o Spain is one of the most established cord blood and stem cell
storage markets in Europe - launch of platform enables CellPlan to
rapidly target this significant market
o Platform facilitates mass market penetration and global roll
out with limited cost
-- E-commerce platform now fully live in the UK, enabling
families that have stored stem cells in facilities the UK to
purchase CellPlan directly from the company, creating greater sales
opportunities
-- The reference price of the CellPlan product is GBP170 per annum
o Under its reseller model CellPlan will generate an average of
GBP50 balance from each sale, after disbursements, commissions and
reinsurance costs
o Greater margins are available from sales generated via the
e-commerce platform
o The gross premium will be adjusted to the Spanish market ahead
of product launch
-- Additional agreements in the pipeline to further build global reach
WideCells Group CEO, João Andrade, said, "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.
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.
"Our e-commerce platform has been built for global roll-out and
with many people in the UK and Spain already opting to store cord
blood, we believe there will be strong demand for our CellPlan
product, which our platform will help us capitalise on, regardless
of whether we currently have a commercial agreement with the
facility in which they choose to store their cord blood. We are
accordingly delighted that the platform is now fully live in the UK
and look forward to launching it in Spain later this year.
Alongside this, we are delighted to have secured a strategic
agreement with Stem Cell; having been in operation for over ten
years Stem Cell is arguably at the fore of the Spanish stem cell
storage market and provides us with a strategic growth opportunity
through which we can build our presence in-country. We look forward
to driving sales of our innovative stem cell insurance product, and
believe that our two-pronged partner and platform roll out approach
will help us achieve maximum global market penetration."
Stem Cell Director, Gabriela Villalba, said, "CellPlan is
especially important and of great value for clients in Spain, since
the current treatments available are mainly concentrated outside of
Spain. We are pleased to be the first company in Spain to offer
this great benefit to our customers."
About CellPlan
CellPlan is a completely unique and a first of its kind
insurance product that aims to transform the stem cell industry by
making stem cell treatment affordable and accessible globally.
Through an average cost of GBP170 per annum, families that have
stored their stem cells are able to protect themselves from the
often-unforeseen costs of treatment, which can be as much as
GBP300,000.
This product offering comprises four primary services:
-- "Your Expert Consultation" service, which comprises a panel
of experts in stem cell transplantation who are able to review a
patient's case regardless of where he is in the world and provide
the right diagnosis and the right treatment plan;
-- "Your Medical Certainty", which provides a comprehensive
summary of the patient's case and identifies a selection of
treatment centres where the patient can access treatment
globally;
-- "Your Global Resource", which is a medical concierge service,
whereby CellPlan handles the full treatment process, including any
travel requirements, hospital admission and transportation of the
stem cell sample, allowing patients to concentrate on getting well;
and
-- "Your Family protection", where CellPlan provides cover of
GBP/$/EUR1m (sterling, dollars or euros) - depending on the
location - of medical, travel and accommodation bills.
Marketing Plans for CellPlan to Stem Cell Customers
CellPlan and Stem Cell have worked together to design a
multi-faceted marketing strategy focused on driving sales of
CellPlan to both parents that have stored their baby's stem cells
at Stem Cell's facility, as well as expectant parents. The proposed
plan includes a mix of marketing channels and tools, and focuses on
engaging with a Stem Cell customer at strategic points throughout
their customer journey, as well as commercial activities such as
sponsorships, training, social media and trade fairs
participation.
Existing Stem Cell customers will be contacted to purchase
CellPlan. New customers that enquire through Stem Cell's website
will be targeted through digital mailings that will range from a
mix of standard and special campaigns. For each mailing strategy
Stem Cell will suggest the target segmentation variables and Stem
Cell will send key performance indicator reports that will enable
CellPlan to determine the success of each campaign. The marketing
strategy will be implemented by Stem Cell customer relationship
management and CellPlan will be promoted on both companies'
websites and via Call Centre functions.
CellPlan's role is to support and further develop Stem Cell
marketing efforts through its cord blood storage facility and to
provide them with strategies, assets and necessary training for the
sale of CellPlan non-insurance component products, and endorsement
of CellPlan insurance products. To achieve this, CellPlan's
marketing department will, in collaboration with Stem Cell, build
on existing frameworks, always respecting regulatory laws and brand
guidelines where applicable, and address sales objectives to
maximise market penetration and revenues.
The teams are now implementing the final details ahead of
product launch in November 2017.
**S**
For further information, please visit the Company's website
www.widecellsgroup.com, follow us on Twitter @WideCells_Group or
contact:
WideCells Group CEO - João Andrade Tel: +351 919
033 171
------------------- ------------------------- --------------
Smaller Company Broker - Jeremy Woodgate Tel: +44 (0)
Capital Ltd & Rupert Williams 20 3651 2912
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Shard Capital Broker - Damon Heath Tel: +44 (0)
Partners LLP & Erik Woolgar 207 186 9950
------------------- ------------------------- --------------
St Brides Partners PR - Charlotte Page Tel: +44 (0)
Ltd & Olivia Vita 20 7236 1177
------------------- ------------------------- --------------
WideCells Group PLC is building an integrated stem cell services
company, focused on making stem cell treatments accessible and
affordable. In June 2017, the Group was ranked as the 21st most
disruptive company globally by DISRUPT 100, an annual index
celebrating the businesses with the most potential to influence,
change or create new global markets.
With this in mind, it has created three divisions:
-- CellPlan: the world's first stem cell healthcare insurance
plan with financial cover for medical treatment, travel and
accommodation expenses and concierge service to manage the
treatment process
-- WideCells: the Institute of Stem Cell Technology has been
established and is based in the University of Manchester Innovation
Centre to focus on stem cell research and regenerative medicine.
WideCells also has international cryogenics divisions specialising
in stem cell storage.
-- WideAcademy: developing an education and training division to
promote awareness of the benefits of stem cell storage across the
global general practice community.
The Group has built an experienced senior management team that
has been integral to the development of its growth and business to
date.
Stem Cell Fast Facts:
-- Cord blood (which is taken from the umbilical cord) provides
the most effective source of stem cells for families due to it
being simple, safe and painless to collect relative to other
sources of stem cells such as bone marrow - WideCells will focus on
promoting the collection and storage of this.
-- Since 2005, there has been a 300% increase in the number of
illnesses that can be treated using stem cells
-- 82 illnesses can currently be treated using stem cell procedures
-- Despite initial storage often costing no more than a few
GBPthousand, actual treatment can cost in the GBPhundreds of
thousands
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014
(MAR).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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