Cord Blood and its loaner, Bergen Community Regional Blood Centers, reached an agreement to cancel a quarter million dollar of debt, plus its interest. In only six payments, the company paid off the entire debt using cash flow and money from private investors.
Matthew Schissler, CEO of Cord Blood, commented that the agreement will allow Cord Blood to have additional funds, and also affirms the company’s financial soundness. He plans to retire more debt, and begin growing the company through “intelligent, organic growth, accretive acquisitions, pushing towards being cash flow positive and de-levering the balance sheet.”
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