- Pharma & Healthcare
LifeCell Q1 revenue up 94%
Continues to increase market share and achieves a large base of 25,000 customers in India
LifeCell, India’s largest umbilical cord stem cell bank engaged in the collection and preservation of newborn stem cells from umbilical cord, reported 94% revenue growth during first quarter in 2010 over the first quarter revenue of 2009. This growth has been recorded significantly due to combination of substantial increase in market shares and capturing new markets. Another milestone achievement is that LifeCell surpassed 25,000 customers in India to become India’s most preferred stem cell bank maintaining its leadership position in the industry.
"This is an extremely impressive growth when viewed from the perspective that we are operating in a niche segment with low awareness and with increasing competition every year which was more intense in the past one year” said Mayur Abhaya, President & Executive Director.
He further added that “LifeCell has justified its undisputed leadership in the industry and we attribute this success to our strong brand image built over strategic initiatives and a strong customer satisfaction & delight.
As an innovative approach to the industry, LifeCell had roped in celebrity Icon Hrithik Roshan and his wife Sussane Roshan as brand patrons to promote the concept of stem cell banking. Having preserved their children’s stem cells with LifeCell, Hrithik’s endorsement as a client worked effectively in enhancing awareness.
The company’s operating margin has improved significantly by 560 basis points over corresponding quarter of previous year through operational efficiency and optimization of resources. Talking on the company’s financial status Mayur stated “LifeCell has no long-term debts and our operations are cash flow positive. This increases the company’s ability to expand operations, launch new services and further invest in R&D”
Looking forward LifeCell expects over 50% growth in its customer base with an overall 60% growth on revenues. The company has also witnessed that a significant number of customers are now choosing cord tissue banking along with cord blood banking.
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