WideCells Group PLC CellPlan launches E-Commerce Platform in the UK (6932L)
21 July 2017 - 4:00PM
UK Regulatory
TIDMWDC
RNS Number : 6932L
WideCells Group PLC
21 July 2017
21 July 2017
WideCells Group PLC ('WideCells Group' or 'the Group')
CellPlan launches E-Commerce Platform 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 delighted to announce that the e-commerce
platform of the Group's 100% owned subsidiary, CellPlan Limited,
will be made live today. The platform facilitates the purchase of
the Group's stem cell insurance product CellPlan and will be
launched initially in the UK, with potential to be rolled out to
international countries and include additional product offerings
over time. The platform can be accessed using the following link:
www.cellplan.com.
With the e-commerce platform live in the UK, CellPlan can now be
purchased by both new and existing customers of Biovault Technical
Ltd ('Biovault'). The platform enables the Group to target existing
customers, who can purchase the Group's stem cell insurance product
CellPlan directly from the company, whilst every new Biovault
customer automatically receives CellPlan for a 12 month period, the
cost of which is covered by Biovault as part of a Biovault package
to new storage customers. In addition to this, CellPlan is taking
its final steps in the upcoming weeks to make CellPlan available to
families that have stored stem cells in facilities which meet
standards adhered to by the programme (the 'Extended Provider
Network'). These families will be able to purchase CellPlan
directly from CellPlan Limited via the e-commerce platform, thus
creating a significant new revenue opportunity for the Group.
CellPlan enables individuals who have gone through the expense
of storing stem cells from umbilical cord blood to protect their
families against future illness by covering the high-cost of stem
cell treatment should it be required in the future. Through an
affordable insurance product, priced at on average GBP170 per annum
with worldwide coverage, customers can secure financial cover for
up to GBP1 million worth of medical, travel and accommodation
expenses and gain access to the best medical minds and treatment
centres globally. Customers will also have access to an expert
second medical opinion and a global concierge service. The
e-commerce platform facilitates the sale of this product; it
includes a quote and buy system that allows customers to obtain a
quote online, purchase CellPlan, and obtain all the relevant
documentation. Requisite checks will also be handled by the
platform.
On average, for every sale of CellPlan, WideCells Group will
receive GBP50 after disbursements, commissions and reinsurance
costs. CellPlan Limited will take a greater share of the margin for
sales generated from the Extended Provider Network given that no
commission payment will be required and that there will be a 15%
increase in the price charged to these clients.
WideCells Group CEO, João Andrade, said, "Our recent agreement
with Biovault paved the way for initial sales and maiden revenues
from CellPlan, and in launching this e-commerce platform our sales
and financial progress can only increase. This platform enables
families in the UK to purchase our innovative insurance product
directly, thus enabling us to target a very large market with
relatively minimal expenditure. This platform naturally has
expansion potential beyond the UK and I am hugely excited for the
Group as we continue to widen our reach, increase accessibility and
drive strong revenues."
**ENDS**
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
------------------- ------------------------- --------------
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
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Notes to Editors
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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