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What happens when the stem cell bank goes bankrupt?

Date: 16 Feb 2016    Group: Opinion About    Category: Miscellaneous   

We store the cord blood cells of our newborn babies in stem cell banks. Stem cell banks are also commercial entities and they can go bankrupt any time. What happens if the stem cell bank in which we have stored our cells goes bankrupt? Will it be taken over by another entity?

Worried about a stem cell bank where you stored your baby's cord blood cells going bankrupt? Know from this Ask Expert page what would be done with the stored cells.

Author: Kailash Kumar    19 Feb 2016      Member Level: Platinum     Points : 2  (Rs 2)    Voting Score: 0

Stem cell banks are not like commercial banks which we see on the street. Here the word 'bank' denoted storage only. The stem cells are stored at minus 150 degree centigrade temperature after cryo-freeing the same. Annual storage fee is in the range of Rs. 4000 per annum and for long term i.e. 21 years the plan cost is in the range of Rs. 35000 to 40000. Thus the terminology 'bankrupt' is not applicable in such cases. However there may other types of hazards for which possible precautions and insurance coverage etc. are likely to be there.

Author: Mahesh    19 Feb 2016      Member Level: Gold     Points : 3  (Rs 3)    Voting Score: 0

Stem cell and sperm donor banks are usually protected with the backup for storing the content. So if by any chance financials affect the organization, in such case the transfer is made to another organization and the insurance policy takes care of the transfer. So basically when you pay for freezing DNA or other content or stem cells then you're in contract with them. And they pay for the future issues arises or have problem.

Govt organizations in stem cell and donor banks are usually monitored and controlled by government. So they don't have much issues with the financials or in case they go bankrupt.

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