Amag Pharmaceuticals Inc. (Nasdaq: AMAG) is buying GTCR’s Cord Blood Registry for $700 million.

Headquartered in San Bruno, California, Cord Blood enables families to preserve blood cells and tissue from a baby’s umbilical cord for the family’s potential future medical use. The business also partners with institutions to establish U.S. Food & Drug Administration-regulated clinical trials for medical conditions that don’t yet have cures.

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