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Stemade Biotech enters into a strategic tie-up with Cholamandalam to provide “Bio-Insurance” in Chennai
Through this tie-up, Stemade Biotech will provide all training, technical, logistics and product related services to Cholamandalam and its customers. On the other hand Cholamandalam will take all the necessary inputs provided by Stemade and educate their customers of the Murugappa group including those (Vendors/Customers) on the benefits of Dental Stem Cell Banking that will help further awareness of the concept. This transaction is the first in a series of carefully planned internal and external moves to position Stemade Biotech as the first and only private dental stem cell bank in the country. Starting up its operations in late 2010, the company in the span of 10 months has been able to enter into a strategic tie-up with CDSL. STEMADE in its stride to attain success plans to open ten more offices in various cities by this fiscal-end and a major launch in Singapore. Speaking at the occasion, Mr. Shailesh Gadre, Founder and Managing Director, Stemade Biotech Pvt. Ltd said, “Our key focus is to secure a family’s future and to be aware of a concept like Dental Stem Cell Banking. It is Stemade’s endeavor to take this concept to as many households as possible. With Chola’s reach, strong customer relationships and understanding of the ‘Insurance product’ segment, we believe that many more customers will be able to benefit from this concept. We thank Cholamandalam for partnering with us to meet the future needs of their customers.” Mr. D. Arulselvan, Chief Financial Officer, Cholamandalam Investment & Finance Company Ltd said “As an organization with strengths across the financial space, this tie-up with Stemade will enable us to offer Bio Insurance to our customers. We will work together with Stemade to provide the necessary reach to take this unique product to the multiple customer base of CDSL / Murugappa group. Mr.BC Vengadachalam Head CDSL said “To Be One Stop Shop For All Financial Needs Of The Customer” As a leading financial distributor in India we will take all the necessary inputs from Stemade … Educate our customers about this new concept explain the benefits in detail, provide all information and get the best out of this. We are looking at a win win situation for our customers,Stemade and CDSL We have close to 5 lacs customers within the Murugappa group (incl.our vendors/Customers) which can help us to penetrate the market with ease. About: Stemade Biotech Pvt. Ltd Stemade Biotech is pioneering Dental Stem Cell Banking in Asia. The company is India's first private dental stem and are proud to have introduced the path breaking concept of "Dental stem Cell Banking" in India. Stemade’s commitment and endeavor is to ensure that the stem cells are collected, processed and preserved at international quality standards & guidelines. They have an exclusive non revocable license of patented technology from INSTITUT CLINIDENT, France for dental stem cell banking in Asia. In India they have setup their state of art dental stem cell processing and cryopreservation facilities at lab of LifeCell International - India’s largest cord blood bank In a short span the company has established their presence in 6 metros (Mumbai, Delhi, Bangalore, Chennai, Pune and Hyderabad) across India. 6 new cities will be added by 2012 and communication is in progress to start operations in Singapore and Middle East in near future About: Cholamandalam Investment and Finance Company Limited (CIFCL) Cholamandalam is a pan-Indian, composite financial services provider. It comprises the parent company, Cholamandalam Investment & Finance Company Limited (CIFCL), and its subsidiaries Cholamandalam Distribution Services Limited and Cholamandalam Securities Limited. The shares of CIFCL are listed in the Bombay Stock Exchange Ltd. and National Stock Exchange of India Ltd. Cholamandalam Investment and Finance Company Limited (CIFCL) Cholamandalam Investment & Finance Company Limited (CIFCL) was incorporated in 1978 as the financial services arm of the Murugappa Group. The Company that commenced business as an equipment financing company has now emerged as a comprehensive financial services solution provider that offers vehicle finance, business finance, home equity loans, stock broking and distribution of financial products to its customers. The Company operates from over 300 branches across India with assets under management over Rs.9000 Crores. The subsidiaries of Cholamandalam include Cholamandalam Securities Limited (CSec) and Cholamandalam Distribution Limited (CDSL) For Further Details Contact
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