Vita 34 introduces entry-level pricing model ‘VitaPur’ and implements first cost reduction measures
DGAP-News: Vita 34 AG / Key word(s): Product Launch/Regulatory Approval
Vita 34 introduces entry-level pricing model “VitaPur” and implements first cost reduction measures
– New pricing model “VitaPur” for the development of price-sensitive market segment
– DFB goalkeeping coach Andreas Köpke becomes patron of Vita 34 fundraising week for official product launch
– Approval of Paul Ehrlich Institute to extend duration of logistics process as first part of cost reduction program
Leipzig, 17 May 2018 – Vita 34 AG (ISIN: DE000A0BL849, WKN: A0BL84), the second largest stem cell bank in Europe, will present its new pricing model “VitaPur” on the market tomorrow. The new product addresses price-sensitive customers with a new pricing structure and should help to systematically increase market penetration in the core markets of the DACH region.
Compared to the classic pricing models “VitaPlus” and “VitaPlusNabelschnur”, “VitaPur” is characterized by a significantly reduced upfront payment for the storage of umbilical cord blood. In return, the regularly recurring annual fees of this pricing model are higher. Specifically, the fees in the pricing model “VitaPur” consist of a one-time payment of 990.00 euros and an annual fee of 120.00 euros amount. “VitaPur” will exclusively include the storage of umbilical cord blood. In order to increase the number of publicly available preparations and thus the number of applications, tissue typing and entry in a public stem cell registry is obligatory, as with “VitaPlusSpende”, if suitably qualified. “On the one hand, VitaPur is very attractive to the customer due to the lower upfront payment, and on the other hand, the economic value for Vita 34 is even higher all things considered than in our classic pricing structures. We therefore expect that any cannibalization effects will at least be compensated by spill-over effects,” explains Dr. Wolfgang Knirsch, CEO of Vita 34. “By registering in our donations register, we want to strengthen public perception of the chances of storing umbilical cord blood.”
Therefore, the company launches the first Vita 34 donation campaign week for the product launch. Expectant parents in Berlin will be able to register for an umbilical cord blood donation by calling Vita 34 from 22 to 25 May. Subsequently, these preparations are then analyzed in the laboratories of Vita 34, processed and stored in the cryo-tanks of the company. From then on they will be available to the public as a potentially life-saving donation. As a patron of the donation campaign, Vita 34 was able to win Andreas Köpke, goalkeeping coach of the German national football team. The campaign is also supported by Berlin-based radio station “Spree Radio” as a media partner. “More than 97 percent of the valuable stem cells from umbilical cord blood still end up in hospital waste. The campaign is intended to help to make chances of umbilical cord blood storage more visible to the general population “, emphasizes Dr. med. Wolfgang Knirsch. “If successful, we want to carry out this campaign in other cities as well in the future.”
In addition, Vita 34’s application for a prolongation of the maximum permissible transport time of freshly drawn umbilical cord blood was approved. The responsible Paul Ehrlich Institute, the Federal Institute for Vaccines and Biomedical Drugs, has granted the approval to adapt the existing manufacturing regulations after extensive review of all submitted documentation and evidence. Thus, for Vita 34, the maximum permissible time between collection and storage of umbilical cord blood increases from the previous 48 hours to 72 hours in the future. If the previously valid 48-hour limit was exceeded, the storage of a preparation was only possible after additional examinations. Based on empirical documentation, Vita 34 has now provided proof that the logistics method used by the company also keeps the extracted blood in perfect condition for at least 72 hours.
“The granted approval allows us to structure our shipping and manufacturing process more cost-effectively overall,” explains Dr. Knirsch. “It’s a first step towards the sustainable cost savings we’re aiming for as part of our Vision 2021, and more will follow in the coming months. In addition, the launch of VitaPur marks an important milestone in penetrating our markets in the DACH region. This too is a central element of our vision 2021.”
Against the backdrop of a conservative planning process and expected ramp-up effects, the company’s Executive Board expects only limited effects of the aforementioned measures on revenues and earnings for the current financial year. Therefore, the company is maintaining its current outlook for the company’s performance in the 2018 financial year unchanged.
Phone: +49 (0341) 48792 – 0
Vita 34 was founded in Leipzig in 1997 as the first private stem cell bank in Europe and, as a complete provider of cryo-preservation services, offers collection, logistics, preparation, and storage of stem cells from umbilical cord blood and tissue. Stem cells are a valuable base material for medical cell therapy and are kept alive at temperatures of minus 180 degrees Celsius, in order to be available for use in a treatment if needed. More than 200,000 customers from Germany and 28 other countries have already provided for their children’s future with a stem cell deposit at Vita 34.
|Company:||Vita 34 AG|
|Deutscher Platz 5a|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|