WDC.L Share News (WDC)

(ShareCast News) - Stem cell banking healthcare services company WideCells Group announced on Monday that it has finalised the terms and conditions for CellPlan, the world's first stem cell healthcare insurance plan and medical concierge service, which was launched to cord blood banks in May 2016 at the World Cord Blood Congress in London.The London-listed firm also confirmed it has established offices in Porto, Portugal and made a number of staff appointments.CellPlan is designed to make treatment using stem cells collected from umbilical cord blood affordable and accessible to families worldwide, the board explained, adding it provides access to international stem cell specialists and hospitals and financial cover for up to €1m worth of medical, travel and accommodation expenses.It also said it has strengthened its operational team through the appointment of key professionals who have proven experience within the healthcare and insurance sectors to support CellPlan's active growth strategy as it looks to sign up international cord blood banks"CellPlan has the potential to revolutionise the stem cell industry and ultimately, to make access to potentially lifesaving treatments much more affordable," said WideCells CEO João Andrade."Having launched our product earlier this year in May 2016 we are delighted to have now finalised the insurance terms, which marks a crucial milestone in CellPlan's development and ultimate commercialisation."Andrade said the company's focus is now on securing the necessary licensing needed to roll-out the product, a process which he claimed is much quicker in Portugal than in some other markets."To support this process, we are delighted to have appointed a number of experienced healthcare and insurance professionals who have the requisite skill set and experience to lodge the necessary licensing applications and fuel the growth of our integrated stem cell services offering."This team will be based at our newly established offices in Porto, Portugal, which ideally positions the company to target the European stem cell market," Andrade said."Crucially, our team is working alongside a world class team of health care professionals who have renowned global experience."