- Are my units still safe?
- Why does the company no longer accept new units?
- Why did the company change its name?
- Who is the company’s owner?
- Where is the company located?
- Who is the company’s management?
- Will the contracts be changed?
Are my units still safe?
Yes, your units are safely cared for as always, this in accordance with all applicable contracts and agreements between Virgin Health Bank and you. The name change will not impact that.
Why does the company no longer accept new units?
The direction of the company was reviewed by its sole shareholder, the Qatar Foundation, this in light of its own evolving strategic priorities. It was then decided that the current business model of collecting cord blood would no longer fit with the overall imperatives of the life science arm of the Foundation and that the company should henceforth focus on servicing its existing customers only.
Why did the company change its name?
Following a shareholder decision to no longer accept new enrolments the company wanted to give itself a new name that emphasizes the storage aspect of the business, henceforth its sole object. Not having done so might have suggested that we continue to accept new clients. This would have been misleading. We wanted a clean break and chose a new name that signals just that.
Who is the company’s owner?
The ultimate shareholder continues to be the Qatar Foundation for Education, Science, and Community Development of the State of Qatar.
Where is the company located?
Qatar: We are located in the Qatar Science & Technology Park across from Education City and right next to the Qatar National Convention Center and Sidra Hospital. You are welcome to come by and visit us.
UK: The company’s registered office is in Reading, Berkshire. The stem cells units are stored in Plymouth.
Who is the company’s management?
Qatar: The board of directors is composed of three members: Dr. Hadi Abderrahim, Chair, Dr. Danny Ramadan, Prof. Alex Knuth. Dr. Hadi and Dr. Danny are employed with the Qatar Foundation, Prof. Alex is the head of Qatar’s National Center for Cancer Care and Research that is part of the Hamad Medical Corporation. All three board members have a science background or are scientists and many years of experience in this and related fields.
UK: The board of directors is composed of two members: Dr. Hadi Abderrahim, Chair, Dr. Danny Ramadan. Both have a science background and many years of experience in this and related fields.
Will the contracts be changed?
No, there is no need to change the contracts. The name change does not affect the validity of the contracts