Cook Group Acquires Biotech Company

BLOOMINGTON, Ind. (AP) -- Medical-device maker Cook Group has bought an Indianapolis company that specializes in cell and tissue processing and cryopreservation technologies.

Bloomington-based Cook didn't disclose what it paid to acquire General BioTechnology, which also runs an umbilical cord blood and tissue bank for individuals and a reproductive tissue bank.

Cook Group vice president Neal Fearnot tells The Herald-Times (http://bit.ly/HxX3x5) that the acquisition will allow the some 20 employees of General BioTechnology to continue that work while utilizing Cook's resources and support. Cryopreservation is low-temperature storage of a living organism so it can later be revived and restored.