A private firm, LifeCell, has announced the launch of its collection centre for umbilical cord stem cell banking. LifeCell has a stem cell processing and banking facility near Chennai. Other places where the collection centres have opened are: Chennai, Hyderabad, Bangalore, Ahmedabad, Mumbai, New Delhi, Kolkata, Kochi and Surat. According to the Chief Executive Officer (CEO) of LifeCell, Mr S.Abhay Kumar, cord blood which is discarded after child birth is a rich source of stem cells, which can be harvested and cryo-preserved to be used for treating more than 75 serious ailments, including cardiac diseases.