Cord blood is usually discarded at birth but is rich in haemopoietic stem cells, which are increasingly used as an alternative to bone marrow for transplantation. Umbilical blood may also contain mesenchymal stem cells, which in future might be used to repair damaged tissues in a range of diseases such as strokes, heart attacks, renal failure, and diabetes.

Many countries established altruistic public banks of cord blood in response to the increasing need for haemopoietic stem cells for patients with leukaemia and genetic conditions.1 2 3 The limited coverage of these banks, together with the future potential for stem cell cures, led to the introduction of private autologous banking of both haemopoietic and mesenchymal stem cells from cord blood. However, many health professionals oppose private banking because of its speculative and commercial nature. Consumers face an array of providers with conflicting information on the usefulness of banked cord blood. We analyse the growing cord blood banking industry in the UK and the potential impact of Virgin Health Bank’s novel model that provides blood for both personal use and public banks.