The present invention provides a system and method for collection, storage and processing of tissues and cells. The system includes a collection container with chambers for storing and processing tissues, which are controllably separated and maintain a physiologic environment for the tissues. The system also includes a fluidic device for isolating target cells of interest. The method includes receiving the tissue into a collection chamber, transferring the tissue to a processing chamber, dissociating the tissue into single cells, and passing the single cells to a device for isolating one or more target cells.