Yes, you can use α-MEM with phenol red but without HEPES to grow mesenchymal stem cells with slight modifications. Add sodium sulphtae and KCL (0.005%) for oH adjustment.
Minimum Essential Medium (MEM) α is widely used for mammalian cell culture as well as selection for transfected DHFR negative cells. MEM α can be used with a variety of suspension and adherent mammalian cells, including keratinocytes, primary rat astrocytes, and human melanoma cells. Life Technologies offers a variety of Gibco® MEM α modifications for a range of cell culture applications.