SANTA MONICA, Calif., Sept. 18 /PRNewswire-FirstCall/ -- Cord Blood America, Inc. (OTC Bulletin Board:
CBAI -
News), the umbilical cord blood stem cell preservation company (
http://www.cordblood-america.com) focused on bringing the life saving potential of stem cells to families nationwide and internationally, now celebrating the sixth anniversary of its founding, said today it has grown from 16th largest company in the sector to fourth largest in the United States during this period.
"Strategic organic growth, combined with three accretive acquisitions, has allowed Cord Blood America to grow into the top tier of companies providing this important service," said Matthew Schissler, founder and CEO. "We bought Cryobank for Oncologic and Reproductive Donors, Inc., in New York, in January 2006, CorCell, a much larger company than ours, headquartered in Philadelphia, in October 2006, and CureSource in South Carolina in August 2007, thereby fueling our growth."
Mr. Schissler said the Company has become much "smarter" in its operations over this time period, improving margins from 34 to 51 percent within the last 12 months. "Our strategy for the next six years is to be very prudent, but also very aggressive, with continued acquisitions both domestically and internationally. We are in the midst of due diligence on several very interesting potential deals."
"The strategy is in place to grow Cord Blood America out of the number four spot to go higher in the sector," the Company's founder said. "We are especially interested in expanding the North American market through our health insurance partnership model, while vigorously investigating the international market, where the saving of umbilical cord blood stem cells is just beginning to be understood as a wise, safe, and sound insurance policy for the child." Cord Blood America already has a subsidiary in Greece, which has announced it is examining expansion in Europe, including in Germany.
"This is a very dynamic industry. Our first six years have not been without its share of challenges but we have learned a tremendous amount and our growth has provided us a solid foundation for which we intend the next six years to be even more successful," Mr. Schissler said.
About Cord Blood America
Cord Blood America (OTC Bulletin Board: CBAI - News) is the parent company of CorCell, which facilitates umbilical cord blood stem cell preservation for expectant parents and their children. Its mission is to be the most respected stem cell preservation company in the industry. Collected through a safe and non-invasive process, cord blood stem cells offer a powerful and potentially life-saving resource for treating a growing number of ailments, including cancer, leukemia, blood, and immune disorders. To find out more about Cord Blood America, Inc. (OTC Bulletin Board: CBAI - News), visit our website at http://www.corcell.com. For investor information, visit http://www.cordblood-america.com.
CONTACT: Paul Knopick E & E Communications 949/707-5365 pknopick@eandecommunications.com
