Cord Blood America Says Placenta Collection Services Increasing Revenues in Third Quarter; July 2010 Top Month in Year; BioCells, Inc. Acquisition Proceeding to September Closing
LAS VEGAS, Sept. 1 /PRNewswire-FirstCall/ — Cord Blood America, Inc. (http://www.cordblood-america.com) (OTC Bulletin Board: CBAI), the umbilical cord blood stem cell preservation company focused on bringing the life saving potential of stem cells, a biological insurance policy, to families nationwide and internationally, said today that placenta collection services in the third quarter of 2010 for a well-respected, accredited, tissue bank have increased by 40 percent so far compared to the second quarter of 2010, to a total of more than $35,000 in revenues through July and August of 2010.
“Although the numbers represent approximately only 5% of our total revenues, the trend is absolutely positive and we believe this is proving to be a significant contributor to diversifying our revenue stream,” said Chairman, CEO and co-founder Matthew Schissler.
“Also, we can report to our shareholders that overall sales in July 2010 were the best month so far in 2010,” Mr. Schissler said.
Finally, Cord Blood America’s co-founder said the projected date for the closing of the purchase of BioCells, Inc., headquartered in Argentina, with affiliates under development through South America, is now mid-September. BioCells, one of the largest stem cell companies in South America, is profitable with revenues expected to top $1.2 million (USD) in 2010.
About Cord Blood America
Cord Blood America 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., visit our website at http://www.corcell.com/. For investor information, visit http://www.cordblood-america.com/.
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SOURCE Cord Blood America, Inc.