May 26 2010
Cord Blood America, Inc. (http://www.cordblood-america.com) (OTC Bulletin Board: CBAI), announced today its stem cell processing and storage subsidiary, CorCell, is launching "Afford-A-Cord," which reduces the initial cost of storing umbilical cord blood stem cells from $2075 to $495 plus medical courier service. The Afford-A-Cord program will be offered as an additional payment option to CorCell's long standing traditional payment programs.
"We have for years heard that the biggest barrier to utilizing our service, and all others in the sector, is the upfront cost, which often comes at a time, with the birth of a baby, that a family can least afford it. Those pressures coupled with an uncertain economic environment make the decision to store much more difficult. I'm pleased to announce that Cord Blood America's financial position has improved to the extent that we can lower this cost and serve those with limited cash reserves," said Matthew Schissler, Cord Blood America co-founder and CEO.
"We believe that providing a variety of flexible payment plans is paramount to obtaining a greater market share in the industry. No other company offers such a low entry point, one that will allow a greater number of families to store their child's stem cells. "We know that having a baby involves a lot of expenses. That is why CorCell is minimizing the upfront fee and providing a financial vehicle that will fit most every budget and allow more families to take advantage of the potential medical advances from the use of stem cells. The monthly fee after birth is $29 for 18 years of storage, which is paid directly with electronic funds transfer."
Mr. Schissler said, "We have been working on the legal and accounting aspects of this program for many months. It is scheduled to launch on or before July 1, 2010 and we are very pleased to bring this program to American families." Cord Blood America's CEO said he is confident the program will add to the Company's revenue stream. "With the addition in the second quarter of 2010 of revenues from our company in Germany, we are expecting the best quarter for cord blood subsidiary sales in the Company's history."
"I need to stress that CorCell's current payment plans are still, and will continue to be, in full effect. The Afford-A-Cord program is an additional payment option designed specifically to attract consumers whose primary hurdle to cord blood stem cell storage has been the initial cost," Mr. Schissler said.
SOURCE Cord Blood America, Inc.
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