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 to families nationwide and internationally, announced today that it has purchased a minority interest in Stem Cells VIDAPLUS, a Spanish-owned company which preserves umbilical cord stem cells at the Institute of Transfusion Medicine and Immunology of the Red Cross in Frankfurt, Germany.
"Headquartered in Madrid and founded in 2007, VIDAPLUS (www.vidapluscm.com) is one of the premier stem cell storage companies in Europe. The Spanish economy is rebounding and we believe this investment both gives Cord Blood America an increased presence in Europe and diversifies our revenue stream," said Matthew Schissler, Cord Blood America CEO and co-founder.
"The investment is organized in tranches that allows Cord Blood America to increase its stake in the Company over time including, eventually, taking a controlling interest," Mr. Schissler said. Cord Blood America previously announced it acquired 51 percent of stellacure GmbH in Germany, which also operates in conjunction with the German Red Cross.
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