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 Biocordcell Argentina S.A. (BioCells, Inc.) is opening a new franchise headquartered in Campinas, Brazil, a city of more than one million in the state of Sao Paulo.
"BioCells is confident that this franchise will open 20 offices in its first year. We are very pleased with this expansion and this allows us to diversify our revenue stream and to bring the insurance policy of storing stem cells at birth to more people in South America," said Diego Rissola, President of BioCells, Inc.
Cord Blood America purchased 50.1 percent, or controlling interest, in BioCells, Inc. in September 2010. "BioCells has been a great success, accounting for approximately thirty percent of our revenues in the third quarter of 2011, and we salute their efforts to continue to grow," said Matthew Schissler, Cord Blood America CEO and co-founder.
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