Cord Blood America Reduces "Afford-A-Cord" Program Charges; New Buyers Anticipated
LAS VEGAS, May 12, 2011 /PRNewswire/ -- Cord Blood America, Inc. (www.cordblood-america.com) (OTC BB: CBAID), 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 is reducing the monthly payment in its unique "Afford-A-Cord" storage program from $29 a month to $19.
Afford-A-Cord reduces the initial cost of storing umbilical cord blood stem cells from $2075 to $495 plus medical courier service. The Afford-A-Cord program is offered as an additional payment option to the Company's long standing traditional payment programs. It accounted for four percent of the Company's revenues in the most recent fiscal year.
"The data tells the story. It was four percent of our revenues, and without a doubt, these families would otherwise not have bought cord blood storage at all. The Afford-A-Cord program is strictly designed to bring in new buyers that historically could not afford to store stem cells. By reducing the monthly fee even further, our expectation is that this program will become an even greater portion of our business portfolio," said Matthew Schissler, Cord Blood America co-founder and CEO.
"Parents and grandparents who realize the importance of storing a baby's umbilical cord blood stem cells, but who are strapped financially, still should have the opportunity to participate in this potentially live saving program," Mr. Schissler said. "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 and, with the lowering of the monthly fee, we hope to provide this service to more families whose financial situations are difficult in the current economy."
About Cord Blood America
Cord Blood America (OTC Bulletin Board: CBAID) 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 diseases, including cancer, leukemia, blood, and immune disorders. To find out more about Cord Blood America, Inc. (OTC Bulletin Board: CBAI), visit our website at www.corcell.com. For investor information, visit www.cordblood-america.com.
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SOURCE Cord Blood America, Inc.