LAS VEGAS, March 24 /PRNewswire-FirstCall/ -- Cord Blood America, Inc. (OTC Bulletin Board: CBAI), the umbilical cord blood stem cell preservation company (http://www.cordblood-america.com) focused on bringing the life saving potential of stem cells, a biological insurance policy, to families nationwide and internationally, announced today that it has acquired 51 percent of stellacure GmbH, the third largest cord blood banking service in Germany.
"Europe is quickly becoming a global force in the storage of stem cells for future medical use. We believe this acquisition is a perfect example of our business strategy to use acquisitions as part of the process to grow Cord Blood America into a major stem cell storage company globally," said Matthew Schissler, Cord Blood America co-founder and CEO.
stellacure (www.stellacure.com) is headquartered in Hamburg, Germany. It began storing cord blood for families in 2006 throughout Germany, and within the past year has established sales channels in Spain and Italy. It operates in conjunction with the German Red Cross Bloodservices Baden-Wuerttemberg/Hessen, which has collected cord blood for a public bank since 1996.
"Becoming a 51% stakeholder of one of Europe's most meaningful stem cell banking companies is extremely important for us to carry out our goal of becoming the globally dominant stem cell storage company. We see acquiring a majority stake in stellacure as an important first step to further penetrate other European markets. CBAI is extremely pleased that it was chosen as stellacure's preferred partner to foster further growth of the company and equally excited to establish a long term relationship with the largest blood service unit of the German Red Cross, as we all know a respected name globally," Mr. Schissler said.
The transaction was introduced by specialist life sciences advisory firm CFP BioConnect AG, based in Frankfurt/Germany.
About Cord Blood America
Cord Blood America (OTC Bulletin Board: CBAI) 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. (OTC Bulletin Board: CBAI), visit our website at www.corcell.com. For investor information, visit www.cordblood-america.com.
E & E Communications
Some statements made in this press release are forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We use words such as "anticipate,'' "believe,'' "expect,'' "future,'' "intend,'' "plan,'' and similar expressions to identify forward-looking statements. These statements, including those related to the growth of the industry, new stem cell treatments, and the Company's performance, are only predictions and are subject to certain risks, uncertainties and assumptions. Additional risks are identified and described in the Company's public filings with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation to update any forward-looking statements to reflect occurrences, developments, events, or circumstances after the date of such statement.
SOURCE Cord Blood America, Inc.