LAS VEGAS and CHATTANOOGA, Tenn., March 28, 2011 /PRNewswire/ -- Cord Blood America, Inc. (OTC Bulletin Board: CBAI), announced today it has entered into an agreement with BlueCross BlueShield of Tennessee and is now offering the storage of umbilical cord blood at a discount rate as consistent with its other BCBS licensee contracts.
Total enrollment for BlueCross is 3 million, with more than half located in Tennessee. Members can also enroll in Cord Blood America's "Afford-A-Cord" program which allows for storage at a lower initial fee.
"Tennessee is in the forefront of educating pregnant women about cord blood banking options because of legislation passed in the state," said Matthew Schissler, Cord Blood America CEO and co-founder. "We are pleased that CorCell, our United States brand, can partner with BlueCross and offer these important, potentially life-saving services, to their members. We will also be offering courses to nurses and other healthcare professionals on the value of stem cell storage."
Schissler continued, "This agreement is a direct result of focus on organic growth for CBAI. BlueCross is extremely important to us, and we look forward to educating the medical community and families of Tennessee on the importance of cord blood stem cells, all while offering a discount because of our partnership with BlueCross."
Cord blood stem cells are used today to treat more than 70 diseases including leukemia, severe anemia, metabolic blood disorders and immune deficiencies, while research is ongoing to determine the usefulness of stem cells in combating some of the nation's most serious diseases, including diabetes, heart disease, Parkinson's and other diseases for which there is currently no cure.
BlueCross BlueShield of Tennessee offers its customers peace of mind through affordable solutions for health and healing, life and living. Founded in 1945, the Chattanooga-based company is focused on reinventing the health plan for its 3 million members in Tennessee and across the country. Through its integrated health management approach, BlueCross provides patient-centric products and services that drive health improvement and positively impact health care quality and value. BlueCross BlueShield of Tennessee Inc. is an independent licensee of the BlueCross BlueShield Association. For more information, visit the company's Web site at www.bcbst.com.
About Cord Blood America
Cord Blood America 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., visit our website at http://www.corcell.com/. For investor information, visit http://www.cordblood-america.com/.
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SOURCE Cord Blood America, Inc.