LAS VEGAS, Dec. 8, 2010 /PRNewswire-FirstCall/ -- 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, today announced that it has signed a letter of intent to purchase Cryo-Cell Mexico, which is Mexico's largest stem cell storage company.
Cryo-Cell Mexico (www.cryo-cell.com.mx) operates in 32 states in Mexico. Cryo-Cell Mexico has 74 points of sale, including offices in some hospitals, more than 70,000 samples in storage at present and its market share, number one in Mexico, dominates all of its competitors. The acquisition, when completed, means that Cord Blood America will control over 100,000 customers internationally, and expects its combined revenues to be in the $14M range annually if all businesses continue the same sales rate.
Cryo-Cell Mexico has averaged over 8,000 new customers per year, for the last three years.
"We're happy. Today is a red letter day in CBAI's history. We told our shareholders that acquisitions are one of the key ways to grow our Company. This acquisition would add a major stem cell collection company, with an excellent reputation and operations, to the Cord Blood America family of companies," said Matthew Schissler, co-founder, CEO and President. "We will keep our shareholders apprised of the progress of this acquisition as it moves forward. We will focus all of our efforts on bringing this to a successful close."
Further commenting about being acquisitive, Mr. Schissler added, "Day-to-day conversations are ongoing, regarding acquisition opportunities. It's a sign that the industry is consolidating and an effort that we are committed to staying front and center on."
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/.
SOURCE Cord Blood America, Inc.