LAS VEGAS, March 25 /PRNewswire-FirstCall/ -- Cord Blood America, Inc. ( 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, said today that its revenues from its new acquisition, stellacure GmbH, are projected to top $1 million in 2010.
"This amounts to 20 to 30 percent revenue growth for CBAI," said Matthew Schissler, CEO and co-founder of Cord Blood America, who was interviewed by analyst Francis Gaskins. The complete interview is available at: http://gaskinsco.com/cbai-3-24-10.mp3. Mr. Schissler said the acquisition was financed through monies previously raised and targeted specifically for acquisitions.
Cord Blood America announced this week that it has acquired 51 percent of stellacure ( http://www.stellacure.com), headquartered in Hamburg, Germany, and the third largest cord blood banking service in that major European nation. stellacure operates in conjunction with the German Red Cross.
"This is absolutely the best company we could partner with, as a first step toward becoming a global leader in stem cell storage," Mr. Schissler said. "Their revenues were approximately $800,000 (U.S.) in 2009 and the German Red Cross, which also owns a portion of the company, is widely respected throughout Europe We believe this is one of the most significant stem cell storage companies in Europe and it already has begun to establish sales channels in Italy and Spain."
About Cord Blood America
Cord Blood America ( CBAI) through its wholly owned subsidiaries, CorCell Companies Inc. and Cord Partners, Inc., markets a service to preserve the umbilical cord blood in a patented process for future use exclusively by the donating family. Located in Las Vegas, Nevada, CBAI's mission is to become the world's largest stem cell storage facility through acquisitions, diversification and organic growth. To find out more about CorCell visit our website at www.corcell.com. For investor information visit Cord Blood America, Inc. at www.cordblood-america.com.
E & E Communications
SOURCE Cord Blood America, Inc.