Cord Blood America, Inc. (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 Biocordcell Argentina S.A., headquartered in Buenos Aires, its stem cell storage company which services South America and Miami, Florida, has begun storing bone marrow stem cells prior to transplantation in treatments for cancer.
"The storage is short term, for three months or less, and it is done at a hospital in Buenos Aires," said Diego Rissola, President of BioCells Argentina. "It is important since it diversifies our revenue stream, contributes to the fight against cancer, and emphasizes the quality and reputation of our storage company."
"We are pleased to see our international companies be aggressive in increasing revenues and in utilizing new ideas to promote gross profits," said Matthew Schissler, Cord Blood America CEO and co-founder. "Diversification of revenues has been one of our three pillars of success for the last two years. In that time CBAI's group of companies have launched placental stem cell collection services, whole umbilical cord tissue collection services, dental pulp stem cell storage services, and now bone marrow stem cell storage services. These services have partly contributed to our increase in revenues, as reported in our last two Form 10Q filings with the United States Securities and Exchange Commission, including the 61% year over year revenue increase reported for second quarter 2011."
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