LAS VEGAS, Jan. 6, 2014 /PRNewswire/ -- Cord Blood America,
Inc. (www.cordblood-america.com) (OTC Bulletin Board: CBAI) ("CBAI"
or the "Company") today announced it has achieved AABB
accreditation for cell therapy activity associated with cord blood
processing, storage and distribution.
"As we embark on the new year of 2014, I cannot think of a
better way to validate our operations and jump start our efforts
this year than to state publicly that we have earned our AABB
accreditation," said Joseph Vicente,
President of Cord Blood America, Inc. "This accreditation follows
an intensive on-site assessment by specially trained AABB assessors
and establishes that the level of technical and administrative
performance with our facility meets or exceeds the industry
standards set by AABB."
"We have publicized for the past six consecutive quarters our
ability to achieve positive cash flows while significantly reducing
expenses," added Joseph
Vicente. "Sometimes this creates a perception that we
were cutting our way to profitability. However, we can
emphasize in the conversation today that we were able to accomplish
this financial turnaround while concurrently making additional
investment in our core operations via people, technology, capital
goods and equipment."
The accreditation process consisted of a rigorous 12 month
internal process that required the company to examine not only
laboratory operations, but all functional units of its operations,
as well as how to combine all elements into a cohesive total
quality management system. The AABB accreditation program
assisted Cord Blood America in achieving operational excellence by
promoting a level of professional and technical expertise that
contributes to quality performance and patient safety.
Mr. Vicente continued, "We have always been confident in our
operational capabilities, however, as is the nature of our industry
and its competing members, our previous lack of a third party
validation that our operations meet and exceed the gold standard in
the industry was a competitive advantage used against us. Today, we
have achieved that validation, and simultaneously, further advanced
our industry competitiveness. We also readily
acknowledge that this accreditation process improved us in multiple
ways and we will leverage this experience as a springboard for
further advancements in our company."
"In closing, I would like to thank all of our dedicated
employees who were paramount to this achievement," said Mr.
Vicente. "We are a small group; but our talent, work
ethic and industry experience continues to increase both our
recognition and revenue opportunity within the industry. I am
proud to be associated with each member of our organization and
know that we will continue to push ourselves and our commitment to
increasing the value proposition to our shareholders and
customers."
About AABB
Established in 1947, AABB is an international, not-for-profit
association dedicated the advancement of science and the practice
of blood centers, transfusion medicine and related biological
therapies. The association is committed to improving health
by developing and delivering standards, accreditation and
educational programs that focus on optimizing patient and donor
care and safety. AABB membership consists of nearly 2,000
institutions and 8,000 individuals, including physicians, nurses,
scientists, researchers, administrators, medical technologists and
other health care providers. Members are located in more than 80
countries. For more information, please visit www.aabb.org.
About Cord Blood America
Cord Blood America, Inc. is the parent company of CorCell
Companies, Inc. which, along with Cord Blood America, Inc.,
facilitates umbilical cord blood and cord tissue stem cell
processing and storage for expectant parents and their
children. 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. and CorCell Companies, Inc., visit
our websites: http://www.cordblood-america.com/ for investor
information and http://www.corcell.com/ for customer
information.
Forward-Looking Statements
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 Cord Blood America Inc.'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.
Investor
Contact:
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Cameron
Donahue
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Hayden IR
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(651)
653-1854
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cameron@haydenir.com
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Web Site: http://www.cordblood-america.com
SOURCE Cord Blood America, Inc.