Cord Blood America, Inc. (CBAI), the umbilical cord blood stem cell preservation company focused on bringing the life saving potential of stem cells to families nationwide and internationally, announced that Stellacure, GmbH, its stem cell company headquartered in Hamburg, Germany, has entered into an agreement with a licensee in Jordan to open an umbilical cord blood stem cell company in that Middle East nation.
Jordan, with a population of five million, is noted for its advanced health care system and one of the highest standards of living in the developing world. It has more than 60 health care institutions and patients from numerous other countries travel to Jordan for their medical procedures.
Saif Darwazeh, CEO of the Jordanian licensee, states "Jordan is very pleased to work with such a reputable Bank and is looking forward to give its people the chance of storing their stem cells for a better tomorrow."
The agreement provides that Stellacure will assist in the development of the new company. "When we purchased a 51 per cent share in Stellacure, we envisioned expansion into other nations in Europe and into the Middle East. This is exactly what is happening and we are very pleased with this agreement. I look forward to our growth and expansion in the Middle East" said Matthew Schissler, Cord Blood America co-founder and CEO. Besides Germany, Stellacure also serves families in Spain and Italy. Cord Blood America, earlier in 2011, announced a minority investment in Stellacure's Spanish affiliate, VidaPlus, and is in discussion with its Italian affiliate, VitaFutura, for a similar arrangement.
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.