LAS VEGAS and MOUNTLAKE TERRACE, Wash., Aug. 18, 2011 /PRNewswire/ -- Cord Blood America, Inc. (OTC Bulletin Board: CBAI) today announced that it has entered into an agreement with Premera Blue Cross, a leading health plan provider with operations in Mountlake Terrace, Seattle and Spokane, Washington, and Anchorage, Alaska, and more than 1.4 million members, to store umbilical cord blood at a discounted rate consistent with other Blue Cross licensee contracts. The discount will also be available to members of Premera's affiliate health plans not associated with BlueCross BlueShield.
Premera Blue Cross, with revenues topping $3 billion annually, has a network of 27,000 healthcare professionals in Washington and Alaska and more than 2,800 employees. The service will be offered to Premera members as part of the company's "Extras!" discount program.
"This addition to our discount program provides members another tool to help them make informed healthcare decisions for themselves and their families," said Donald Storey, MD, vice president of medical services at Premera Blue Cross.
"We are pleased that CorCell, our United States brand, is partnering with BlueCross BlueShield programs across the country in offering our important, potentially life-saving services, to their members. We look forward to educating families in Washington and Alaska on the importance of storing cord blood stem cells at birth," said Matthew Schissler, Cord Blood America CEO and co-founder.
Cord blood stem cells are used today to treat more than 70 diseases including leukemia, severe anemia, metabolic blood disorders and immune deficiencies. Research is ongoing to determine the usefulness of stem cells in combating some of the nation's most serious diseases, including diabetes, heart disease, Parkinson's and other diseases for which there is currently no cure.
About Premera Blue Cross
Our mission is to provide peace of mind to our members about their healthcare coverage. We provide health benefits and related services to more than 1.6 million people. Premera Blue Cross has operated in Washington since 1933, and Alaska since 1952. Premera Blue Cross is a not-for-profit, independent licensee of the Blue Cross Blue Shield Association.
Premera Blue Cross is a member of a family of companies based in Mountlake Terrace, Washington that provide health, life, vision, dental, stop-loss, disability, and other related products and services. Please visit www.premera.com for more information.
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/.
CONTACT: Paul Knopick
E & E Communications
pknopick@eandecommunications.com
949.707.5365
SOURCE Cord Blood America, Inc.
