Cord Blood America Inc. today announced that it believes the trend established in 2007 for states to legislate that consumers should be made aware of the advantages of umbilical cord blood storage will continue in 2008 and beyond. New York was the first state to put into law the need for a program to make the public aware of the potential future benefits of umbilical cord blood banking. The state of California quickly followed New York and enacted similar legislation to inform the public.
Spearheading the movement for legislation in New York was Assemblymen Joseph Lentol who was said, “Pregnant women should be receiving information early so they can make an educated decision, especially since there are now more than 60 diseases that can be helped through cord blood transplantation, including leukemia, lymphomas and other cancers.” California Assemblyman Anthony Portantino further added, “Why are we throwing something away that we know is such a healing product. It has the power to do miracles.”
Cord Blood America Inc. was founded in Los Angeles, California in 2003 and has not only been collecting, testing and processing umbilical cords in the United States, but has also been actively engaging in advertising through print, radio and television for further support of their cause. In 2004 the company generated only $752,000 in revenues which by 2005 had tripled to over $2.28 million. The steady increase has continued as the company recorded revenues of $3.33 million in 2006 and is on pace to finish their 2007 fiscal year with nearly $8 million in total revenues.
Let us hear your thoughts: Cord Blood America Inc. Message Board
