Cord Blood America, Inc. (CBAI.OB) Announces Update on the Acquisition of BioCells, Inc., One of South America’s Largest Stem Cell Companies
Cord Blood America, Inc., an umbilical cord blood stem cell preservation provider focused on bringing the life-saving potential of stem cells to families nationwide and internationally, recently announced that all preliminary due diligence is now complete for the acquisition of controlling interest in BioCells, Inc., the second largest stem cell storage company in Argentina. BioCells is a profitable company with annual revenues of $1.2 million (USD) in 2009. With affiliates under development in Peru, Colombia, Bolivia, Panama and Puerto Rico and 12 locations throughout Argentina, the acquisition of BioCells aligns with the company’s goal of building Cord Blood America into…