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.