Apr 25 2014

Americord Client Featured in Front Page Wall Street Journal Article on Cord Blood Banking

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Americord CEO Interviewed For Article Exploring Good And Bad Practices In The Industry

New York – April 25, 2014 – Americord Registry client Whitney Ferrarese was featured in a extensive front page Wall Street Journal article published last week about her family’s positive experience with cord blood banking. Ms. Ferrarese and her husband chose Americord to store their first baby’s cord blood after a long online search, and they plan to store their second baby’s cord blood with Americord as well.

While the Ferrareses have had an excellent experience with Americord, the article uncovered a number of deceptive practices and poor quality services among other cord blood banks. For the article, the Wall Street Journal conducted an analysis of government inspections and lawsuits in the U.S. and found a variety of problems, including dirty storage conditions, leaky blood samples and firms going out of business.

According to the article, some of the lower quality banks have made major errors in the processing and storage of cord blood that led to complications for their clients down the road. For example, one company failed to properly label a cord blood unit for transplant that ultimately led to the family not being able to use their cord blood despite having paid for the service.

“While leading companies in the industry, including Americord, maintain the highest quality standards for cord blood banking, certain competitors have failed to uphold the same rigorous attention to quality,” said Americord CEO Martin Smithmyer, who was also interviewed for the article. “It is irresponsible and inexcusable to live up to anything less than the highest standards when people’s health is at stake.” Americord recently published its Cord Blood Banking Bill of Rights, which details the need for cord blood banks to maintain and be transparent about very specific quality standards that exist to protect clients from potential issues that could arise from cord blood being stored improperly.

Americord is registered with the FDA and accredited by the Better Business Bureau. The company’s laboratory is CLIA Certified, accredited by the AABB and complies with all federal and state guidelines and applicable licenses. Americord’s Medical Director Dr. Robert A. Dracker, who is a pediatrician, hematologist/oncologist, transfusion medicine specialist, and experienced blood and stem cell banking leader, is responsible for all of Americord’s laboratory, collection and transport protocols and procedures, licensing and accreditation, establishing quality controls and advising the company with respect to scientific and medical matters. Americord’s commitment to quality is backed by the highest guarantee in the industry at $90,000.

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Category: Press