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Did the president require amnio testing or chorio villi sampling? Chorio stuff less expensive...Such a debate about how much medical technology costs and the ROI, for lack of a better word. I think this president employs intellect which is not entirely sexy but perhaps he is trying to balance the ongoing argument about cost vs need in health care. IMO a reasonable compromise to suggest targeted testing to address the greater good and at the same time contain cost.
Thanks mofnc. Document is better than a kick in the azzz
I think there's a semi lame duck session about a month before mid term elections. If this was last year at this time, I think it would be more likely that the President would make a big deal out of the date.IMO a blip on the screen.
ML this insurance thing is such a defensive posture, in my book. I wish I could say otherwise but insurance companies, I have learned, are trying to reduce their losses and minimize risk. They are not big investors in the future. That's just not their role. They have learned over the decades that they can get really bad press if they choose to abrupt coverage for someone who the actuaries have determined will cost them big bucks. Think of them determining my son is a good risk at nineteen going "mudding" in his Jeep. NOT. So they minimize the risks, plain and simple. They are not trend setters in terms of public policy, only conservative responders, going with the statistics.
It is actually all about CMS setting the stage. It is no secret that what CMS approves, private insurers will follow. Insurance companies are primarily puppets, their goal being to save money, So I think it is most important to follow the CMS limelight. It will be interesting to see what transpires tomorrow, Stem Cell Awareness Day. As an investor, I am not particularly concerned about AABB accreditation while I can understand that others would be. Working with the actual regulators, the government, accreditation and such could materialize in an instant if the variables come together for the right solution. Then again, I am from Illinois, so there you have it!
Thank you for your thoughtful diligence and honesty in responding to the events as they unfold. Personally, I think we are good.
Somewhere along the line I read that CBAI was AABB pending. Can't find it now. Under normal circumstances, I would think that was a big red flag. Because cord blood banking relatively new, there may be a little more wiggle room. It is quite a process to apply for certification, inspection, response etc. What is key is the response. Most relevant question is where CBAI is in the process. And yes, you are correct, CMS would require certifcation as a provider.
The more developed an entity is in health care, the tighter the regulation, in my experience. For example, Neonatal ICU s for many years (as well as currently) have extremely specific standards to be a Level I, II, III facility (III highest level of care) Pediatric ICU, on the other hand,(once a baby goes home and comes back for ICU care) only recently regulated after multiple position statements from the AMerican Academy of Pediatrics. Within the past 10 years only has Pediatric Critical Care Medicine become a discreet entity. We are not talking a few years for NICU and PICU regulation, probably a good 30 years before standards established and certification essential. The science of medicine comes first and competition follows.
You would know more about this as a layperson than I do as one in the field.
OK. I assume meeting state regulatory requirements is somewhere in the formula but not worried about this at this point. As you said, the hospital enters an agreement with the company but that doesn't totally relieve it of it's responsibility to safeguard the patient from harm. If that were the case, only doctors would be sued for malpractice but 99.9% of the time hospitals are named as well. Hospitals who engage or employ physicians (and nurses) carry responsibility as well. Idea is that they should do a better job of screening people who work with their patients as well as the agreements they enter to manage patients. The deeper pocket factor is involved of course but you get the picture. I'm not saying the barriers are insurmountable just in need of being addressed more specifically.
My assumption is that the company would have to assume responsibility for all state mandated procedures OR the hospital would deep freeze the placenta (as is currently done) and then instead of sending to be incinerated it would be sent to the company. It's an important detail but they would have had to address the topic somehow to have gotten this far.
Actually the diciest part of the consent IMO is the extra tube of blood (sounds ridiculous but you wouldn't believe how squeamish some folks are) and the release of medical information. I think hospitals would want to tighten that clause up a bit but still seems like a viable framework.
OK got it. I guess it could be called private cause it is a "directed donation." Currently, do you know where the status of this agreement between OSIS and CBAI stands? That's probably the mystery of the hour, right? Just when you get to a good part in a book, it always happens that way! lol
That would be nice if we are truly plugged into that food chain as you describe. From earlier posts, I thought you said you were thinking out loud, maybe not. Anyway, the whole thing starts with a woman's willingness to donate a placenta so the whole food chain can start cranking. Currently placentas are destroyed after 30 days. If a woman consented to let her placenta be used for XYZ cause, would that not be a public donation by definition? I'm not following.
It is possible to be both public and private as breast milk banking has proven. There is the donation of breast milk for the greater good...a body fluid that needs to be handled in a regulated manner. Then there is a directed donor who might be a concerned sister or aunt wanting to donate breast milk to their loved one's casue. All has to be safe in the medical world. Make sense?
oops forgot the link
http://www.hmbana.org/
I remember that song. A happy one. Hope that's true for us CBAIers as well.
HI TomT. Nope placenta comes out with cord, c section or not. A few exceptions to that rule but process the same for the last million years. To harvest stem cells, as ML has pointed out, there are a variety of collection devices to make the process go smoother. Many Obstetricians like to clamp the cord and get the stem cells in the lab tube provided by whatever cord blood company the mother has engaged. Simple but elegant lol.
The reasons that placentas are required to be stored by hospitals, per state laws, is to have genetic material available for testing if needed. The required mandatory testing for all newborns is completed within 30 days. Why,you might ask, couldn't you get this same info from the newly born babe? The placenta is old news. Unfortunately a few babes don't make it and the reason is unknown. Determining the cause of death would require extensive genetic testing so that the couple can have proper genetic counseling for the next child.
OK to avoid confusion I will say there is a DELAY in the placenta being delivered but always occurs for the health of the mother. Cord is clamped in either case.
Thanks for the post locks. What is the date of this interview?
With all due respect ML...you are an incredible poster... I think the trail remains cold on HCA. I am enthusiastic about the idea of collecting placenta, ESC and such via a patented process that would alleviate the need to freeze placentas for 30 days as per state law. This is necessary to address any Newborn issues detected within the first 30 days of life at which time the mandatory metabolic testing will have been completed."End Users" would just pack the placenta, cord and all off to be processed to ESC. An incredible savings for hospitals to say the least. Sign me up!
Could be that CBAI representatives are promoting the CE offering to nurses. This is a somewhat common approach that is used by the formula companies and others. They offer to buy lunch for a group of nurses and set up the program in the breakroom for a period of 2 hours or so. The real message is to promote the product but because medical people often get turned off by sales like approaches, continuing education idea works better. Subliminal message idea.
Agree with your statement, especially when you add $20 million in compensation to Fishman for 2-3 weeks work. I believe there was an objection concerning his compensation in recent weeks.
Wow, the idea that WMI executives agreed to roll over and Fishman made it happen is a new level of low brow stuff in this drama.
My most practical interpretation of the diagram and packing instructions, ML so kindly provided is as follows. Perhaps someone very astutely figured out that hospitals pay big bucks to dispose of placentas. It is a body part/fluid etc and has to be discarded in a certain way. If the whole placenta, umbilical cord and stem cells entrenched in the "body parts" were sent to a company to extract, it would save everybody a lot of time, trouble, and expense. The collection processs or harvesting of stem cells would take place away from the delivery or "bedside." Additionally, it would take out the "variation" involved in collection of ESC from specimens because clinicians trained specifically for expert harvesting of available ESC would improve the quality. AIMVVHO. I like to keep it simple, as long as we are speculating.
OK where is HGS now? usually telling us what is going to happen today? lol
Hey, the mudslinging approach works for me. Closer to the money IMO. Thanks for your tedious contribution of transcribing the hearing GO4. I'm a visual person and it is definitely a big help.
Article updated at 1033 pm. Looks like a spin of earlier info. Is there a new filing out? Docmeisters?
JPMorgan may pursue FDIC funds for WaMu claims: report
REUTERS — 33 MINUTES AGO
NEW YORK (Reuters) - JPMorgan Chase and Co (Symbol : JPM)has told federal regulators it may seek to recoup the money it used to buy the banking assets of Washington Mutual Inc (Symbol : WAMUQ) the Wall Street Journal reported on Monday, citing people familiar with the situation.
JPMorgan (Symbol : JPM)has sent letters to the Federal Deposit Insurance Corp (FDIC), warning it could seek more than $6 billion in legal protection from the regulator's receivership, the Journal reported.
The FDIC seized Washington Mutual (Symbol : WAMUQ)in September 2008 and sold its assets to JPMorgan (Symbol : JPM) for about $1.9 billion. Earlier this month, the court-appointed examiner investigating the collapse of Washington Mutual (Symbol : WAMUQ) was given several more weeks to complete his probe, a move that could delay the company's exit from bankruptcy.
JP Morgan did not include specific dollar requests in its letters, but it submitted lawsuits related to Washington Mutual (Symbol : WAMUQ) and expects the FDIC receiver to absorb any losses resulting from them, a person familiar with the matter told the Journal.
JPMorgan Chase (Symbol : JPM) spokesman Joseph Evangelisti declined to comment on Monday.
Link works for me.
Interesting article about MM manipulation from another board.
http://www.reuters.com/article/idUSTRE68P27W20100926?pageNumber=1
Here's a couple of links about blood banking. Sounds like the war effort and development of a consortium of sorts,the American Association of Blood Banks and the Red Cross, helped promote blood donation. More than you wanted to know, I'm sure.
http://www.pbs.org/wnet/redgold/history/timeline4.html
http://www.americasblood.org/go.cfm?do=page.view&pid=30
If they move the donor consent back to the OB/GYN office, entirely different story. They can solicit however they choose. MDs not prohibited even from taking payment, some might call it kickback. But of course they don't want to sound too much like a used car salesman, so therein lies the risk and balancing act. Blood donation/Red Cross/Neutral party and established public health priority. Maybe blood donation started out with humble roots too. Have to look into that one.
I think your idea is a good one, neck. However, CBAI or anyone else would never have access to those patients cause of privacy laws and the fact that even though it's for a good cause the act itself would be called solicitation, which patients have a right to expect will not occur while in a hospital. For an idea like that to take root, legislation would have to occur to enable a neutral process to occur by which parents could be asked a question like that and it would be impossible to direct it to any one cord bank. Each state has a Perinatal system that could develop legislation of that nature, however, usually the impetus for something like that to occur is for someone like the Center for Disease Control or March of Dimes or Red Cross or someone neutral in health care to identify the need as a public health concern and gain national support and subsequently suppport at the state level.
Anyway, whoever said we don't already have some form of nationalized health care,right? haha It's too darn complicated for a simple, practical idea like you present to get through the maze.
What if we go to hospitals and ask all new parents, whether or not they are storing with CBAI, if they would like to doante their placenta blood. Could this from you have put out be a standard form given to all parents having babies born in specific hospitals.
Thanks.That is useful information.
I don't know if ML answered you but September 23 is the first day of the initial "installment" on health care reform.
hmmmm locks...the silence is deafeaning. you are a hero to listen for 2 years. GLTU
Absolutely MadB. Because we are all mesmerized by the pps and rantings of p/cb we perhaps have missed what other investors see as an opportunity.
Post # of 38846
All the news I can find is this 8-K;
http://www.dailyfinance.com/company/cord-blood-america-inc/cbai/nab/8-K/101087140/html/sec-filings
New clinical trials involving ESC. This is not a pump for another stock so note that ESC cells are central to this research.
First clinical trial involving human embryFirst clinical trial involving human embryonic stem cells gets underway in Chicago
Enrollment has begun for the first clinical trial to test a therapy developed from human embryonic stem cells.
The trial’s primary aim is to assess the safety of Geron Corp.’s experimental oligodendrocyte progenitor cells, which have been in development for about a decade. They were derived from some of the earliest human embryonic stem cells ever created.
Oligodendrocytes are cells that insulate nerve fibers with myelin, allowing electrical signals to be transmitted to and from the brain. These cells are damaged in patients with spinal cord injuries, resulting in paralysis. Making replacement cells out of embryonic stem cells is a long-held goal for many scientists, including neuroscientist Hans Keirstead, whose research team helped develop the treatment at UC Irvine.
In rats, the experimental cells – known as GRNOPC1 – helped restore the essential myelin sheath around nerve cells in the spinal cord. Treated animals regained their ability to walk and run, though they did so with a noticeable limp.
Though researchers will mainly be focused on whether the stem cells are safe to use in people, they will also look for signs that the cells can restore at least some neuromuscular control to patients’ legs and torsos.
Geron scientists believe the therapy has the best chance of working in patients who are newly paralyzed. For the clinical trial, researchers are looking for patients with thoracic spinal cord injuries that are 7 to 14 days old.
The trial will be small, with a maximum of 10 patients. The first volunteers will be treated by doctors from Northwestern University’s Feinberg School of Medicine and the Rehabilitation Institute of Chicago. As many as six additional sites around the country will be added to the trial
Good Morning Sunshine!
That was my favorite story of the day backtrax. UAW and JPM lol
I couldn't wait to see what everyone was saying about the 8K as I read it while at work and can't access message boards. Also helped me understand the dilution and big share purchases mentioned in last few days.Not too much excitement evidently. Am I missing something? I thought it sounded fairly positive but like spongeme, need help translating as I am no accountant.
DJIA: 10,662.42 -76.89 (-0.72%) | NASDAQ: 2,327.08 -7.47 (-0.32%) | S&P 500: 1,124.83 -9.45 (-0.83%) —Markets closed
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7163113
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
———————
FORM 8-K
———————
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 20, 2010
———————
CORD BLOOD AMERICA, INC.
(Exact name of registrant as specified in its charter)
———————
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 1.01 Entry into a Material Definitive Agreement
On September 20, 2010, the Company entered into a Stock Purchase Agreement (the “Agreement”), with the Shareholders of Biocordcell Argentina S.A., a corporation organized under the laws of Argentina (‘Bio”), providing for the Company’s acquisition of a majority of the outstanding shares of Bio (the “Shares), and concurrently closed the stock purchase transaction on the same date.
Bio was established in 2004 in Buenos Aires, Argentina. It is currently the second largest cord blood bank in Argentina. In the spring of 2010, it opened its own laboratory operations at its Buenos Aires headquarters where it processes and stores approximately 3,000 cord blood samples.
The company will continue to be managed by Mr. Diego Rissola, one of the founders and principal shareholders of the company. Bio maintains its market presence through 12 branch offices throughout the Argentina and management has hopes of expanding its business into other South American Countries..
Under the Agreement, the Company paid $375,000 in cash at the closing, and is obligated to pay an additional $150,000 on October 20, 2010, as the fixed portion of the purchase price for the Shares.
In addition, on October 20, 2010, the Company is obligated under the Agreement to pay $100,000 as an advance against contingent “earn-out” compensation in 2010, and an second $100,000 as an advance against contingent earn-out compensation in 2011, to be earned by the Shareholders based on Bio’s 2010 and 2011 net income performance.
The Agreement provides that the Shareholders are to be paid contingent “earn-out” compensation in 2011 based on achieving certain levels of net income in 2010; and additional contingent “earn-out” compensation in 2012 based on achieving certain levels of net income in 2011.
The earn-out provisions are as follows for Bio’s 2010 fiscal year, which ends December 31, 2010:
- If Bio net profits exceed $186,000 in 2010, the Company has agreed to pay an additional earn-out of $700,000 to the Shareholders, plus the Shareholders will retain the $100,000 payment advanced on October 20, 2010 toward the 2010 earn-out, and the Shareholders will be entitled to be paid 20% of the amount by which 2010 Bio net income exceeds $186,000.
- If Bio net profits exceed $139,500 in 2010 but do not reach $186,000, the Company has agreed to pay an additional earn-out of $700,000 to the Shareholders, plus the Shareholders will retain the $100,000 payment advanced on October 20, 2010 toward the 2010 earn-out, but will not be entitled to be paid a percentage of Bio net income.
- If Bio net profits exceed $93,000 in 2010 but do not reach $139,500, the Company has agreed to pay an additional earn-out of $500,000 to the Shareholders, plus the Shareholders will retain the $100,000 payment advanced on October 20, 2010 toward the 2010 earn-out, but will not be entitled to be paid a percentage of Bio net income.
- If Bio net profits do not equal $93,000 in 2010, no additional earn-out will be paid to the shareholders in 2011 for 2010, and the Shareholders are obligated to return to the Company, a sum equal the $100,000 payment advanced on October 20, 2010, toward the Shareholders’ 2010 earn-out, along with interest, but less actual net profits earned by Bio in 2010.
The earn-out provisions are as follows for Bio’s 2011 fiscal year, which ends on December 31, 2011
- If Bio net profits exceed $577,000 in 2011, the Company has agreed to pay an additional earn-out of $705,000 to the Shareholders, plus the Shareholders will retain the $100,000 payment advanced on October 20, 2010 toward the 2011 earn-out, and the Shareholders will be entitled to be paid 20% of the amount by which 2011 Bio net income exceeds $577,000
. - If Bio net profits exceed $432,750 in 2011 but do not reach $577,000, the Company has agreed to pay an additional earn-out of $705,000 to the Shareholders, plus the Shareholders will retain the $100,000 payment advanced on October 20, 2010 toward the 2011 earn-out, but will not be entitled to be paid a percentage of Bio net income.
- If Bio net profits exceed $288,500 in 2011 but do not reach $432,750, the Company has agreed to pay an additional earn-out of $350,000 to the Shareholders, plus the Shareholders will retain the $100,000 payment advanced on October 20, 2010 toward the 2011 earn-out, but will not be entitled to be paid a percentage of Bio net income.
- If Bio net profits do not equal $288,500 in 2011, no additional earn-out will be paid to the shareholders in 2012 for 2011, and the Shareholders are obligated to return to the Company, the $100,000 payment advanced on October 20, 2010, toward the Shareholders’ 2011 earn-out, along with interest, but less actual net profits earned by Bio in 2010.
The Agreement provides that the Shares purchased will be converted into Class Preferred A shares which in event of liquidation will have a right to a priority return of capital equal to the purchase price paid for the Shares after the payment of all Bio creditors, and then will share pro rata in any remaining capital of Bio. The Shares are pledged by the Company to secure its performance under the Agreement, and the Company is given a first right of refusal in the even the Shareholders proposed to sell their remaining shares.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
(see Item 1.01 above)
Item 9.01 Exhibits and Financial Statement Schedules.
The following documents are filed as a part of this report or incorporated herein by reference:
(1) Stock Purchase Agreement, dated September 20, 2010.*
Very timely message with today's news from CA and Anthem/BCBS
I read that info at work as well today. Sad but true. IMO the only thing that will make health care reform "come together" is the surge of covered lives occuring in 2014. The negotiating and carve outs on this bill make it a short term loser for almost all in the health care field. BCBS probably illustrating that point with their most recent declaration.
www.chicagotribune.com/business/la-fi-kids-health-insurance-20100921
Thanks Booger. Works for me. I'm encouraged as well by all of the new posters that ML elicited today from the bushes who remain on the sidelines perhaps to avoid the negativity. Who could blame them? I so admire investors who give up on a stock and move on, never to be heard from again. As my mother said if you can't say something nice.... I see that as a very different premise from one's right to complain. Accusations of pumping and so on. GLTA
Your post good. NIH info important to me as well. I have this thing about newspapers reporting things ugh...but all good.
http://stemcells.nih.gov/info/scireport/chapter9.asp
Yeah do it, Booger...can't take anymore. Last year's chart would be great.
Hello mrvegas, I don't think you should take the opinions of a few who enjoy negativity to represent those of us able to envision the big picture. A lot of transitional things going on right now in progress with this stock creating infrastructure. IMHO a cheap but long term play. GLTY