These things are bundled and sold as a package to the larger cord blood banks who then repackage them and sell derivatives based on futures swaps and exchange traded funds. A string of bad earnings reports could result in a post-partum recession and blood in the streets. Your best bet is to stuff the thing in your mattress.jobyts said:My wife is due by the end of August, and we plan to collect the cord blood.
I was wondering what happens to our cord blood, if the cord blood bank goes bankrupt in the future?
next step...
7. Consumer Rights
Please READ THE CONTRACT before choosing a company.
* In the event that the storage company went bankrupt, what would happen to the cord blood samples?
Examples: One of the earliest cord blood banks was Biocyte, founded by the well-known stem cell researcher Hal Broxmeyer, PhD. Unfortunately, they went out of business. Their samples were stored at the Central Blood Bank of Pittsburgh, and that facility agreed to maintain their storage. Since then, Dr. Broxmeyer has served on the Advisory Board of ViaCord. By comparison, when LifeBlood Cryogenics went bankrupt, parents lost their banked cord blood.
In 2001, a company named Bio-Cell opened up in Coral Springs FL. They were actually shipping cord blood to the laboratory of Cryo-Cell in Clearwater FL, but were charging parents twice as much as Cryo-Cell. They went out of business in less than a year, but parents were able to locate their cord blood in the Cryo-Cell storage facility.
In 2002, a company named American Cord Blood Institute opened up in The Woodlands, Texas. They tried to enter the high end of the market, running a very high quality operation; but they could not find enough customers willing to pay their prices and went out of business in less than a year.
In 2003, BirthCells Technology of Eatontown, NJ, closed shop after four years of operations. They were also using the laboratory of Cryo-Cell International in Clearwater, FL. It is possible that they could not maintain a profit margin after Cryo-Cell substantially increased their prices in spring of 2003. Again, storage contracts will be maintained by Cryo-Cell.
Office_Shredder said:google to the rescue
http://parentsguidecordblood.org/content/usa/banklists/questionnaire.shtml
Seems to be case by case depending on the bank's existing contracts
jimmysnyder said:These things are bundled and sold as a package to the larger cord blood banks who then repackage them and sell derivatives based on futures swaps and exchange traded funds. A string of bad earnings reports could result in a post-partum recession and blood in the streets. Your best bet is to stuff the thing in your mattress.
jimmysnyder said:...Your best bet is to stuff the thing in your mattress.
Cord blood banking is the process of collecting and storing the blood found in the umbilical cord of a newborn baby. This blood contains stem cells that can be used in medical treatments for a variety of diseases and conditions.
By banking your baby's cord blood, you are preserving a valuable source of stem cells that may be used in the future to treat diseases. These stem cells have the potential to regenerate damaged tissues and organs, providing potential treatment options for your child or other family members.
After the baby is born, the umbilical cord is clamped and cut. The cord blood is then collected using a sterile needle and syringe, and is then stored in a special bag or container. The blood is then transported to a cord blood bank, where it is processed, tested, and stored in a frozen state.
Cord blood can be stored for many years, and there have been successful uses of cord blood stem cells that have been stored for over 20 years. The length of storage will depend on the specific cord blood bank and their policies.
The cost of cord blood banking can vary depending on the bank and their services. There may be initial collection and processing fees, as well as annual storage fees. It is important to research and compare different cord blood banks to find the best option for your budget.