CRYO-CELL Announces Exclusive Agreement With Boston Healthcare For Strategic Representation Within The Insurance Industry
October 13, 1999 02:58 PM
CLEARWATER, Fla., Oct. 13 /PRNewswire/ -- Daniel D. Richard, Chairman and Chief Executive Officer of CRYO-CELL International, Inc. CCEL , announced today that the company has entered into an exclusive agreement with Boston Healthcare to represent the company in exploring partnering opportunities with major or market dominant insurance companies.
Boston Healthcare will interact with major firms in the insurance industry on behalf of CRYO-CELL.
According to Andrew Ferrara, Chief Executive Officer of Boston Healthcare, his company will introduce insurance companies and other potential payers to the value of CRYO-CELL's autologous/sibling U-Cord(TM) stem cell preservation program, which could provide medical benefit to the policy holders and possibly siblings within their family.
Mr. Ferrara stated, "Our goal is structuring strategic programs for insurance coverage for cord blood storage which highlights the value of CRYO-CELL's service."
Boston Healthcare will work with CRYO-CELL to explore and finalize contracts with the insurance companies or major corporations who provide insurance for their own employees or health care programs.
Michael Isenberg, Assistant to the Chief Executive Officer of CRYO-CELL, was instrumental in the negotiations, which led to the signing of the Agreement with Boston Healthcare.
CRYO-CELL is a publicly traded company. Its common stock trades on The Nasdaq Stock Market(R) under the symbol CCEL.
Forward-Looking Statement
Statements wherein the terms "believes," "intends," or "expects" as used are intended to reflect "forward looking statements" of the Company. The information contained herein is subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward looking statements or paragraphs. Readers should carefully review the risk factors described in other documents the Company files from time to time with the Securities and Exchange Commission, including the most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and any Current Reports on Form 8-K filed by the Company.
SOURCE CRYO-CELL International, Inc.
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