How’s Business?: Cord blood may save lives

By Joe Palumbo III

This kind of research has generated a lot of discussion in the medical field about what it can do to help fight and even cure cancer and combat genetic diseases. Cord blood is blood that is extracted from a newborn baby's umbilical cord with a syringe. It is then sent overnight to a special lab, where the stem cells are separated out and frozen for future use.There have been some documented events which have substantiated why cord blood can truly create medical miracles. One event (described in Parade Magazine in August 1999) involved a baby named Joshua, who was born with leukemia and is now free of the disease because he was saved by cord blood from his older brother, Justin.The fascinating part of investing in cord blood is that diseases like cancer could be treated and cured later in life, for yourself or a loved one if need be. It takes an investment of between $1,200-$1,800 for the actual saving of the cord blood during the delivery of the baby. You then pay about $100 annually to store the stem cells at a medical facility.So how's business this week in terms of what cord blood brings to the table as an investment? Currently there are 238 research facilities, including 32 in the United States, that do such research.I feel it's an investment that should be strongly considered if your family has a history of cancer or genetic disease. What if it is never needed or used and doesn't work? Yet, it could be the only shot you have of saving your self or someone dear to you.Joseph J. Palumbo III is the managing director for the Palco Group Inc. The Palco Group deals in asset management, private finance funding, and business consulting. Palumbo can be reached at palcogroup@aol.com or 718-461-8317, 516-297-4034.

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