Company Announces Over 1,200% Revenue Growth
New York – February 25, 2013 – Americord Registry, provider of cord blood and cord tissue banking, is proud to claim the title of fastest growing cord blood bank in the United States. The company’s fiscal year 2012 data shows year-over-year revenue growth of over 1,200%. Americord executives attribute the exceptionally high growth rate to its best–in-class quality standards and the success of its robust word-of-mouth marketing strategy.
Americord is consistently regarded as the highest quality provider of cord blood banking in the United States. The company offers its clients the industry’s largest guarantee: $90,000. It also has convened one of the most prestigious advisory boards in the industry starting with Americord’s Executive Medical Director, Dr. Robert Dracker. Dr. Dracker helped author the guidelines for NYSDOH policy on cord blood stem cells, is an FDA Pediatrics Advisory Committee member, and is one of the founders of cord blood banking (he conducted the first cord blood transplant in the United States). At the start of 2013, Americord was accredited by the Better Business Bureau, and received the organization’s top rating of ‘A’. Americord also offers some unique benefits to its clients; there is no cancellation fee with Americord, the cost of a medical courier is included, and clients are not billed until their cord blood collection meets strict industry benchmarks for cell count, volume, and condition, and has been stored safely at the company laboratory.
Americord relies almost entirely on word-of-mouth marketing. While other cord blood banks spend up to 50% of revenues on marketing efforts, Americord works hard to keep marketing costs low. As a result, the company is able to pass these savings on to clients, offering a more affordable cost for this important service. Americord’s clients frequently recommend the company to friends and family, and all parties benefit. In fact, clients’ willingness to share information about the company with friends and family has driven the majority of the company’s growth. While other companies continue to engage in a costly cycle of paying off doctors in return for promoting their services and paying for expensive marketing campaigns, Americord has adopted a strategy that is less controversial, less expensive, and remarkably effective. As a result, the company is being propelled to the forefront of the cord blood banking industry.
Martin Smithmyer, the CEO of Americord, thanked families that have banked their babies’ cord blood with Americord in a statement on Friday, “Our extraordinary growth rate in 2012 truly validates the efforts we have made to provide the highest quality cord blood banking services at the most affordable cost. Families interested in banking cord blood are choosing Americord more than ever before and we are happy to deliver the highest quality customer service to our clients.”