Daniel R. - $10,500,000.00
Vistacord Blood Banking Scam
Vistacord Blood Banking Scam Highlights
- Private cord banks reserve a newborn’s umbilical cord blood for future use by the family.
- Private cord banking costs as much as $3,000, plus a yearly storage fee.
- Private cord blood banks mislead parents on the effectiveness of an individual’s umbilical cord blood in treating genetic illnesses and diseases.
- Public umbilical cord blood banks store cord blood for free and can be used by anyone.
About Vistacord Blood Banking Scam
Biological insurance or a scam? Thousands of parents are discovering that the umbilical cord blood they saved and stored at great expense is not viable for the particular disease now attacking their son or daughter. Cord blood banks lead parents to believe that umbilical cord blood can be used if their child contracts as many as 80 different serious diseases. But recent investigations uncovering the facts on umbilical cord stem cells reveal that the claims of these blood banks are fraudulent misrepresentations. Many of the diseases listed by these banks are genetic diseases, which are not treatable with an individual’s own cord blood.
If you banked on cord blood to help protect your child from serious, life-threatening illness or disease, you may be entitled to a cash settlement. Please complete the form and one of our attorneys will contact you or call 1-800-LAW-FIRM now.
Private cord blood banks and their physician spokespeople know that umbilical cord blood fails to help with genetic diseases because genetic diseases affect all the cells in the body, rendering banked cells useless unto themselves. Yet, the banks have paid doctors to push the service and encouraged new parents who paid for the service to refer others. These deceptive marketing tactics prey on vulnerable parents willing to sacrifice anything for their newborns.
In reality, expecting parents have the option of using either private cord blood banks or public cord blood banks. Private cord banks reserve the child’s blood cord for future use by the family, while the public banks can be used by anyone. Public cord banks also do not charge for the collection of cord blood, whereas private cord banks charge in the range of $2,000 to $3,000, plus a yearly storage fee in the range of $85 to $125.
