NEW YORK, June 5, 2012 /PRNewswire/
-- Grandparents.com, Inc. (OTCBB: GPCM), The
Ultimate Resource for Grandparents, has announced the
expansion of its current business to insurance and other ventures
focusing on serving America's 120 million grandparents, boomers and
seniors. In particular, the Company intends to begin offering
health, life, auto, home and long term care insurance, investments,
and retirement planning. Health insurance products will be marketed
through a joint venture with Denver Management Advisors, Inc.
("DMA"), a Colorado insurance and
financial advisory services firm. In addition, the Company intends
to develop new initiatives in connection with development of the
"Grandparents.com Social Network" related to travel, leisure,
dating, food and entertainment. The Company also intends to develop
a consumer rebate savings card and is in in the process of
organizing a non-profit foundation with the intent of harnessing
the talent and experience of America's grandparents toward the
betterment of America. The Company recently announced that its
membership rose by over 50% to 610,000 members in the past two
months.
As part of its expanded business platform, the Company intends
to implement a revenue and marketing model similar to AARP®
Services, Inc., which, according to AARP's Annual Reports and
information available in SEC filings by its marketing partners
generates over $10 billion annually
for national insurance, financial and other marketing
partners. According to published financial statements of
AARP® and its affiliates, AARP® affiliates earned
over $600 million in each of the past
several years from insurance and financial relationships.
In connection with its first insurance endeavor, the Company
expects to enter into a joint venture arrangement with DMA to
manage Grandparents Health Plans, LLC ("GHP"). It is expected
that DMA will retain ten percent ownership of GHP and DMA's Founder
and CEO, C. David Kikumoto, will
serve as CEO of GHP. GHP is currently licensed to offer health and
life insurance products in 41 states. We anticipate that GHP will
start offering health and life insurance products to members of
Grandparents.com in September
2012.
Prior to founding DMA, Mr. Kikumoto was President and Vice
Chairman of Anthem Blue Cross and Blue Shield, Colorado and Nevada from 1999 to 2000. He led the merger of
Blue Cross and Blue Shield of Colorado and Nevada with Anthem, Inc., which resulted in
the creation of one of the largest private foundations in the
State of Colorado. From 1987 to
1999, Mr. Kikumoto served in several roles including as President
and Chief Executive Officer at Blue Cross and Blue Shield of
Colorado, Nevada and New
Mexico, where he created one the first regional Blue Cross
and Blue Shield Plans with total membership of 750,000 and annual
premium income of $800 million. Mr.
Kikumoto is presently Chairman of the Board of Air Methods
Corporation (NASDAQ: AIRM), the nation's largest air medical
transport company, with over $1
billion in annual revenues. He also serves as Chairman of
the Greater Denver Area Boy Scouts of America, and is a member of
the Board of the Volunteers of America – National Services. Mr.
Kikumoto received his Bachelor of Science degree in accounting from
the University of Utah, pursued
graduate studies at the University of
Utah, and graduated from the Executive Development Program
at the University of Chicago.
About Grandparents.com
At Grandparents.com, our goal is to connect and inspire
today's families. As The Ultimate Resource for
Grandparents ™, we seek to strengthen the ties between
family members by promoting wellbeing for young and old, and by
providing smart information and expert advice on what really
matters to our members, from health and money to travel and
retirement. Our stories and videos celebrate the role of
grandparents, and encourage them to tell their own stories, passing
on a meaningful legacy to their children and grandchildren. As we
approach the official Grandparent's Day launch of our new
website and App, we will be unveiling new, enriching experiences
for our users.
Forward-Looking Statements. Various statements in
this release, including those that express a belief, expectation or
intention, may be considered "forward-looking statements" that
involve risks and uncertainties that could cause actual results to
differ materially from projected results. Accordingly, investors
should not place undue reliance on forward-looking statements as a
prediction of actual results. These forward-looking statements may
include projections and estimates concerning the timing and success
of specific projects, including, without limitation, the entry into
a joint venture arrangement with DMA and the offering of insurance
plans pursuant thereto, the engagement of Mr. Kikumoto as CEO of
GHP, the implementation of a revenue and marketing model similar to
AARP® Services, Inc., and the offering of other ventures
described herein or in the Company's other press releases and
filings with the Securities and Exchange
Commission. Forward-looking statements may also include
projections and estimates concerning our future operating results
and financial condition. When we use the words "will," "believe,"
"intend," "expect," "may," "should," "anticipate," "could,"
"estimate," "plan," "predict," "project," or their negatives, or
other similar expressions, the statements which include those words
are usually forward-looking statements. When we describe strategy
that involves risks or uncertainties, we are making forward-looking
statements. The forward-looking statements in this press release
speak only as of the date of this press release; we disclaim any
obligation to update these statements. We have based these
forward-looking statements on our current expectations and
assumptions about future events. While our management considers
these expectations and assumptions to be reasonable, they are
inherently subject to significant business, economic, competitive,
regulatory and other risks, contingencies and uncertainties, most
of which are difficult to predict and many of which are beyond our
control.
SOURCE Grandparents.com, Inc.