That concept is just witchcraft. Cats will eat placenta instinctvely, but they won't leave the litter for days and in the wild would have  go hungry other wise. Any nutritional value would be reduced by processing, probably no different than eating liver. There is no research that substantiates any human benefits.  I've also seen cats eat their kittens. Why not give that a try. More Chinese traditional medicine. Give it a try, can't hurt, but try it raw.