Does Bible support Blood transfusions?

Genesis 9 vs.4 –  But flesh with the life thereof, which is the blood thereof, shall ye not eat.

1. Members of Jehovah Witness Sect oppose blood transfusion on sick patients who require it, on the basis that the Bible forbids eating of blood.
2. What the Bible forbids is eating of a dead animal whose blood was not drained after it was killed.
3. Eating meat that is not drained of blood dishonours God that gives blood as life.
4. This cannot be equated with man to man blood transfusion which is a life saving activity.