Tick-tock: Cordlife’s fate on the line
Much at stake as Singapore’s home-grown private cord blood banker’s MOH suspension notice closes in
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AS THE clock ticks down for Cordlife Group, Singapore’s pioneer and Asia’s largest private cord blood banking provider, startling events of late have imbued little hope that things could be looking up for the controversy-stricken company.
A six-month suspension imposed by the Ministry of Health (MOH) on Cordlife’s Singapore operations to get its act together is fast coming to a close in mid-June. At stake is the fate of Cordlife’s business in Singapore, long the group’s jewel in the crown that accounts for over 40 per cent of total revenue.
How quickly the tables have turned – the Singapore business has now become a thorn in its side, while its operations in Hong Kong, Indonesia, Malaysia, the Philippines and India, where it is a leading player, continue to thrive and expand.
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