Cordlife Cord Blood & Tissue Banking Service Licenses Renewed for a Year
In a recent development, Cordlife has announced that its cord blood and human tissue banking service licenses have been renewed for a year. The Ministry of Health (MOH) informed the company that the director-general of health has decided to extend its licenses starting from January 14.
Cordlife emphasized its commitment to meeting all regulatory requirements and compliance measures before fully resuming operations in Singapore. However, due to these circumstances, the company is currently unable to assess the financial impact on the group’s performance for the financial year ending December 31, 2025.
Challenges Faced by Cordlife
Cordlife faced public scrutiny in November 2023 when MOH launched an investigation into the company’s handling of cord blood units. The investigation revealed that seven tanks containing cord blood units were exposed to temperatures exceeding acceptable limits. This mishandling led to the damage of approximately 2,200 cord blood units in one tank, affecting over 2,150 clients.
Furthermore, in April of the following year, another 5,300 cord blood units in a separate tank and dry shipper were deemed “non-viable.” As a result, Cordlife was only permitted to resume its cord blood banking services in a limited capacity from September 15, 2024, to January 13, 2025. During this time, the company could only collect, test, process, and store up to 30 units of new cord blood per month.
Path to Redemption
Following subsequent audits by the health ministry in August 2024, Cordlife demonstrated that it had met the necessary requirements to resume its cord blood banking services. This development raised questions about whether the company would be granted permission to exceed the 30-unit limit and if any additional restrictions would be imposed.
As this situation unfolds, it remains crucial for Cordlife to prioritize the safety and well-being of its clients while upholding the highest standards of service and compliance in the field of cord blood banking. The renewal of its licenses marks a step forward in its journey towards redemption and rebuilding trust within the community.