Cordlife to resume cord blood banking services limitedly

It is expected to continuously impact its finances negatively.

Cordilife Group has warned investors that its inability to resume full operations will "continuously impact its finances negatively" for the fiscal year ending 31 December 2024.

In a bourse filing, Cordilife said that it is able to resume its cord blood banking service operations limitedly, with the MOH limiting the company's collection, testing, processing, and storing of new cord blood from infant donors to no more than 30 units per month until 13 January 2025.

Cordilife had earlier said that it does not intend to submit a written representation to the MOH regarding the third notice.

ERRATUM: An earlier iteration of the headline falsely stated that Cordlife failed to acquire a blood service license from the MOH. This is incorrect. As per an SGX filing on 13 September 2023, Cordlife has been granted approval to resume its cord blood banking services "in a controlled manner." We sincerely apologize for this error.

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