Cordlife Group to regain MOH's trust after issue with CBU storage tanks

The firm will not be submitting written representations to the health ministry.

Healthcare firm, Cordlife Group, revealed that it will work hard to regain the trust of the Ministry of Health (MOH), following the latter's order to stop Cordlife's collection of new cord blood for six months.

Last November, the MOH revealed that it found seven of CGL's 22 cord blood unit storage tanks were exposed to temperatures above the acceptable limits of below -150oC1. When exposed to suboptimal storage temperatures, the CBUs will start to thaw and the stem cells in the cord blood may be damaged. 

With this, Cordlife said it has been working with MOH to address the issues raised in its investigations and imposing the needed measures to resolve such issues.

"In this regard, the company wishes to announce that it will be accepting the contents of the Notice to stop for a period of up to six months, the collection, testing, processing and/or storage of any new cord blood and human tissues, or provide any new types of tests to patients," said Cordlife in an SGX statement.

"The Company will also not be submitting written representations to MOH on the same," it added.

The company has yet to determine if there will be a financial impact from this incident due to the pending outcome of investigations.

"In the meantime, shareholders of the Company and potential investors should exercise caution when dealing in the shares of the Company. They should consult their stockbrokers, bank managers, solicitors, or other professional advisers if they have any doubt about the actions they should take," it said.