TMC Life Sciences Bhd, in which Berjaya Land Bhd has a 7.14 per cent stake, has six centres in Malaysia providing fertility services such as investigation of infertility, assisted reproduction technology procedures, and general obstetrics and gynaecology services.
"We have been operating in Indonesia and the Philippines through agents." Chong told Business Times at the official launch of StemTech International Sdn Bhd in Kota Damansara yesterday by Deputy Health Minister Datuk Dr Abdul Latiff Ahmad.
Chong added that StemTech International, which is wholly-owned by TMC Life Sciences Bhd, is a high-tech stem cell services provider focusing on umbilical cord blood stem cell banking in Malaysia.
Its chief executive officer Michael Chua said that StemTech International will soon offer adult stem cell banking and stem cell medical therapy through TMC Life Sciences' flagship hospital, Tropicana Medical Centre, which is being built in Kota Damansara and will operate by the fourth quarter.
"We will also expand StemTech International's operation regionally, starting with Indonesia," Michael said.
Stem cells can turn into any kind of cell in the body and is useful to combat more than 70 diseases including cancer.
"There are currently four private cord blood banks in Malaysia and we are the only one who own a hospital where stem cell transplantation can be done. The hospital will be integrated with TMC Life Sciences' operation to provide comprehensive services," added Michael.