PETALING JAYA: TMC Life Sciences Bhd subsidiary StemTech International Sdn Bhd is looking at expanding regionally, according to chief executive officer Michael Chua.
He said StemTech currently has only one cord blood bank in Malaysia.
“But we hope to set up more cord blood banks overseas in future. We are still identifying the locations of the banks which we intend to set up,” Chua said after the official opening of its office and laboratory in Kota Damansara by Deputy Health Minister Datuk Dr Abd Latiff Ahmad yesterday.
Wenddi-Anne Chong (left) and Datuk Dr Abdul Latiff Ahmad at the opening ceremony.
“Being the latest entrant into the market gave us the advantage of being able to invest in the latest technology and we are proud to say that we pioneered the use of the automated processing technology not only in Malaysia but also in this region,” executive director Wenddi-Anne Chong said.
The use of automated technology enabled the company to consistently recover 30% more stem cells leading, to a higher survival rate, she added.
Earlier, StemTech was granted a licence by the Health Ministry to operate a private blood bank in the country.
StemTech provides high-quality stem cell services and other value-added services as well as umbilical cord blood stem cell banking for new mothers.
Apart from stem cell banking services, StemTech will also be providing stem cell medical therapy through its strategic affiliation with TMC Group's flagship hospital, Tropicana Medical Centre.