[SINGAPORE] Private cord-blood bank Cordlife announced on Monday (Jun 23) that it will begin holding a series of in-person and online townhalls this week with affected customers from the damaged and high-risk tanks.
The townhalls aim to explore and put forward possible ways to enhance support and expand the coverage for these affected customers in an “enhanced proposal”, and receive feedback from them on these suggestions.
In a statement on Monday, the stem-cell company noted that this “enhanced proposal” is still under consideration. Following townhall discussions, it may include areas relating to further provisions regarding storage of the cord blood units; further areas of coverage for customers not previously set out in the contracts; and medical care support if the child requires a cord blood transplant.
This is part of the group’s ongoing customer engagement efforts, after Cordlife resumed full operations in January this year.
Earlier in February 2024, Cordlife had offered affected customers a refund of the annual fees received from them from the start of the temperature excursion, and to waive all subsequent fees for active customers until their child turns 21. This came after under 2,200 cord blood units in one of Cordlife’s storage tanks were damaged and rendered unsuitable for stem cell transplants due to improper storage.
The company offered the same refund to customers in April 2024 when another batch of 5,300 cord blood units were deemed to be at high risk. Of the total number of affected customers, around 56 per cent of them accepted the group’s offers as at May 30.
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“In the event the transplant physician determines the cord blood cannot be successfully used for an approved cord blood transplant solely because it does not meet the viability criteria, Cordlife will use its best endeavours to find a suitable replacement,” the company noted in its statement.
The “enhanced proposal”, upon its offer by the stem-cell company, would be available to all affected customers from the damaged and high-risk tanks, and not just the remaining 44 per cent of affected customers who have yet to accept Cordlife’s offers made in February and April last year.
Chen Xiaoling, Cordlife’s group executive director and chief executive, said: “For the 56 per cent of affected customers who accepted the earlier offer, rest assured you will automatically be entitled to any improvements made.
“The management team takes all our customers’ feedback seriously, and we will keep all affected customers and stakeholders updated in an open and timely manner.”
Shares of Cordlife closed flat at S$0.30 on Friday, before the announcement.
