KUALA LUMPUR, Dec 11 (Bernama) -- TMC Life Sciences Bhd has established a wholly-owned subsidiary, TMC Stemcells Sdn Bhd, dedicated to cord blood and adult stem cell banking, therapy, application, and research and development.
In a statement Monday, the company, the parent company of TMC Fertility Centre, said TMC Stemcells will primarily be in the business of harvesting, processing, and storage of umbilical cord blood stem cells and peripheral blood stem cells.
"The incorporation of TMC Stemcells is a strategic step for the group, and part of the group's long term plan to provide stem cell therapy and banking to local and foreign patients," its chairman, Professor Khalid Abdul Kadir said.
In short term, TMC Stemcells is expected to be a direct beneficiary of TMC Fertility Centre's growing business.
In long term, the healthcare services to be provided in the upcoming Tropicana Medical Centre would also be advantageous to TMC Stemcells, the statement said.
Tropicana Medical Centre is expected to be operational in 2008.
"We are optimistic that TMC Stemcells will indeed contribute positively to the group in the coming years," Khalid added.
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