CyGenics Asian Healthcare Presence Expanded in Indonesia
CyGenics Ltd. announced Indonesia's pharma company, Kalbe Farma, has taken a 49% stake in its cord blood banking subsidiary, CordLife Indonesia. According to the company, this is a further, important step in CyGenics strategy of focusing on its core business of tissue and cord blood banking, and greatly strengthens its presence in a large and important market in the Asian region.
The expansion of the Indonesian operations is in line with CyGenics' focus on revenue generating cord blood banking services and on establishing a sound presence in all major markets in the Asian region.
Kalbe Farma plans to make a significant contribution towards growing the business through its vast hospital sales force of 6,000 people, and extensive hospital and birthing centre network. CordLife Indonesia will launch an expanded marketing and sales program for the cord blood banking business later this year.
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