SINGAPORE (May 28): When former investment banker Michael Weiss started in his new role as CEO of cord blood banking company Cordlife Group earlier this year, he was chiefly concerned with steering it back to profitability.

“I think there’s a cry for growth,” Weiss tells The Edge Singapore. “We spent the last couple of years stabilising the business and the future is all about growth. It’s about offering our existing clients more services; it’s about using the big data we have [collected from clients].”

Weiss seems to be succeeding. For 9MFY2018, Cordlife reported earnings of $2.2 million on the back of a 14.9% y-o-y increase in revenue to $50.7 million. For the same period last year, Cordlife had reported losses of $3.3 million.

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