Medipost said Tuesday that it recorded 42.2 billion won ($39.3 million) in sales last year, a 47 percent increase from 2016. The company also registered 700 million won in operating profit last year, turning to a surplus from a deficit in 2016.

The most prominent increase in revenue came from stem cell therapy products, which exceeded 10 billion won for the first time, up 77.9 percent from 2016. The cord blood banking division also recorded sales of 19.5 billion won, up 22.5 percent from the previous year, demonstrating that the division has surpassed its recession period.

Other business division such as health functional foods and cosmetics also grew, with sales increasing by 39.1 percent and 214.3 percent, respectively.

“This year the company plans to do its best to boost sales of stem cell treatment drugs, and strengthen sales capabilities of cord blood banks, health functional foods and cosmetics,” a company official said.