Navigation Links
China Cord Blood Corporation Forms Zhejiang Subsidiary
Date:2/22/2011

HONG KONG, Feb.22, 2011 /PRNewswire-Asia-FirstCall/ -- China Cord Blood Corporation (NYSE: CO) ("CCBC" or "the Company"), the first and largest cord blood banking operator in China, today announced the formation of Zhejiang Lukou Biotechnology Co., Ltd. ("Zhejiang Lukou"), an indirect non-wholly owned subsidiary with the Zhejiang Provincial Blood Center, pursuant to the Company's framework agreement announced in September 2010.  Zhejiang Lukou, which is 90% owned by CCBC, will operate, on an exclusive basis, its cord blood banking services in the Zhejiang province.  

Under China's "One License per Region" policy, only one cord blood bank license is granted per province or municipality.  The Zhejiang cord blood banking license would be the seventh license granted in China and represents the first license issued since 2008.  Operating the Zhejiang subsidiary will broaden CCBC's coverage into the new and previously untapped market of the Zhejiang province.  

Ms. Ting Zheng, Chairperson and CEO of China Cord Blood Corporation, stated, "We continue to make solid progress on the commercialization of our Zhejiang cord blood banking operation, and today's announcement is an important step toward commercializing our services in this previously untapped region.  We are excited about the opening of Zhejiang Lukou, and from there, the next step in developing the Zhejiang market is infrastructure construction and building up our team, followed by a series of pre-marketing initiatives and early-stage market education activities.  By replicating our successes in Beijing and Guangdong, we are confident that the Zhejiang operation will commence in a timely and efficient manner."

Zhejiang is one of the more affluent regions in China, after Shanghai, Beijing and Guangdong, with a birthrate of over 520,000 newborns per annum, according to the National Bureau of Statistics of China.  With the addition of Zhejiang province, CCBC's addressable market size will increase by more than 40% from approximately 1.2 million newborns per year to more than 1.8 million newborns per year.

Ms. Zheng concluded, "We have successfully positioned ourselves as the largest cord blood banking service provider in China and have captured several key affluent regions, namely, Beijing, Guangdong, Zhejiang and through our investment into the exclusive operator, to include Shandong.  With China's one-child policy, rising household incomes and increasing public awareness of cord blood banking benefits, we are very excited about CCBC's future prospects.  Aside from continuing our solid operational performance and ongoing nationwide consolidation strategy, we are also closely monitoring developments in the Asia Pacific region and will proactively pursue any emerging opportunities.  We are confident that our shareholders will be greatly rewarded as we develop our leading presence in the global cord blood banking industry."

About China Cord Blood Corporation

China Cord Blood Corporation is the first and largest cord blood banking operator in China in terms of geographical coverage and is the only cord blood banking operator with multiple licenses.  Under the current PRC government regulations, only one licensed cord blood banking operator is permitted to operate in each licensed region and only seven licenses were authorized as of today.  China Cord Blood Corporation provides cord blood collection, laboratory testing, hematopoietic stem cell processing, and stem cell storage services.  For more information, please visit our website at http://www.chinacordbloodcorp.com.  

Safe Harbor Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, performance and results of operations, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

For more information, please contact:


China Cord Blood Corporation

Ms. Joeling Law

Tel: +852-3605-8180

Email: ir@chinacordbloodcorp.com


ICR, LLC

In New York:

Ashley M. Ammon

Tel: +1-646-277-1227


In Beijing:

Wen Lei Zheng

Tel: +86-10-6583-7510




'/>"/>
SOURCE China Cord Blood Corporation
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. China Cord Blood Corporation Announces Results of 2010 Annual General Meeting
2. China Cord Blood Corporation to Announce Third Quarter Fiscal 2011 Financial Results
3. China-Biotics to Report Fiscal Year 2011 Third Quarter Financial Results on February 9
4. China-Biotics, Inc. Provides Preliminary FY2011Third Quarter Revenue
5. Reportlinker Adds Industrial Biotechnology China News 1011
6. Reportlinker Adds Financial Health of Biotechnology and Drugs Industry in India and China
7. China Cord Blood Corporation to Hold Annual General Meeting in Hong Kong on February 18, 2011
8. China-Biotics, Inc. to Hold 2010 Annual Meeting of Stockholders on March 9, 2011
9. China Cord Blood Corporation Announces Completion of Warrant Exchange
10. China-Biotics Announces Redemption of $25 million in Senior Convertible Notes
11. China Cord Blood Corporation Announces Participation at the 29th Annual J.P. Morgan Healthcare Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/27/2016)... 2016 ReportsnReports.com adds 2016 ... focus on US, EU, China ... the healthcare business intelligence collection of its growing ... report on the Flow Cytometry market spread across ... 282 tables and figures is now available at ...
(Date:4/26/2016)... , ... April 26, 2016 , ... The European ... been selected as one of three finalists for the European Inventor Award 2016 in ... innovation prize will be announced at a ceremony in Lisbon on June 9th. , ...
(Date:4/26/2016)... (PRWEB) , ... April 26, 2016 , ... This unique ... Scottsdale and will offer attendees an opportunity to get the lowdown on female fertility ... Over cocktails and appetizers, Dr. Jesse Hade, of Boston IVF - The Arizona Center, ...
(Date:4/26/2016)... VIENNA and ... The prize recognizes the innovation capabilities ... innovations that will benefit patients and laboratory diagnostics ... ) , Norma Instruments , ... setting products in the field of hematology, announced ...
Breaking Biology Technology:
(Date:4/28/2016)... India , April 28, 2016 ... Infosys (NYSE: INFY ), and Samsung SDS, a ... that will provide end customers with a more secure, ... services.      (Logo: http://photos.prnewswire.com/prnh/20130122/589162 ) , ... services, but it also plays a fundamental part in enabling ...
(Date:4/28/2016)... , April 28, 2016 First quarter 2016: ... up 966% compared with the first quarter of 2015 ... SEK 589.1 M (loss: 18.8) and the operating margin was 40% ... 0.32) Cash flow from operations was SEK 249.9 M ... revenue guidance is unchanged, SEK 7,000-8,500 M. The operating ...
(Date:4/26/2016)... India and LONDON ... Infosys Finacle, part of EdgeVerve Systems, a product ... and Onegini today announced a partnership to integrate ... solutions.      (Logo: http://photos.prnewswire.com/prnh/20151104/283829LOGO ... to provide their customers enhanced security to access ...
Breaking Biology News(10 mins):