BEIJING, Jan. 8 /Xinhua-PRNewswire-FirstCall/ -- China Medical Technologies, Inc. (the ''Company'') (Nasdaq: CMED), a leading China-based medical device company that develops, manufactures and markets advanced in- vitro diagnostic (''IVD'') products and high intensity focused ultrasound tumor therapy system, today announced that it has completed its previously announced acquisition (the ''Acquisition'') of the entire interest in Beijing Bio-Ekon Biotechnology Co., Ltd (''BBE''), a fast-growing ECLIA player in China. The Acquisition is expected to strengthen the Company's leading position in advanced IVD market in China.
The Company expects the Acquisition to be accretive immediately from the current quarter ending March 31, 2008, resulting in increases in both revenues and adjusted non-GAAP net income.
About China Medical Technologies
China Medical Technologies is a leading China-based medical device company that develops, manufactures and markets advanced IVD products using Enhanced Chemiluminescence (ECLIA) technology and Fluorescent in situ Hybridization (FISH) technology, to detect and monitor various diseases and disorders, and products using High Intensity Focused Ultrasound (HIFU) for the treatment of solid cancers and benign tumors. For more information, please visit http://www.chinameditech.com .
About Beijing Bio-Ekon Biotechnology Co., Ltd.
Founded in 1999, BBE commenced business in selling ELISA IVD products
in China. In 2006, BBE launched its first semi-automatic ECLIA analyzer and
related reagents upon receiving approval from the State Food and Drug
Administration. BBE has sales offices in Beijing, Guangzhou, Wuhan, Qingdao
|SOURCE China Medical Technologies, Inc.|
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