Navigation Links
Fenwal and Golden Meditech Agree to Form Joint Venture in China for Blood Collection and Transfusion Technologies
Date:8/11/2009

HONG KONG and LAKE ZURICH, Ill., Aug. 11 /PRNewswire-Asia-FirstCall/ -- Fenwal, Inc. of Lake Zurich, Illinois, and Golden Meditech (stock code: 801.HK) of Hong Kong, announced today they have agreed to form a joint venture in China to focus on blood collection and transfusion products for the fast- growing Chinese medical market.

The transaction is expected to be completed in early 2010, subject to the signing of a definitive agreement and other customary company and regulatory conditions.

Medical professionals in China are expected to benefit from the combination of Fenwal's technological leadership in blood collection, separation, preservation and transfusion, and Golden Meditech's expertise in China's blood-related medical device and blood-banking fields. Fenwal will own 51 percent of the joint venture and Golden Meditech will own 49 percent.

The joint venture will operate from Beijing and serve customers throughout China. Initially, the joint venture will focus on sales and distribution of a range of Fenwal and Golden Meditech products, including Fenwal's AMICUS(R) system, a cell-separation system used to collect platelets; Golden Meditech's 3000H Plasma Exchange system, which is designed to remove toxins from patients' blood; and related supplies used to collect, process, preserve and transfuse blood and blood components.

"Fenwal is a pioneer and leader in advanced blood technologies," said Mr. Kam Yuen, Golden Meditech's chairman and chief executive officer. "We're looking to bring together the leadership, knowledge and capabilities of both companies to expand and customize our offerings for blood collection and transfusion medicine in China."

"Golden Meditech is a respected medical leader with extensive knowledge of the China market," said Ron K. Labrum, Fenwal's president and chief executive officer. "Its people, technologies and infrastructure will complement Fenwal's current offerings in China. Together, we expect to create new opportunities to expand the market for advanced blood technologies that will benefit patients throughout China."

About Fenwal

Fenwal, Inc. became an independent company in 2007, but its roots go back to 1949 with the founding of Fenwal Laboratories. Fenwal developed the first flexible, disposable container for blood collection, eliminating complications associated with glass containers and allowing blood to be separated into therapeutic components. Today, the company's products and advanced collection and separation technologies are used throughout the world to help ensure a safe and available supply of lifesaving blood and blood products. Fenwal Inc. is based in Lake Zurich, Illinois. For more information, please visit http://www.fenwalinc.com .

About Golden Meditech

Founded in 2000, Golden Meditech was listed on the Growth Enterprise Market of the Stock Exchange of Hong Kong Limited (HKEX) in December 2001, as the first high-tech medical device enterprise that went public outside of the PRC, and was granted the main board listing in June 2009. During the past few years, thanks to its great efforts in innovation and market expansion, as well as its first-mover abilities in emerging markets, Golden Meditech's medical devices, cord blood banking services and natural herbal medicines have established leading positions. Going forward, Golden Meditech will continue its pursuit of becoming China's leading integrated medical group through organic growth, acquisitions and strategic investments. For more information, please visit http://www.goldenmeditech.com .

    For Golden Meditech
     Dennis Haikuan Lu
     +852-3605-8138
     dennis@goldenmeditech.com

    For Fenwal, Inc.
     Tanya Tyska
     +1-847-550-2732
     Tanya.Tyska@fenwalinc.com

     Geoffrey Fenton
     +1-847-550-2321
     Geoffrey.Fenton@fenwalinc.com

'/>"/>
SOURCE Golden Meditech; Fenwal, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Improving Transfusion Safety: Fenwal, Verax Biomedical Sign Agreement for Rapid, Point-of-Care Bacteria Test
2. China Sky One Medical, Inc. Signs Agreement with Taiwan Golden Biotechnology Corp. on Development of New Anti-Cancer Drug
3. Golden scales
4. Golden nanocrown
5. Emmy(R)- and Golden Globe(R)-Nominated Actress Marcia Cross to Join Lifetime Networks and Members of Congress From Both Parties at Capitol Hill Press Conference
6. Bioinformatics Expert Dr. Jiaan Yang Joins Sundia MediTech With Innovative PFSC Technology
7. Sundia MediTech Appoints Dr. Tong Xu as VP of Process Chemistry
8. Sundia MediTech in Deloitte Technology Fast 500 Asia Pacific List
9. Sundia MediTech and Xcovery Announce Big Success in Drug Discovery
10. Sundia MediTech Ranked #16 in Deloitte Technology Fast 50 China
11. AMICAS Announces Integrations at More Than 100 MEDITECH Facilities
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/23/2017)... ... May 23, 2017 , ... ... of human cardiovascular cells for research and the development of cardiac regeneration ... to generate large numbers of cardiomyocytes (hPSC-CMs). Due to varying differentiation efficiencies, ...
(Date:5/23/2017)... ... 2017 , ... Vortex Biosciences , provider of circulating tumor cell (CTC) ... cells using Vortex microfluidic technology ” in Nature Precision Oncology on May 8th. ... Carlo and Dr. Matthew Rettig at the University of California, Los Angeles. The publication ...
(Date:5/23/2017)... Massachusetts (PRWEB) , ... May 23, 2017 , ... ... making a splash at this year’s Bio-IT World Conference and Expo in ... Smart Data Lake® 4.0 solution. The Anzo Smart Data Lake is also a ...
(Date:5/22/2017)... ... 2017 , ... Cancer diagnostics and pathology workflow solution provider ... Association for Pathology Informatics Annual Summit at the Wyndham Grand Hotel ... Diagnostic Cockpit and Consultation Portal, Inspirata will present research it led to help ...
Breaking Biology Technology:
(Date:3/29/2017)... March 29, 2017  higi, the health IT company ... North America , today announced a Series ... acquisition of EveryMove. The new investment and acquisition accelerates ... tools to transform population health activities through the collection ... higi collects and secures data today on ...
(Date:3/23/2017)... The report "Gesture Recognition and Touchless Sensing Market by Technology (Touch-based and ... 2022", published by MarketsandMarkets, the market is expected to be worth USD 18.98 ... Continue Reading ... ...      ...
(Date:3/20/2017)... At this year,s CeBIT Chancellor Dr. Angela Merkel visited the ... the DERMALOG stand together with the Japanese Prime Minster Shinzo Abe. ... largest German biometrics company the two government leaders could see the three ... as DERMALOG´s multi-biometrics system.   Continue Reading ... ...
Breaking Biology News(10 mins):