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Golden Meditech Announces HK$217 Million Private Equity Financing for Hospital Subsidiary
Date:10/1/2009

HONG KONG, Oct. 1 /PRNewswire-Asia/ -- Golden Meditech Company Limited ("Golden Meditech" or the "Group"; Stock Code: 801.HK), a leading hi-tech medical device and healthcare service corporation in China, today announced that its hospital subsidiary - Golden Meditech Hospital Group (GMHG) has entered into an agreement to issue senior 5% redeemable convertible notes due in 2014 with an aggregate principal amount of US$28 million (equivalent to approximately HK$217 million). The monies raised will be used to accelerate business developments in China.

Under the agreement, GMHG will issue 15,747 new shares to investors upon full conversion, valuing the entire GMHG in excess of US$200 million. Upon full conversion, the note holder will hold approximately 13.61% of enlarged share capital of GMHG, and our holdings in GMHG will be diluted from current 60% to 51.8%.

Golden Meditech completed its strategic entry into China's hospital management and service market in June this year, and now owns the first nationwide management license granted by China government to a foreign entity.

Mr. KAM Yuen, Chairman of Golden Meditech said, "China's hospital management industry embraces a new era of development as the new medical reform aimed at separating hospital ownership and management and improving hospital operational efficiency will transform the hospital market entirely."

The successful private equity financing of GMHG have brought in renowned strategic investors from the healthcare industry. Through such a strategic collaboration, the group expects to accelerate the development of its hospital management operations in China, which in return generate significant profit contribution as well, he emphasized.

"Besides accelerating its expansion plan in China, this successful private equity financing will help create synergies effects between GMHG and other businesses we are currently operatin
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