Navigation Links
China Cord Blood Corporation Acquires Stake in Shandong Cord Blood Bank
Date:2/24/2010

HONG KONG, Feb. 24 /PRNewswire-Asia-FirstCall/ -- China Cord Blood Corporation ("CCBC" or "the Company") (NYSE: CO), China's first and largest cord blood bank operator in terms of geographic coverage, today announced that as part of its nationwide expansion strategy, it has entered into an agreement to acquire an effective 19.92% equity interest in Shandong Cord Blood Bank ("SCBB") for US$20.5 million (equivalent to HK$159.36 million) in an all-cash transaction. The Company intends to use its available cash to fund the acquisition. For the year ended December 31, 2010, CCBC's equity interest in SCBB is expected to yield dividend income of US$1.04 million (approximately to RMB7.07 million).

SCBB holds the exclusive license to provide cord blood services to eastern China's affluent Shandong Province. Upon the completion of the transaction, CCBC will own an indirect 19.92% interest in SCBB and is entitled to the right of first refusal on future transfers of SCBB equity interest, allowing it to expand its position in the future.

In China, the government enforces a one-license-per-region policy for operating cord blood banks, and so far it has only granted six licenses nationwide. Of those six, the Company holds two (to operate in Beijing and Guangdong Province) and this acquisition grants access to the third. No other company holds more than one of the remaining licenses.

Ms. Tina Zheng, Chairperson and CEO, said, "We are very pleased about the SCBB acquisition, which marks an important milestone in our Company's development of a nationwide business. We are also very excited about the prospects of China's cord blood storage industry, given its unique business environment and the size of its addressable market. This strategic expansion will increase CCBC's competitive advantage by enlarging the size of our potential market to three provinces with over 2.1 million new births per annum, representing growth of 1.1 million new births per annum. This, in turn, is expected to further drive CCBC's business growth and reinforce our dominance in China. We will leverage our in-depth market knowledge, hospital resources and marketing experience from our Beijing and Guangdong operations to enhance the Shandong operation."

Ms. Zheng continued, "Through this acquisition, we will demonstrate to investors our distinct ability to deliver results. We believe a successful consolidation will place us in a strategically advantageous position and pave the way for future corporate developments and strategic alliances within China."

Audio Webcast

The Company will hold an audio webcast at 8:00 a.m. US ET / 9:00 p.m. HKT on Thursday, February 25, 2010 to give a brief overview of the Company's developments on the acquisition, followed by a question and answer session.

Interested parties may access the audio webcast by following the below link: http://phx.corporate-ir.net/playerlink.zhtml?c=206671&s=wm&e=2764714 . A replay of the webcast will be accessible two hours after the presentation and will remain available for a year at the same URL link above.

To participate in the question and answer session, please dial 1-718-354-1231 or 1-866-519-4004 for US callers or +852 2475-0994 for Hong Kong callers, conference access id: 58763462. Please dial-in 10 minutes before the question and answer session begins to ensure proper connection.

About China Cord Blood Corporation

China Cord Blood Corporation is the first and the largest cord blood banking operator in China in terms of geographical coverage and is the only cord blood bank operator with more than one license (i.e., Beijing and Guangdong). Under the current PRC government regulations, only one licensed cord blood bank operator is permitted to operate in each licensed region and only six licenses has been issued 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 about China Cord Blood Corporation, please visit: http://www.chinacordbloodcorp.com .

Forward-looking Statements

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Certain of the statements made in the press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding the progress of new product development. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in the People's Republic of China, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.

    For more information, please contact:

     China Cord Blood Corporation
     Ms. Joe-ling Law
     Phone: +852-3605-8180
     Email: ir@chinacordbloodcorp.com

    ICR, Inc.

    In the United States:
     Ashley M. Ammon
     Phone: +1-646-277-1227

     Christine Duan
     Phone: +1-203-682-8200

    In China:
     Wei-Jung Yang
     Phone: +86-10-6599-7968

SOURCE China Cord Blood Corporation

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

Related medicine news :

1. The 32nd Annual Los Angeles Chinatown Firecracker 5K/10K Run, Bike Ride, and Nite N Day Festival Celebrates the Year of the Tiger This Weekend
2. New Multivitamins Target Concern Over China's Quality Problems
3. Media, small businesses invited to ACS Webinar on ways to take advantage of Chinas dynamic growth
4. GNC Announces Entry to Chinas Nutritional Products in Partnership with Bright Food
5. Spine Surgeon from China Visits Panorama Orthopedics & Spine Center
6. China Cord Blood Corporation Warrant Registration Statement Declared Effective by SEC
7. MIT China joint venture is preparing a major commercial launch in July 2010
8. Major milestone achieved by our joint venture in China
9. Jion Beijing Great Wall International Travel Agency Immediate Exposure to China Expo 2010
10. China Sky One Medical, Inc. Featured by Science and Technology Daily
11. Significant urban-rural disparities in injury mortality seen in China
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/12/2016)... Angeles, CA (PRWEB) , ... February 12, 2016 , ... ... With a hectic schedule, a demanding job, and no time to decompress, Rabinowitz found ... she dedicated herself to meditation for its impact on her life, implementing a 20-minute-per-day ...
(Date:2/12/2016)... ... February 12, 2016 , ... The ... Zuckerberg San Francisco General Hospital on April 5-7. The series is a multi-day, ... new habits. The workshops cover a broad range of topics, including coaching skills, ...
(Date:2/12/2016)... ... February 12, 2016 , ... Fisher House Foundation Chairman and CEO Kenneth Fisher ... Military Support Alliance president Scott Bensing, and Peggy Kearns Director, VA Southern Nevada Healthcare ... System. This will be the first Fisher House in Nevada, and will provide ...
(Date:2/12/2016)... ... ... Vail knee specialist Robert LaPrade, MD, PhD was named one of ... of physicians establishing, leading and partnering with ambulatory surgery centers across the United States. ... also known as an ASC, is a modern health care facility focused on providing ...
(Date:2/12/2016)... ... February 12, 2016 , ... Donor Network West, the organ procurement organization ... a partnership with San Ramon Regional Medical Center. Under the collaboration, the first of ... way to accommodate a more certain time frame for donor families for the recovery ...
Breaking Medicine News(10 mins):
(Date:2/11/2016)... The primary goal of this research is ... the usage of liquid biopsy. Key information the survey ... Timeframe of liquid biopsy adoption amidst future users - ... type - Sample inflow to conduct liquid biopsy tests ... and so on. - Correlation analysis of sample type ...
(Date:2/11/2016)... OAKLAND, Calif. , Feb. 11, 2016  Walgreens ... stores across 39 states and Washington, D.C. ... in a move that was commended by shareholder advocacy organization ... President at As You Sow. "Many people hold on to ... options, which can have tragic consequences." --> ...
(Date:2/11/2016)... 2016  MiMedx Group, Inc. (NASDAQ: MDXG ), ... and other birth tissues, human skin and bone, and ... advanced products and therapies, announced today that it will ... Conference in New York , NY.  ... J. Senken , Chief Financial Officer and Chris ...
Breaking Medicine Technology: