Navigation Links
China Medical Technologies Announces the Completion of the Sale of its HIFU Business
Date:12/30/2008

is interest in purchasing the HIFU Business. To ensure that the sale would be conducted on an arm's length basis on terms which were consistent with market practice, the Company engaged a qualified and reputable international firm to carry out an independent valuation of the HIFU Business and received a fair value range between RMB361.2 million (US$52.9 million) and RMB419.3 million (US$61.4 million). The final selling price after negotiation was determined at US$53.5 million. In accordance with the listing rules of NASDAQ and the Company's internal corporate governance rules, the proposal for the sale of the HIFU Business was presented to the Company's audit committee and board of directors for evaluation and approval before the Company entered into an agreement with Chengxuan, a company owned by Mr. Xiaodong Wu, for the transaction. The Company's audit committee consisting of three independent directors approved the proposal after careful consideration of relevant facts and circumstances and submitted the proposal to the board of directors for further evaluation and approval. The Company's board of directors consists of four independent directors, Mr. Sam Tsang, the Chief Financial Officer and Mr. Xiaodong Wu, the Chief Executive Officer. Mr. Xiaodong Wu did not participate in the voting with respect to the sale of the HIFU Business.

As the Company has completed the sale of the HIFU Business, the Company becomes a pure advanced IVD company. The Company expects to use the proceeds from the sale of the HIFU Business to support the further development of the fast growing molecular diagnostic businesses and strives to become the leading molecular diagnostic company in China.

For the convenience of readers, certain RMB amounts have been translated into U.S. dollars at the rate of RMB6.8254 to US$1.00, the noon buying rate in New York City for cable transfers of RMB per U.S. dollar as certified for customs purpo
'/>"/>

SOURCE China Medical Technologies, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3 4 5

Related medicine news :

1. Chinas 1-child policy could backfire on its elderly
2. Omnicom Acquires Leading Healthcare Marketing Communications Firm in China
3. Expanding Prevalent Population Will Drive Dramatic Growth for the Asthma Drug Market in China
4. Bridgetech Announces Addition of the Agency for Healthcare Research and Quality as Content Provider in its Development of a Healthcare Web Portal in China
5. China Holdings Appoints Ronald Shon Chairman of Advisory Board to Its Wholly-Owned Subsidiary China Power, Inc.
6. China Bionanometer Industries Corporation Promotes New Cosmetics Product Line in China
7. China Shenghuo Pharmaceutical Holdings, Inc. Begins Full-Scale Launch of 12Ways(R) Chinese Herbal Skin Care Product Line
8. Statement by Mike Leavitt Secretary of Health and Human Services on the United States-China Bilateral Meetings on Food and Drug Safety
9. Supplier Assessments to Help Buyers Identify Reliable China Exporters
10. Study shows lead-based paint problem isnt isolated to China
11. Bracco Announces Initiative to Save Children in China at 2007 Annual Meeting of CGI
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/28/2015)... 28, 2015 How best to treat ... field in orthopaedic medicine. While diagnostic hip injections are ... the pain etiology, research presented today at the American ... Day suggests that pain relief from this diagnostic injection ... , “Our study looked to assess if the ...
(Date:3/28/2015)... 28, 2015 Early surgery may not ... V AC joint injuries, according to new research from ... the American Orthopaedic Society for Sports Medicine’s ( AOSSM ... faster when surgery was not performed. , The final ... surgical treatment and 17 receiving non-surgical therapy. Of the ...
(Date:3/28/2015)... Andrew Hawley of Vintage Rock Posters Inc., has announced ... Who and the Doors played together at the Singer Bowl ... Hawley, “The Who toured the United States heavily from 1967 ... the most famous Who poster was a poster created to ... August 2, 1968 at the Singer Bowl in Flushing, New ...
(Date:3/28/2015)... (PRWEB) March 28, 2015 Aureus ... healthcare staffing, including physical therapy jobs, has announced ... the Ohio Physical Therapy Association Annual Conference to ... Columbus Downtown Hotel in Columbus, OH. , ... opportunities, and exhibits with products and services. ...
(Date:3/28/2015)... March 28, 2015 The "Petrick ... of sustainable health. After 18 years of research and ... professional UFC contenders, Dr. Jon Petrick is excited to ... Just some of the immediate benefits of this radical ... increased levels of strength of the immune system, faster ...
Breaking Medicine News(10 mins):Health News:Pain Injections for Hip Arthroscopy Patients May Not Predict Surgical Outcomes 2Health News:For Type V AC Joint Injuries, Early Surgery May Not Be the Best Approach 2Health News:Avid Collector from Vintage Rock Posters, Inc. Announces His Search For Original 1960's Who Psychedelic Concert Posters. 2Health News:Healthcare Staffing Leader, Aureus Medical Group, to Exhibit at the Ohio Physical Therapy Association Annual Conference 2Health News:Celebrity Chiropractor Jon Petrick to Release Sustainable Health System this Summer 2
... Joins International Observance To Draw Attention To "The Sneak Thief ... In an effort to combat one of the leading causes ... Glaucoma Patient Organization have set March 12, 2009, as the ... be marked by awareness and educational events organized by eye ...
... Services, Inc. (NYSE: WST ) announced today ... before the market opens on Thursday, February 19, 2009 ... the results and business expectations at 9:00 a.m. Eastern ... or (210)839-8398. The passcode is WST.A live broadcast of ...
... of New York Health AdvisoryNEW YORK, Feb. 12 ... children in New York City, according to the United ... research suggests that there are many causes for asthma ... immune system changes that result from the presence, or ...
... Available to a Wider Medical Market through Nation,s Largest GPO ... ... Medical Devices, an industry leader in infection control products, has recently ... largest and most respected GPOs, or group provider organizations. As Novation ...
... of image management services for endovascular imaging and ... made a contribution to the Open the Pathway ... the Pathway is an initiative that was established ... commitment to vascular treatment planning, post-operative patient outcomes ...
... Dynatronics Corporation (Nasdaq: DYNT ) will release ... December 31, 2008 during the morning of Friday, February ... investors later that day at 1:00 p.m. ET to ... periods. Those interested in participating should call 800-839-9416 ...
Cached Medicine News:Health News:World Glaucoma Day Set For March 12, 2009 2Health News:World Glaucoma Day Set For March 12, 2009 3Health News:World Glaucoma Day Set For March 12, 2009 4Health News:West to Host 2008 Fourth Quarter Conference Call 2Health News:Home Care Tips for Reducing the Risk of Childhood Hospitalizations Due to Asthma 2Health News:Home Care Tips for Reducing the Risk of Childhood Hospitalizations Due to Asthma 3Health News:Inviro Medical Devices Is Awarded a Three Year Contract with Leading GPO Novation 2Health News:M2S, Inc. Makes Contribution to American Vascular Association 2Health News:M2S, Inc. Makes Contribution to American Vascular Association 3
(Date:3/27/2015)... NEW YORK , March 27, 2015 ... in Santa Ana, California is a ... market for which is estimated at $22 billion in the ... includes the use of FDA-approved Naltrexone in a specially compounded ... (excluding Australia and New ...
(Date:3/27/2015)... Across the global healthcare landscape, the Medical ... development, market education, and regulatory compliance. As emerging markets ... is expected to increase in prominence and follow the ... to research by benchmarking firm, Best Practices, LLC, all ... Medical Affairs. Among companies in India ...
(Date:3/27/2015)... March 27, 2015  The quality function within the ... products meet quality standards at every stage of the ... quality leaders also have the challenge of balancing quality ... Those who don,t effectively balance these priorities risk funding ... marketplace failure and regulatory scrutiny. For the ...
Breaking Medicine Technology:Small Cap IR Correction -- BioCorRx Inc. Positions Itself Through Strategic Partnerships To Gain Market Share Of The $22 Billion Substance Abuse Treatment Market In The U.S. 2Medical Affairs Capabilities Expanding in Emerging Marketplaces 2New Medical Device Quality Study Finds Regulatory Environment is Boosting Quality Spending, Especially for Large Companies 2
... MOUNTAIN VIEW, Calif., Feb. 28, 2011 VIVUS, ... to the development and commercialization of novel therapeutic products, today ... and year ended December 31, 2010. ... development program, we successfully completed the two-year SEQUEL study, an ...
... The staffs of Chiltern International Limited (Chiltern), a global ... 25 year mark of their successful collaboration in Drug ... have worked together using a validated and regulatory accepted ... assessment of drug phototoxicity. The history of this collaboration ...
Cached Medicine Technology:VIVUS Reports 2010 Fourth Quarter and Full-Year Financial Results 2VIVUS Reports 2010 Fourth Quarter and Full-Year Financial Results 3VIVUS Reports 2010 Fourth Quarter and Full-Year Financial Results 4VIVUS Reports 2010 Fourth Quarter and Full-Year Financial Results 5VIVUS Reports 2010 Fourth Quarter and Full-Year Financial Results 6VIVUS Reports 2010 Fourth Quarter and Full-Year Financial Results 7Chiltern - Spectratox Drug Photoxicity Collaboration Celebrates 25 Years 2Chiltern - Spectratox Drug Photoxicity Collaboration Celebrates 25 Years 3
... sophisticated research tool that allows to see ... is being stimulated. Besides it also includes ... to switch between the pupil picture and ... This system is especially suited for animal ...
The only air-based esthesiometer with a database of normal sensation on the cornea. May have application to the measurement of normal-tension glaucoma....
Kelly Punches...
... The CSV- lOOOHGT instrument provides standardized glare testing. ... Vectorvision test faces for the evaluation of glare ... is precisely calibrated to simulate two on-coming halogen ... feet. The glare level can be adjusted to ...
Medicine Products: