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:5/2/2015)... As one of only 30 Illinois ... and Health Achievement and Recognition Program (SHARP) certification, ... by the Illinois Department of Labor to host this ... SHARP certification by the Occupational Safety and Health Administration’s ... continued to meet or exceed all of the necessary ...
(Date:5/2/2015)... NY (PRWEB) May 02, 2015 It’s ... a deadly natural disaster strikes anywhere on this planet, ... leverage human sympathy and compassion for their own personal ... States Computer Emergency Readiness Team) issued an alert ... “of potential email scams citing the earthquake in Nepal. ...
(Date:5/2/2015)... TX (PRWEB) May 02, 2015 ... skin laxity issues of the face, neck and ... new concept with real potential for the success ... by the ThermiHealth Clinical Advisory Council, ThermiGyn’s Women’s ... FACOG, FACS, ACGE, concluded that ThermiGyn’s temperature controlled ...
(Date:5/1/2015)... 2015 Pioneer Millworks, the largest reclaimed ... in their reclaimed wood products at the 27th annual ... Center in NYC this May. Their newest offerings, Vat ... anticipated texture and color to North America's platform for ... texture and color in the design world and we're ...
(Date:5/1/2015)... May 01, 2015 It’s raining bills on ... introducing proposals to expand federal support for telemedicine. ... ATA has been working with Congress,” said Jonathan Linkous, CEO ... how the nation is poised to embrace the use of ... more step in fulfilling ATA’s mission to improve quality, access, ...
Breaking Medicine News(10 mins):Health News:Essentra Specialty Tapes is Selected to Host Gov. Rauner and the Workers' Memorial Day Celebration 2Health News:Essentra Specialty Tapes is Selected to Host Gov. Rauner and the Workers' Memorial Day Celebration 3Health News:Cyber Aftershocks from Nepal’s Earthquake Can Cripple Businesses Right Here at Home 2Health News:Cyber Aftershocks from Nepal’s Earthquake Can Cripple Businesses Right Here at Home 3Health News:Cyber Aftershocks from Nepal’s Earthquake Can Cripple Businesses Right Here at Home 4Health News:Study Demonstrates Efficacy of Temperature Controlled Radiofrequency for Vulvovaginal Laxity 2Health News:Study Demonstrates Efficacy of Temperature Controlled Radiofrequency for Vulvovaginal Laxity 3Health News:Intensely Textured Reclaimed Wood to be Unveiled at ICFF in NYC by Pioneer Millworks 2Health News:Intensely Textured Reclaimed Wood to be Unveiled at ICFF in NYC by Pioneer Millworks 3Health News:ATA: Congress Floods the Halls with Telemedicine Proposals 2
... 27 (HealthDay News) -- Disabled adults are at higher ... aren,t disabled, new research finds. Those with mental ... having experienced physical, sexual or "intimate partner" violence during ... Feb. 27 in The Lancet . For ...
... warranted for older men with prostate cancer and a short ... Feb. 27 Archives of Internal Medicine. ... said senior author on the study Cary Gross, M.D., associate ... men who are older and have less aggressive forms of ...
... HealthDay Reporter , MONDAY, Feb. 27 (HealthDay News) -- ... want to look out. That,s the message of a new ... are more likely to cut off pedestrians and ignore stop-sign ... habits, either. Other lab-based experiments done by the researchers found ...
... 27 (HealthDay News) -- A potentially dangerous heart rhythm problem ... physical decline in older people at risk for heart disease, ... in the Canadian Medical Association Journal , researchers analyzed ... 40 countries, aged 55 and older. All of the participants ...
... at Harbor-UCLA Medical Center (LA BioMed) recently announced that ... of the Center for Reproduction and Infertility at Women ... Center, as one of its three "Legends" this May. ... recognized contributions to medicine through research and innovative clinical ...
... that patients with chronic myeloid leukemia (CML) who have ... they switch to the targeted drug imatinib. Published early ... the American Cancer Society, the study indicates that imatinib ... Imatinib, a drug that blocks the protein made by ...
Cached Medicine News:Health News:Disabled Adults More Apt to Be Victims of Violence: Study 2Health News:Prostate cancer treatment overused in some older patients 2Health News:Are the Rich Really Different From You and Me? 2Health News:Are the Rich Really Different From You and Me? 3Health News:Irregular Heartbeat May Predict Mental Decline in Some 2Health News:Physician to be honored as 'Legend' 2Health News:Physician to be honored as 'Legend' 3
(Date:5/1/2015)... Corporation (NASDAQ: THOR ), a world leader in mechanical ... announced today that Marta Antonucci has joined Thoratec ... This new Europe -based position is responsible ... America , including Europe , ... , and reports directly to the Chief Executive Officer. Following the ...
(Date:5/1/2015)... 1, 2015  CytRx Corporation (CYTR), a biopharmaceutical ... reported financial results for the three months ended ... recent accomplishments and upcoming milestones for its clinical ... in the early months of 2015, including the ... of aldoxorubicin in patients with soft tissue sarcoma, ...
(Date:5/1/2015)... The Institute for Healthcare Advancement (IHA) is ... The IHA Health Literacy Awards aim to encourage, recognize ... practice of educating or empowering organizations to deliver clear ... three categories: innovative programs, published materials and research. This ... In the area of innovative programs, the ...
Breaking Medicine Technology:Thoratec Announces Addition To Senior Management Team 2Thoratec Announces Addition To Senior Management Team 3CytRx Reports First Quarter 2015 Financial Results 2CytRx Reports First Quarter 2015 Financial Results 3CytRx Reports First Quarter 2015 Financial Results 4CytRx Reports First Quarter 2015 Financial Results 5CytRx Reports First Quarter 2015 Financial Results 6CytRx Reports First Quarter 2015 Financial Results 7CytRx Reports First Quarter 2015 Financial Results 8CytRx Reports First Quarter 2015 Financial Results 9CytRx Reports First Quarter 2015 Financial Results 10CytRx Reports First Quarter 2015 Financial Results 11Institute for Healthcare Advancement Announces 2015 Award Winners 2
... SYDNEY, May 23, 2011 Starpharma Holdings Limited (ASX: ... major phase 2 clinical study that demonstrated efficacy of ... Key Points: VivaGel(R) ... BV VivaGel(R) expected to avoid many shortcomings of ...
... Advanced Life Sciences Holdings, Inc. ... its Annual Meeting of Shareholders, which was previously scheduled ... (Logo:   http://photos.prnewswire.com/prnh/20080218/ALSLOGO ) ... Sciences is a biopharmaceutical company engaged in the discovery, ...
Cached Medicine Technology:VivaGel(R) Demonstrates Efficacy in Bacterial Vaginosis 2VivaGel(R) Demonstrates Efficacy in Bacterial Vaginosis 3VivaGel(R) Demonstrates Efficacy in Bacterial Vaginosis 4VivaGel(R) Demonstrates Efficacy in Bacterial Vaginosis 5
... reference laboratory and a worldwide leader in ... an extensive test menu of highly complex ... anatomic pathology. Owned by the University of ... half of the nation's university teaching hospitals ...
... national reference laboratory and a worldwide leader ... offers an extensive test menu of highly ... and anatomic pathology. Owned by the University ... than half of the nation's university teaching ...
... national reference laboratory and a worldwide leader ... offers an extensive test menu of highly ... and anatomic pathology. Owned by the University ... than half of the nation's university teaching ...
... Laboratories is a national reference laboratory and ... and development. ARUP offers an extensive test ... tests in clinical and anatomic pathology. Owned ... clients include more than half of the ...
Medicine Products: