German KfW Development Bank-financed Projects Will Bring EUR10.8 Million in
BETHESDA, Md., July 11 /Xinhua-PRNewswire/ -- Chindex International, Inc. (Nasdaq: CHDX), an independent American provider of international healthcare services and Western healthcare products in the People's Republic of China, today announced that it has signed two contracts for the supply of EUR10.8 million of laboratory and hospital products to Centers for Disease Control in China's Gansu and Inner Mongolia provinces. The projects were awarded to Chindex's German subsidiary, Chindex China-Export GmbH, in late January, and the contracts were signed on Monday in a ceremony in Beijing attended by officials from the Chinese National Development and Reform Commission, Ministry of Finance, Ministry of Health, Ministry of Commerce, the German Embassy, and the German KfW Development Bank.
Speaking at the ceremony after signing the contracts, Chindex CEO Roberta Lipson stated, ''We are privileged to have the opportunity to work with the various Chinese Government entities represented here to undertake major upgrades to the Centers for Disease Control in Gansu and Inner Mongolia provinces. The execution of this program, made possible by the German Government through its KfW Development Bank, is very complex and demands the kind of specific loan and contract execution expertise that Chindex has developed. Now that the contracts have been finalized, we look forward to delivering the much-needed products as soon as possible."
Signing on behalf of the Chinese buyer, Minmetals International Tendering Co., Ltd., was General Manager Long Yu, who commented, ''We have worked with Chindex to procure medical equipment on many prior projects, and are pleased to be cooperating with Chindex again on this important project to bring much-needed equipment to China's CDCs. Chindex is a well-respected supplier and brings to this partnership more than 10 years of experience in executing government loan projects. We are confident that these contracts will be successful and mutually beneficial for all parties involved.''
Shipments under these contracts are expected to begin before the end of the calendar year after certain administrative matters are concluded. Chindex is involved in bidding and negotiating several other government-sponsored loan projects, and the Company continues to look to the growth of these programs as a primary driver of renewed profitability in its medical products business.
About Chindex International, Inc.
Chindex is an American healthcare company that provides healthcare services and supplies medical capital equipment, instrumentation and products to the Chinese marketplace, including Hong Kong. It provides healthcare services through the operations of its United Family Hospitals and Clinics, a network of private primary care hospitals and affiliated ambulatory clinics in China. The Company's hospital network currently operates in the Beijing and Shanghai metropolitan areas. The Company sells medical products manufactured by various major multinational companies, including Siemens AG and Intuitive Surgical, which are the Company's exclusive distribution partners for the sale and servicing of color doppler ultrasound systems and surgical robotic systems respectively. It also arranges financing packages for the supply of medical products to hospitals in China utilizing the export loan and loan guarantee programs of both the U.S. Export-Import Bank and the German KfW Development Bank. With twenty-seven years of experience, approximately 1,200 employees, and operations in China, Hong Kong, the United States and Germany, the Company's strategy is to expand its cross-cultural reach by providing leading edge healthcare technologies, quality products and services to Greater China's professional communities. Further company information may be found at the Company's websites, http://www.chindex.com and http://www.unitedfamilyhospitals.com .
Statements made in this press release relating to plans, strategies,
objectives, economic performance and trends and other statements that are
not descriptions of historical facts may be forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended
(the ''Securities Act''), and Section 21E of the Securities Exchange Act of
1934, as amended (the ''Exchange Act''). Forward-looking information is
inherently subject to risks and uncertainties, and actual results could
differ materially from those currently anticipated due to a number of
factors, which include, but are not limited to, the risk that the
performance of the contracts and the shipments and the timing thereof are
subject to certain customary conditions, the full satisfaction of which
cannot be assured, and the factors set forth under the heading ''Risk
Factors'' in our annual report on Form 10-K for the year ended March 31,
2008, updates and additions to those ''Risk Factors'' in our interim
reports on Form 10-Q, Forms 8-K and in other documents filed by us with the
Securities and Exchange Commission from time to time. Forward-looking
statements may be identified by terms such as "may", "will", ''should'',
''could'', ''expects'', ''plans'', ''intends'', ''anticipates'',
''believes'', ''estimates'', ''predicts'', ''forecasts'', ''potential'', or
''continue'' or similar terms or the negative of these terms. Although we
believe that the expectations reflected in the forward-looking statements
are reasonable, we cannot guarantee future results, levels of activity,
performance or achievements. We have no obligation to update these forward-
For more information, please contact:
Judy Zakreski or Lawrence Pemble
Chindex International, Inc.
|SOURCE Chindex International, Inc.|
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