Navigation Links
CordLife Secures Strategic Presence in China
Date:12/15/2009

    HONG KONG, Dec. 15 /PRNewswire-Asia/ --

    Key points:

    -- CordLife secures strategic stake in China Stem Cells (South) Company
       Limited with US$10 million investment.
    -- The deal gives CordLife exclusive access to about 1 million new births
       in the province of Guangdong annually.
    -- CordLife's geographical footprint in Asia Pacific is enlarged, with
       direct access to China and India, two of the largest and fastest
       growing cord blood banking markets in the world.

CordLife Limited ("CordLife" or "the Company") announced that it has completed a Sale and Purchase Agreement with existing minority shareholders of China Stem Cell (South) Company Limited ("CSC South") for a 10 per cent stake. This US$10 million investment provides CordLife a foothold in one of the largest and fastest growing cord blood banking markets in the world. The access to this nascent market will be a catalyst to accelerate the growth of Company.

(Logo: http://www.prnasia.com/sa/2009/08/14/200908141521.jpg )

CSC South directly owns a 100 per cent equity interest in one of the largest cord blood banks in Asia, Municipality Tianhe Nuoya Bio-engineering Co. Ltd ("Nuoya"). Established since 2006, Nuoya is the sole licensed cord blood banking operator in Guangdong province, one of the most prosperous and populous provinces in China. It has exclusive and full access to about 1 million new births in the province annually by virtue of the licensing rules in the country. Adopting a channel-based strategy to access the market, Nuoya has developed strategic sales and marketing network through more than 90 major hospitals in the province to tap on the market's fast-growing demand for cord blood banking services.

"Our investment in CSC South is a significant part of the Company's growth strategy. As a result of this investment, CordLife now has direct access to China and India, two of the largest and fastest growing cord blood banking markets in the world. These markets are critical in driving long-term sustainable growth for the Company," said Mr Steven Fang, Group CEO of CordLife Limited, who will be on CSC South's board of directors.

The investment could potentially create financial benefits for CordLife. A potential increase in the intrinsic value of the investment may be expected in the medium term if Nuoya is able to capitalize on the vast market potential and increase its clientele base. Business synergy could also be achieved through CordLife's subsidiary in Hong Kong with collaborative opportunities to systematically market the Company's cord blood banking services to about 20,000 Chinese nationals who deliver in Hong Kong.

About CordLife Group

CordLife operates Asia Pacific's most experienced and largest network of stem cell banks with full processing and cryopreservation storage facilities in Australia, Singapore, Hong Kong, Indonesia and India as well as marketing operations in Macau, Philippines and Thailand. The Group's in-depth knowledge of stem cell banking practices and standards are recognised by many international Quality Standard organizations such as the American Association of Blood Banks (AABB), Therapeutic Goods Administration (TGA) and International Organisation for Standardisation (ISO). In 2006, CordLife became the only stem cell bank in the world to be awarded the prestigious World Economic Forum 'Technology Pioneer'. CordLife is listed on the Australian Securities Exchange, under the stock code; CBB. For more information on the CordLife group of companies, please visit http://www.cordlife.com .

    For further information, please contact:

    Cynthia Chow, Marketing Manager
    CordLife (Hong Kong) Ltd
    Tel:   +852-2511-8881 / +852-9400-2400
    Email: cynthia.chow@cordlife.com

    YY Wong, Senior Marketing Executive
    CordLife (Hong Kong) Ltd
    Tel:    +852-2511-8881 / +852-9518-9988
    Email:  yuenying.wong@cordlife.com

SOURCE CordLife


'/>"/>
SOURCE CordLife
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. CordLife Makes Headway into China
2. Golden Meditech Increases Stakes in Cordlife, Largest Cord Blood Bank Operator in Southeast Asia
3. PharmMD Secures Investments to Fund New Opportunities in Medication Therapy Management
4. Independence Blue Cross Secures All-Blue Contract with Lincoln Financial Group
5. Raphaelson & Levine Secures $1.1 Million Verdict for Victim of New York Construction Accident
6. Blue Sky Scrubs Secures a Second Texas Manufacturer
7. Duffy & Duffy Secures $3.1 Million Verdict in Nassau Supreme Court
8. The Ensign Group Secures $40 Million Loan From GE Capital, Healthcare Financial Services
9. AcceleDent System From OrthoAccel Technologies, Inc. Secures Medical Device Regulatory Clearance to Market in Australia
10. Leahy Secures Funds to Support Adoption of Electronic Prescribing in Vermont
11. Go Healthy Secures Nationwide Distributorship Rights to Patented Drinking Water
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/25/2017)... ... September 25, 2017 , ... Dr. Edward Hebert is celebrating ... imagine doing anything else,” said Dr. Hebert. “I count my blessings daily for the ... with my patients is what I look forward to the most. The relationships I ...
(Date:9/25/2017)... ... September 25, 2017 , ... “Grandpa's Visit”: a tender and ... share with the others. “Grandpa's Visit” is the creation of published author, Beverly Brumfield, ... is much like the character in her book. She shares, “Mr. Rice is struggling ...
(Date:9/25/2017)... ... , ... The trend-spotters, tastemakers, and healthy lifestyle product experts at the ... drinks, with the new NEXTY Gold Award at the Natural Products Expo East trade ... which is reserved for just those companies that hit high marks on the criteria ...
(Date:9/25/2017)... ... September 25, 2017 , ... Emerald Ash Borers kill Ash trees in as ... throughout the Philadelphia region. A video by Rob Nagy, ISA Certified Arborist at Giroud ... While several are dead or showing signs of decline from Emerald Ash Borers, two ...
(Date:9/24/2017)... ... ... Andrea Purcell, NMD, had an epiphany one evening. Four months pregnant, she sat sobbing at ... pregnancy was so hard. She wondered why no one talks about what it is really ... she decided to write what she wished her friends and colleagues could have told her: ...
Breaking Medicine News(10 mins):
(Date:9/6/2017)... NeuroRx, a clinical stage biopharma company developing the ... has been granted Fast Track status by the US Food ... HCl) followed by NRX-101 (D-cycloserine + lurasidone). The company will ... sequential therapy targeting patients who are admitted to Emergency Departments ... ...
(Date:9/5/2017)... , Sept. 5, 2017  Just 18 months after ... is pleased to announce the appointment of three new ... Wynne , Dominic Jones-Phillips and James ... Tammy Wynne ... of market access writers. She has over ten years, ...
(Date:8/31/2017)... , Aug. 31, 2017 PM360,s annual ... guide to the latest innovations happening across the industry. ... publication to focus on providing a comprehensive look at ... issue covers the most innovative companies, startups, divisions, products, ... "Everyone in this industry wants ...
Breaking Medicine Technology: