Golden Meditech Pioneers into China's Hospi...( HONG KONG June 25 /Xinhua-- The B...),Health

HONG KONG, June 25 /Xinhua-PRNewswire-FirstCall/ -- The Board of Directors of Golden Meditech Company Limited (the "Company"; stock code: 8180.HK) is pleased to announce today that the Company has made significant progress in entering China's hospital management market through the acquisition of Topshine Hospital Management (China) Company Limited and Daopei Hospitals Group, the largest private haematologist hospitals with presence in Beijing and Shanghai in China. Upon completion, the company will become the first foreign institution in China granted with a license to manage and provide nationwide management consultancy to hospitals in China.

Pursuant to the terms of the agreement, Golden Meditech will acquire 70% of contributor's interests in the Daopei Hospitals Group and 60% equity interests in Topshine Hospital Management Company (China) Limited for an aggregate cash consideration of HK$830 million.

Once the proposed transaction is completed, Golden Meditech will obtain the rights to manage hospitals nationwide. This marks the first time for a foreign institution to offer nationwide hospital management consultancy in China.

Mr. KAM Yuen, Chairman of Golden Meditech, explains that acquiring the Daopei Hospitals, the largest and most renowned hematologist hospital in China, represents a significant move by the company to optimize its business structures and strengthen its presence in China's healthcare industry. Tremendous synergies will be created with the Company's existing businesses especially in the areas of healthcare services, cord blood stem cells clinical applications and manufacture and sales of medical devices.

Mr. KAM Yuen points out through this acquisition, Golden Meditech will not only gain the opportunity to enter into the high-threshold hospital management industry, but also inherit experienced and seasoned medical staff and management teams, in addition to generating stable earnings. In future, the Company plan
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