Navigation Links
Golden Meditech Releases FY2008/09 Interim Results
Date:11/12/2008

Cord Blood Bank Services: Revenue Up 77%, and Pending Spin-Off and Listing

on NYSE

Strategic Investment: To Be Listed on NASDAQ

HONG KONG, Nov. 12 /Xinhua-PRNewswire-FirstCall/ -- China's leading integrated medical device and healthcare services provider, Golden Meditech Company Limited ("Golden Meditech" or "the Group", HKEx: 8180) today announced the interim results of financial year 2008/09. During the period under review, the Group has not only sustained high growth of key businesses, but also made significant progress with the proposed overseas listing of the umbilical cord blood bank business and market expansion beyond China.

In the first half of this year, the Group recorded turnover totaling HK$ 241,109,000, a 27% increase on a year on year basis.

Mr. KAM Yuen, Chairman and CEO of Golden Meditech, said that the Group, being a China-focused healthcare company, is benefited from the sustained growth of China's economy and the strong market dynamics of the healthcare industry. In the first six months of this year, revenues of the umbilical cord blood bank services and the ABRS consumables increased by 77% and 36% respectively. The cord blood bank services division has contributed up to 39% of the Group's total revenue, he noted.

He further explained that all the Group's key businesses have great potential to be explored. In domestic market, the Group sustained the high growth of umbilical cord blood bank business and reported over 45% increase of the newly sign-up customers during the period under review. The number of new sign-ups increased remarkably by over 75% in the second quarter on a year-on- year basis.

As part of its efforts to expand overseas, the Group, through CCBS, increased its strategic shareholding of Cordlife (Stock Code: CBB.AX) listed on Australia Stock Exchange and became the latter's single largest shareholder. This makes CCBS not only the largest cord blood bank operator in Southeast Asia, but also the World's largest in terms of the total addressable population. Along with the further development of the services in India, Indonesia and other countries, Asia will turn into the largest market of cord blood bank services.

Notable achievements have also been made with the proposed spinoff and U.S. listing of the cord blood bank businesses (China Cordblood Bank Services Corporation, "CCBS"). The Group and the selling shareholders of CCBS have signed agreements with a blank check company Pantheon China Acquisition Corp. ("Pantheon", OTC bulletin board listed) on the proposed sales of CCBS in exchange of Pantheon's ordinary shares at an agreed valuation of the entire CCBS at USD 350 million.

Once the proposed transactions are approved, CCBS will become Pantheon's principal business and Pantheon will be able to pursue listing onto the New York Stock Exchange at any appropriate time. This will make Golden Meditech the first hi-tech healthcare company that contemplates the spin-off and listing of its operations overseas since the establishment of the Growth Enterprise Market in Hong Kong.

The Group's jointly controlled company -- Pypo Digital Company Limited has also reached an agreement with a blank check company Middle Kingdom Alliance Corporation (OTC Bulletin Board listed) to sell all its shares at a valuation of USD 378 million. Once the proposed transaction is completed, the new company will be seeking for listing on NASDAQ.

The management believes that the proposed spin-offs of the two business entities will not only be beneficial to their developments, but also be able to generate long-term return to all Golden Meditech's shareholders.

For inquiry, please kindly contact:

Investor Relations Division

Golden Meditech Company Limited

Tel: +852-3605-8138

Fax: +852-3605-8181

Email: ir@goldenmeditech.com


'/>"/>
SOURCE Golden Meditech Company Limited
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Golden Corrals Good Health Recipe for the Flu Season
2. National Energy Services Receives Repeat Orders From Golden Living and Cathedral Rock Skilled Nursing Facilities
3. Giving Back to the Community Golden Corral Style
4. Golden Doctor of Chiropractic Elected President of the Colorado Chiropractic Association
5. Kaiser Permanente and Golden State Warriors Team Up to Fight Childhood Obesity
6. Histochemistry is the golden standard in the diagnosis of carcinosarcomas
7. Emmy(R)- and Golden Globe(R)-Nominated Actress Marcia Cross and Lifetime Television Deliver 20 Million Online Petition Signatures to Capitol Hill to Urge Congress to Stop Drive-Through Mastectomies
8. Author Elizabeth Golden and Dancer Sarah Patellos to Serve as National Spokespersons for the National Scoliosis Foundation
9. American Airlines Honors Flight Attendants at Golden Heart Awards Ceremony
10. Golden State Medical Supply Selects IBM Technology to Comply With California Prescription Drug Pedigree Regulations
11. Golden Rainbow Takes a Musical Journey for Its 22nd Annual Ribbon of Life Production Show
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/13/2017)... ... 2017 , ... The American Board of Family Medicine's (ABFM) Board of Directors ... Officer, succeeding Dr. James C. Puffer upon his retirement. Dr. Newton will serve in ... retirement at the end of 2018. Upon assuming the role of President and CEO ...
(Date:10/13/2017)... ... October 13, 2017 , ... PurhealthRX , a leading Health and Nutrition ... the Purzorb™process to full spectrum CBD oil will revolutionize the rapidly growing CBD market ... can be easily incorporated into liquid products, while reducing costs to end users. , ...
(Date:10/13/2017)... , ... October 13, 2017 , ... Lori R. Somekh, ... member of ElderCounsel, a national organization of elder law and special needs planning attorneys. ... and rules. It also provides a forum to network with elder law attorneys nationwide,” ...
(Date:10/13/2017)... ... October 13, 2017 , ... Many families have long-term insurance ... care insurance companies have a waiver for care if the client has a cognitive ... the family pays for care, is often waived, so the benefits from their insurance ...
(Date:10/13/2017)... NY (PRWEB) , ... October 13, 2017 , ... Ellevate ... people in business to advocate for action towards gender equality at their inaugural Summit ... from around the globe, and reached a social audience of over 3 million. To ...
Breaking Medicine News(10 mins):
(Date:9/25/2017)... , Sept. 25, 2017  EpiVax, Inc., a ... design, and immune-engineering today announced the launch of ... development of personalized therapeutic cancer vaccines. EpiVax has ... exclusive access to enabling technologies to the new ... will lead EpiVax Oncology as Chief Executive Officer. ...
(Date:9/22/2017)... 22, 2017 AVACEN Medical (AVACEN) announced that ... successfully helping those with the widespread pain associated with ... Amanda in Essex, England commented, ... hair, experiencing no sleep at all, tremendous pain, with ... cannot recommend [the AVACEN 100] enough, how this has ...
(Date:9/18/2017)... , Pa. and KALAMAZOO, Mich. , ... Allentown, Penn. , and OptiMed Specialty Pharmacy of ... business partnership to offer a strategic hub service that ... Healthcare,s highly sought-after personal spirometer, Spiro PD 2.0, and ... A spirometer is a medical device used to ...
Breaking Medicine Technology: