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)... TX (PRWEB) , ... October 13, 2017 , ... ... planning agency serving communities in the greater Dallas, Miami, and Raleigh regions, is ... boy fighting to overcome a rare and deadly chromosome abnormality. , After struggling ...
(Date:10/13/2017)... ... 13, 2017 , ... As health professionals work to improve their approach to ... is doing more than filling out a survey; in many cases health professionals and ... in health care and research on the importance of active engagement with patients and ...
(Date:10/13/2017)... Ky. (PRWEB) , ... October 13, 2017 , ... The ... MPH to become its next President and Chief Executive Officer, succeeding Dr. James C. ... CEO Elect beginning July 1, 2018 until Dr. Puffer’s retirement at the end of ...
(Date:10/13/2017)... Vegas, Nevada (PRWEB) , ... October 13, 2017 , ... ... 7® Hemp CBD Oil utilizing Purzorb™ technology. Applying the Purzorb™process to full spectrum CBD ... dose required and providing a CBD form that can be easily incorporated into liquid ...
(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,” ...
Breaking Medicine News(10 mins):
(Date:9/22/2017)...  As the latest Obamacare repeal effort moves is ... (R-LA) and Lindsey Graham (R-SC) medical device ... industry is in an odd place.  The industry wants ... tax on medical device sales passed along with the ... increased visits and hospital customers with the funding to ...
(Date:9/19/2017)...   ZirMed Inc ., a recognized leader in cloud-based ... has been ranked #1 by its users for the seventh ... User Survey. ZirMed was recognized as the top-ranked end-to-end revenue ... centers over 200 beds and holds one of the longest ... history. ...
(Date:9/13/2017)... OrthoAtlanta has been named the official orthopedic and sports ... the 2018 College Football Playoff (CFP) National Championship to be ... Atlanta, Georgia . OrthoAtlanta is proud to ... in many activities leading up to, and including the national ... OrthoAtlanta ...
Breaking Medicine Technology: