SHENZHEN, China, May 12 /PRNewswire-Asia/ -- Winner Medical Group Inc.'s (OTC Bulletin Board: WMDG; "Winner Medical", or the "Company") wholly-owned subsidiary, Winner Industries (Shenzhen) Co., Ltd., "Winner Shenzhen", and Chengdu Likang Industries Co., Ltd., "Likang", today announced the establishment of a joint venture in Chengdu, China to pursue medical dressing product markets opportunities in West China.
Likang is a subsidiary of West China Hospital, which engages in the business of marketing and sales of pharmaceutical products and medical equipments to West China Hospital and other hospitals in Western China. West China Hospital is a university-owned hospital, and it is the biggest single hospital in the world, with over 4,000 beds, 36 clinical departments, 15 medical technology departments, and over 300 network hospitals. In 2007, West China Hospital served 107,112 in-patients and 2,354,354 out-patients.
The joint venture company, to be named Chengdu Winner Likang Medical Appliances Company Limited, has a registered capital of RMB 5 million, which is approximately equivalent to USD $0.73 million, will be 51% owned by Likang, and 49% by Winner Shenzhen, and is expected to begin operation in July, 2009.
Combining the production capabilities and management expertise of Winner Medical and the existing and future market opportunities of Likang, the new joint venture will develop an overall business strategy for the Winner brand to be sold to hospitals in Western China. The new joint venture will be located at Chengdu, the capital city of Sichuan Province, and the center of Western China. The proposed joint venture will create a new industry leader in Western China offering a large production and logistic center of medical disposable products, a full range of hospital retail network, and a university supported clinical research base.
Likang and West China Hospital noted that Winner Medical has a strong and strict production and quality control system, and widely recognized brand name in the international and domestic markets. Likang said establishment of production facilities will make an important contribution to achievement of its long-term vision to achieve solid growth.
Winner Medical said the establishment of the joint venture aims to gain market share in the hospital market in Western China and capture the current opportunities of medical reform in China. Likang provides an optimal platform for Winner Medical to expand its business in the domestic market in China.
About Winner Medical
Winner Medical is a leading manufacturer in the medical dressing industry (medical and wound care products) in China. Headquartered in Shenzhen, the Company has eight wholly-owned manufacturing and distribution facilities, four joint-venture factories and over 5,000 employees. The Company engages in the manufacture, sale, research, and development of medical care products, wound care products, home care products and PurCotton products, a nonwoven fabric made from 100% natural cotton. The products are sold worldwide, with Europe, the U.S. and Japan serving as the top three markets. The Company currently holds 50 patents and patent applications in various products and manufacturing processes and is one of the few Chinese companies licensed with the U.S. Food and Drug Administration (FDA) to ship finished, sterilized products directly to the U.S. market. To learn more about Winner Medical, visit Winner Medical's web site http://www.winnermedical.com .
About Chengdu Likang Co., Ltd. and West China Hospital of Sichuan University
Chengdu Likang Co. Ltd. is a subsidiary of West China Hospital, which engages in the business of marketing and sales of pharmaceutical products and medical equipment to West China Hospital and other hospitals in Western China.
West China Hospital is a superior large comprehensive teaching and researching hospital with all medical disciplines, a strong teaching faculty, considerable research facilities and updated medical equipment. The hospital has been ranked among the top hospitals in China since 1990 and is the medical center of sophisticated and severe cases, the center of medical education and the scientific research in Southwest China. West China hospital covers an area of 46.7 hectors, owns 400,000 square meters of building for clinical use while its fixed assets are RMB 30 billion. The hospital has 4,300 beds, which ranks the first in China and the percentage of clinical usage reaches over 100%.
This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding Winner Medical and its subsidiary companies' business strategy, plans and objective and statements of non-historical information. These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although Winner Medical believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Winner Medical's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Winner Medical's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to Winner Medical or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, Winner Medical does not assume a duty to update these forward-looking statements.
For more information, please contact: Investor Relations Contacts: Peng Zhai Assistant Manager, Investor Relations Winner Medical Group Inc. Tel: +86-755-2806-6858 Email: email@example.com
|SOURCE Winner Medical Group Inc.|
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