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 t
|SOURCE Winner Medical Group Inc.|
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