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China Medical Technologies Announces Plan of Senior Notes Offering
Date:9/21/2010

China Medical Technologies Announces Plan of Senior Notes Offering -- BEIJING, Sept. 21 /PRNewswire-Asia-FirstCall/ --


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Biotechnology, Health Care & Hospitals, Medical Equipment, Medical Pharmaceuticals, Pharmaceuticals, Stock Offering Click to view news release full screen  

China Medical Technologies Announces Plan of Senior Notes Offering

 

BEIJING, Sept. 21 /PRNewswire-Asia-FirstCall/ -- China Medical Technologies, Inc. (the "Company") (Nasdaq: CMED), a leading China-based advanced in-vitro diagnostic ("IVD") company, today announced that it plans to offer, subject to market and other conditions, up to US$200 million aggregate principal amount of senior notes (the "Notes") with a maturity of five years in a private offering that is exempt from the registration requirements of the U.S. Securities Act of 1933, as amended (the "Securities Act"). The Company intends to use the net proceeds from this private offering to repurchase, redeem or repay its convertible notes. The final terms of the Notes will be determined at the time of pricing of the Notes.

The Notes will be offered and sold only to qualified institutional buyers in reliance on Rule 144A and in offshore transactions pursuant to Regulation S under the Securities Act. The Notes have not been and will not be registered under the Securities Act or any state securities laws of the United States or under applicable laws of any other jurisdictions and may not be offered or sold in the United States absent an effective registration statement or an applicable exemption from registration requirements or a transaction not subject to the registration requirements of the Securities Act or any state securities laws or in other jurisdictions unless offered or sold in compliance with their applicable laws. This release shall not constitute an offer to sell or the solicitation of an offer to buy any of the Notes, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

About China Medical Technologies, Inc.

China Medical Technologies, Inc. is a leading China-based advanced IVD company using molecular diagnostic technologies including Fluorescent in situ Hybridization (FISH) and Surface Plasmon Resonance (SPR) and an immunodiagnostic technology, Enhanced Chemiluminescence Immunoassay (ECLIA), to develop, manufacture and distribute diagnostic products used for the detection of various cancers, diseases and disorders as well as companion diagnostic tests for targeted cancer drugs. The Company generates all of its revenues in China through the sale of diagnostic consumables including FISH probes, SPR-based DNA chips and ECLIA reagent kits to hospitals which are recurring users of the consumables for their patients. The Company sells FISH probes and SPR chips to large hospitals through its direct sales force and ECLIA reagent kits to small and mid-size hospitals through distributors. For more information, please visit http://www.chinameditech.com .

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Examples of such statements in this press release include, among other matters, the pricing and the completion of the proposed offering of the Notes and the intended use of proceeds. Many of the factors that will determine the outcome of the subject matter of this press release are beyond the Company's ability to control or predict. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

For more information, please contact: Sam Tsang and Winnie Yam Tel: +852-2511-9808 Email: IR@chinameditech.com
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SOURCE China Medical Technologies, Inc.
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