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Fenwal, Golden Meditech Complete Definitive Agreement to Form Joint Venture in China
Date:3/8/2011

LAKE ZURICH, Ill. and HONG KONG, March 8, 2011 /PRNewswire-Asia-FirstCall/ -- Fenwal Inc. of Lake Zurich, Illinois, and Golden Meditech Holdings Limited (stock code: 801.HK; 910801.TW) of Hong Kong announced today they have entered into a definitive agreement to form a joint venture in China that will sell advanced products and technologies for blood collection, storage and transfusion.

The joint venture is expected to be formed later this year after receiving customary commercial and regulatory approvals. The expected name of the new company will be Fenwal Jingjing Medical Technologies Ltd. (Fenwal Jingjing). Fenwal will own 51 percent of the new venture and Golden Meditech will own 49 percent.

Fenwal Jingjing will bring together advanced blood-collection, separation and storage technologies from both parent companies, and will benefit from the complementary strengths of Fenwal and Golden Meditech. Fenwal has a long history of innovation and leadership in blood technologies worldwide. Golden Meditech has expertise in serving China's unique and fast-growing health-care sector, with leadership in cord-blood banking and hospital services as well as medical-device development, manufacturing and distribution.

The joint venture will maintain an existing Fenwal office in Shanghai and establish a new operating subsidiary in Beijing, from which it will serve customers throughout China. Initially, Fenwal Jingjing will sell and distribute two key products: the Fenwal Amicus® blood-cell separator, a system used to collect platelets and other blood components such as stem cells; and the 3000H plasma exchange system, which removes toxins from the blood and was developed by a Golden Meditech subsidiary, Beijing Jingjing Medical Equipment Co. Ltd. The joint venture also will distribute related supplies and medical accessories to blood banks, cord blood banks and other medical institutions.

"Fenwal is a global pioneer and leader in advanced blood
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SOURCE Golden Meditech; Fenwal, Inc.
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