Navigation Links
Golden Meditech Acquires Remaining Stake in Chinese Herbal Medicine Business
Date:2/25/2011

HONG KONG, Feb. 25, 2011 /PRNewswire-Asia-FirstCall/ -- Golden Meditech Holdings Limited ("Golden Meditech" or the "Group," - 801.HK; 910801.TW), China's leading integrated healthcare enterprise, is pleased to announce that the Group will acquire the remaining interests in the Group's Chinese herbal medicine business for a total consideration of HK$90 million in shares.  Upon completion of the transaction, the Chinese herbal medicine business will become wholly-owned by the Group.

The Chinese herbal medicine business is principally engaged in the research and development, production and distribution of Chinese herbal medicines in China and overseas, as well as the operation of a Chinese herbal medicine retail chain in the United Kingdom and Ireland.  It also owns and operates an approved GMP production facility, spanning across 58,000 square meters, in Municipal Shanghai.

Mr. Kam Yuen, Chairman of the Group, commented on the timing of the transaction, said, "It is a timely opportunity for us to acquire the remaining interests along with a sizable plot of land in a prime location in Shanghai at a very reasonable price."

As the Chinese herbal medicine industry in Europe is at the brink of recovery, the Group will assemble a new management team to improve its operations, efficiency, and scale of operations leveraging the Group's resources in China.

About Golden Meditech Holdings LimitedGolden Meditech Holdings Limited is China's leading integrated-healthcare device and service operator, and the first medical device enterprise that was publicly listed outside of the PRC on the Stock Exchange of Hong Kong Limited (HKEx).  Golden Meditech is a first-mover in China, having established dominant positions in medical devices and healthcare services markets over the years, thanks to its strengths in innovation and market expertise and the ability to capture emerging market opportunities.  Going forward, the Group will continue to pursue a leading position in China's healthcare industry both through organic growth and strategic expansion.

For enquiries, please contact:Investor Relations DepartmentGolden Meditech Holdings LimitedAddress:

48/F, Bank of China Tower, 1 Garden Road, Central, Hong KongTel:

+852-3605-8180Fax:

+852-3605-8181Email:

ir@goldenmeditech.com
'/>"/>

SOURCE Golden Meditech Holdings Limited
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Golden Meditech Announces Annual Results for FY 2009/10
2. Golden Meditech Announces Plan to Issue Taiwan Depository Receipts
3. Golden Meditech as First Chinese Healthcare Enterprise to Obtain Approval for Taiwan Depositary Receipts Offering
4. Golden Meditech to Form Strategic Alliance with Long Bon International
5. Upstream Biosciences Acquires Innovative Platform Technology and Drug Candidates for Tropical Parasitic Diseases
6. Image Solutions, Inc. Acquires Zurich Biostatistics, Inc.
7. U.S. Preventive Medicine Acquires Specialty Disease Management
8. MacroChem Acquires Rights to Pexiganan, a Novel Topical Anti-Infective for Treatment of Diabetic Foot Infections, From Genaera
9. Nastech Reacquires Teriparatide (Parathyroid Hormone; PTH1-34) Nasal Spray from Procter & Gamble
10. Prescient Medical, Inc. Acquires New Technology to Detect Inflammation in Coronary Blood Vessels
11. Hospira Acquires Worldwide Rights to Biogeneric Version of Filgrastim
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/24/2017)... -- New England Pediatric Device Consortium (NEPDC) announced Velano ... and in-kind service towards the commercialization of the company,s ... blood draws less traumatic for children could go a ... We,re looking forward to working with Velano Vascular to ... the kids we treat," said Ann-Christine Duhaime , ...
(Date:3/24/2017)... 2017 Research and Markets has announced ... Consumer Strategies" report to their offering. ... Pain Management in ... treat their physical pain, emphasizing consumer survey analysis, including trends ... and adults who have selected illnesses/conditions strongly associated with physical ...
(Date:3/24/2017)... 24, 2017 ShangPharma, a leading ... cost-effective drug development and discovery services, technology, ... industry, announced today the intent for a ... be consolidating the Contract Research Organizations (CRO) ... ChemPartner. These entities include ChemPartner Shanghai, ChemPartner ...
Breaking Medicine Technology:
(Date:3/27/2017)... ... March 27, 2017 , ... M&S Technologies, ... of Conformity for the Smart System® 20/20. CE Certification builds upon M&S's long-standing ... and specifications such as ANSI, ISO and proven test methods used in the ...
(Date:3/27/2017)... , ... March 27, 2017 , ... ... comprehensive weight management program at Women’s Excellence will help patients lose weight and ... physical exam. The specialists at Women's Excellence will measure BMI, body fat ...
(Date:3/27/2017)... ... 27, 2017 , ... The Association of Healthcare and Value ... their first Northeast Regional AHVAP Meeting. For 2017, Dr. Hayes will provide the ... value analysis professionals have a ‘seat at the table’ with clinical committees when ...
(Date:3/27/2017)... ... March 27, 2017 , ... Sodium determination ... are complicated and require expert user knowledge. In a live webinar on April ... the simplified, yet highly accurate, determination of sodium. , It has long been ...
(Date:3/27/2017)... ... March 27, 2017 , ... ... with opioids alone responsible for over 33,000 of the 52,404 drug-related deaths in ... Bill (AB) 1512, which proposes a tax on prescription opioids to fund drug ...
Breaking Medicine News(10 mins):