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:10/10/2017)... Calif. , Oct. 10, 2017  NDS received FDA 510(k) ... — a medical-grade battery-powered display stand specifically designed for endoscopy environments. ... transform technology into a clinical solution to support the improvement of ... Innovative Design ... Mobile Wireless Solution ...
(Date:10/7/2017)... IRVING, Texas , Oct. 6, 2017   ... industry with more than $100 billion in purchasing power, ... industry news and information. The Newsroom is ... chain and industry trends, infographics, expert bios, news releases, ... Besides having access to a wealth of resources at ...
(Date:10/4/2017)... , Oct. 4, 2017  South Korean-based healthcare product ... training aide "cprCUBE" on Kickstarter. The device will educate ... cardiac arrests with better efficiency compared to the dated ... real-time feedback on efficacy of the compression for a ... has a goal to raise $5,000. ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... October 13, 2017 , ... ProVest Insurance Group, ... Dallas, Miami, and Raleigh regions, is organizing an extended charity drive to benefit ... deadly chromosome abnormality. , After struggling since birth with several health challenges, T.J. ...
(Date:10/13/2017)... ... October 13, 2017 , ... The American Board of Family Medicine's (ABFM) ... and Chief Executive Officer, succeeding Dr. James C. Puffer upon his retirement. Dr. Newton ... until Dr. Puffer’s retirement at the end of 2018. Upon assuming the role of ...
(Date:10/13/2017)... ... October 13, 2017 , ... Lori R. Somekh, founder of ... ElderCounsel, a national organization of elder law and special needs planning attorneys. “Membership in ... It also provides a forum to network with elder law attorneys nationwide,” said Somekh. ...
(Date:10/13/2017)... ... ... Ellevate Network, the leading network for professional women, brought together some of ... their inaugural Summit in New York City in June. The event was livestreamed with ... 3 million. To watch the Mobilize Women video, click here . , ...
(Date:10/13/2017)... ... October 13, 2017 , ... Coveros, a leader in ... awarded a contract by the Center for Medicare and Medicaid Services (CMS). The ... enterprise use of Agile methodologies in a consistent and high value manner across ...
Breaking Medicine News(10 mins):