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
conti
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