BEIJING, Oct. 15 /Xinhua-PRNewswire-FirstCall/ -- China Medical Technologies, Inc. (the "Company") (Nasdaq: CMED), a leading China-based medical device company that develops, manufactures and markets advanced in-vitro diagnostic products and high intensity focused ultrasound ("HIFU") tumor therapy systems, today announced that it has received official approval from the Korean Food and Drug Administration (the "KFDA") to market its HIFU tumor therapy system in Korea for the treatment of liver cancer, pancreatic cancer and uterine fibroids.
"KFDA approval is another significant milestone in attaining international recognition for our HIFU system, particularly after having received conditional approval from the U.S. Food and Drug Administration in July 2007 to commence human clinical trials," stated Mr. Xiaodong Wu, Chairman and Chief Executive Officer of the Company. "We are pleased to introduce our HIFU system to Korean patients and excited about the opportunity to commence our HIFU sales outside of China."
Cancer is the leading cause of death in Korea and the number of Korean cancer patients is increasing. The introduction of the Company’s HIFU tumor therapy system to Korean hospitals will provide patients with a tumor treatment alternative that can also compliment conventional treatment approaches.
There are over 1,000 general hospitals in Korea. The Company’s exclusive distributor in Korea will initially target the large general hospitals in Korea to promote our HIFU tumor therapy system. The Company and its distributor will periodically review the Company’s sales strategy for the Korean market with a particular focus on the Company’s long-term market position in Korea.
About China Medical Technologies, Inc.
China Medical Technologies is a leading China-based medical device company that develops, manufactures and markets advanced in-vitro diagnostics products using Enhanced Chemiluminescence (ECLIA) technology and Fluorescent in situ Hybridization (FISH) technology, to detect and monitor various diseases and disorders, and products using High Intensity Focused Ultrasound (HIFU) for the treatment of solid cancers and benign tumors. 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 27A of the Securities Act of 1933, as amended, and 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. Among other things, the Company’s expectations with respect to sales in Korea and international recognition of its HIFU tumor therapy system contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in the Company’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. 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:
Winnie Fan
China Medical Technologies, Inc.
Tel: +86-10-6530-8833
Email: IR@chinameditech.com
