HONG KONG, Feb. 23, 2011 /PRNewswire-Asia/ -- 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's NYSE-listed affiliate, China Cord Blood Corporation ("CCBC," -- CO.US) has made a major advancement in domestic market expansion, via the inauguration of Zhejiang Cord Blood Bank in Hangzhou, capital of east China's Zhejiang Province, which will advance the development of umbilical cord blood stem cell banking services in Zhejiang while providing professional, state-of-the-art services to the public in the region.
The new cord blood bank in Zhejiang shall be under the direct governance of the Provincial Ministry of Health as the only licensed operator. CCBC will own 90% of Zhejiang Lukou Biotechnology Co., Ltd., a jointly-established holding company between CCBC and the Zhejiang Provincial Blood Center, which is the operator of the Zhejiang Cord Blood Bank.
The new license will be the seventh provincial license issued by the PRC Government under the "one-license-per-region" policy, and the third obtained by the company since Beijing Municipal and Guangdong Province.
Mr. Kam YUEN, Chairman and Chief Executive Officer of the Group, said, "As the founding and largest shareholder of CCBC, we are delighted to see that CCBC has unveiled a number of very encouraging developments thus far. Zhejiang has an annual birthrate of half a million a year and a high per-capita GDP, which ranked fourth amongst thirty-one provinces and municipalities in mainland China after Shanghai, Beijing, and Tianjin, and its market potential is substantial."
CCBC is the largest operator and the only one with multiple licenses which, irrefutably, render the company as the market leader in China. Prior to obtaining the new license, CCBC has already had possession of the exclusive operating licenses for both Beijing Municipal and Guangdong Province on top of approximately 20% stake in the exclusive operator in Shandong Province.
CCBC is also the single largest shareholder of Cordlife, the largest cord blood banking operator in Southeast Asia that is listed on the Australian Stock Exchange.
Mr. Kam reiterated, "We maintain a positive long term outlook for the cord blood banking industry over China and the whole of the Asia-Pacific region, and are confident in CCBC's management team and their ability to fully leverage the excellent operational and marketing expertise, which will help to sustain the company's high growth momentum and continue to strengthen its leadership position of the industry."
About Golden Meditech Holdings Limited
Golden 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 Department | |
| Golden Meditech Holdings Limited | |
| Address: | 48/F, Bank of China Tower, 1 Garden Road, Central, Hong Kong |
| Tel: | +852-3605-8180 |
| Fax: | +852-3605-8181 |
| Email: | ir@goldenmeditech.com |
