HONG KONG, Sept. 20, 2011 /PRNewswire-Asia/ -- Golden Meditech Holdings Limited ("Golden Meditech," together with its subsidiaries collectively as the "Group," - 801.HK; 910801.TW), a leading healthcare enterprise in China, today announced the disposal of 2.0% interest in FunTalk China Holdings Limited, the Group's associate, for US$15 million.
Upon completion, the Group's effective interest in FunTalk China will be reduced 19.8%. The Group will realize an unaudited gain of approximately HK$36 million based on the net proceeds from the disposal less the book value of the shares disposed at HK$73 million and related expenses amounting to HK$8 million.
Commenting on the disposal, Mr. KAM Yuen, Chairman of the Group, said, "With our burgeoning healthcare services portfolio that includes a leading brand name in haematology hospital and the newly acquired Shanghai East International Medical Centre, as well as our medical insurance claim processing and settlement business process outsourcing business, we consider the disposal is a good opportunity to enhance the liquidity and resources for the Group, while the proceeds will be used as general working capital and for business development."
About Golden Meditech Holdings Limited
Golden Meditech Holdings Limited is China's leading integrated-healthcare devices 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) and the Taiwan Stock Exchange (TSE). 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.
