BEIJING, May 2, 2011 /PRNewswire-Asia-FirstCall/ -- Dehaier Medical Systems Ltd. (NASDAQ: DHRM) ("Dehaier" or the "Company"), an emerging leader in the development, assembly, marketing and sale of medical devices and homecare medical products in China today announced that it has signed a cooperation agreement with Beijing Kanglian Medicines Co, Ltd ("Beijing Kanglian"), to develop, operate and implement for a new rural healthcare construction project in Hunan and Anhui provinces. The project is supported by China Development Bank Corp ("CDB"), one of China's three national policy banks.
In conjunction with the State Council's "Agriculture, Farmer and Village" policy, which is aimed at improving rural living conditions, CDB has earmarked approximately $1.5 billion in loans each year since 2007 for the implementation of national rural healthcare initiatives and upgrade of medical institutions in nearly 2,900 counties, cities and districts across China. A key objective of this project is the development of new medical facilities in areas lacking adequate healthcare infrastructure.
"We are proud to have been selected for a project of such magnitude, that has the support of an institution as prominent as CDB. The continued development of China's healthcare system is critical to our country's future, and we believe that this program is an important step forward. We are pleased that, through our experienced professionals, and leading sales and support capabilities, we can contribute to this important national initiative," said Mr. Ping Chen, CEO of Dehaier. "China's government has placed a major emphasis on the improvement of rural healthcare infrastructure through the establishment of basic medical facilities in each county and township, creating a tremendous growth opportunity in rural China. Our portfolio includes high quality products at a variety of price points, including products that fit the project requirements for more economical facilities. We are confident that these government policies and nationwide programs will help create new opportunities for Dehaier to grow sales as we work to expand our business and deliver our healthcare solutions across China."
About Dehaier Medical Systems Ltd.
Dehaier is an emerging leader in the development, assembly, marketing and sale of medical products in China, including respiratory and oxygen homecare medical products. The company develops and assembles its own branded medical devices and homecare medical products from third-party components. The company also distributes products designed and manufactured by other companies, including medical devices from IMD (Italy), Welch Allyn (USA), HEYER (Germany), Timesco (UK), ResMed (Australia), eVent Medical (US) and JMS (Japan). Dehaier's technology is based on two patents, six pending patents, and proprietary technology. More information may be found at http://www.chinadhr.com.
Forward-looking Statements
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, future developments in payment for and demand for medical equipment and services, implementation of and performance under the joint venture agreement by all parties, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
Contact Us
In the US:
The Piacente Group, Inc.
Investor Relations
Brandi Floberg or Lee Roth
(212) 481-2050
dehaier@tpg-ir.com
In China:
The Piacente Group, Inc.
Investor Relations
Wendy Sun
+86 10-6590-7991
dehaier@tpg-ir.com
Dehaier Medical Systems Limited
Rita Liu
CFO
+86 10-8844-5026
liuz@dehaier.com.cn
Anan Liu
Investor Relations Manager
+86 10-5166-0080 ext 169
liuanan@dehaier.com.cn
