SHENZHEN, China, Sept. 25 /Xinhua-PRNewswire/ -- Winner Medical Group Inc. (OTC Bulletin Board: WMDG; "Winner Medical" or "the Company") announced that it has entered into an agreement with Shanghai Hongsong Company, under which Shanghai Hongsong Company will exclusively sell the Company's "Winner" brand products in Shanghai, China for the period of one year, beginning in September 2008 with the focus on marketing the "Winner" brand products to hospitals.
Shanghai Hongsong is one of the top distributors of medical dressing products in Shanghai in terms of revenue. This agreement enables the Company for the first time to enter the lucrative Shanghai hospital market. Shanghai has a population of over 20 million people and is the richest metropolitan in China measured by GDP per capita.
Mr. Jianquan Li, Chairman and Chief Executive Officer said, "We are pleased to establish partnership with Shanghai Hongsong. This first strategic move into the affluent Shanghai market represents an improved step in expanding our footprint and enhancing Winner's brand profile in domestic market."
"The domestic metropolitan markets in China have enormous potential. Our partnerships with distributors in Shanghai, Guangdong, Zhejiang and Hunan Province demonstrate progression of our strategy to expand sales of medical care and homecare products in the domestic market."
"Our domestic market expansion has benefited from continuous economic growth in China, increased expenditure per capita on medical products and devices, increased government expenditure within the medical sector in rural areas, as well as government reforms aimed to build a more stringently regulated healthcare market in China," said Mr. Li.
"Winner Medical's strategy in domestic market is to sell our Winner brand products to OTC drugstore chains, distributors and direct sale to hospitals. We will continue to co-operate with other top OTC drug store chains, while at the same time further developing relationships with regional distributors," Mr. Li concluded.
Currently, Winner Medical has relationships with 15 drugstore chains in China, including Laobaixing Drugstore and Nepstar Chain Drugstore Ltd, which have a combined network of approximately 2,000 stores across the country.
About Winner Medical
Winner Medical is a leading manufacturer and the largest exporter by volume in the medical dressing industry (medical and wound care products) in China. Headquartered in Shenzhen, the Company has eight wholly-owned manufacturing and distribution facilities, four joint-venture factories and over 5,000 employees. The Company engages in the manufacture, sale, research, and development of medical care products, wound care products, home care products and PurCotton(TM) products, a nonwoven fabric made from 100% natural cotton. The products are sold worldwide, with Europe, the U.S. and Japan serving as the top three markets. The Company currently holds 50 patents and patent applications in various products and manufacturing processes and is one of the few Chinese companies licensed with the U.S. Food and Drug Administration (FDA) to ship finished, sterilized products directly to the U.S. market. To learn more about Winner Medical, visit Winner Medical's web site http://www.winnermedical.com .
Forward-Looking Statements
This press release contains certain statements that may include "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. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding Winner Medical and its subsidiary companies' business strategy, plans and objective and statements of non-historical information. These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although Winner Medical believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Winner Medical's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Winner Medical's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to Winner Medical or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, Winner Medical does not assume a duty to update these forward-looking statements.
For more information, please contact:
Investor Relations Contacts:
Peng Zhai
Assistant Manager, Investor Relations
Winner Medical Group Inc.
Tel: +86-755-2806-6858
Email: peng.zhai@winnermedical.com
Hong Kong
Pamela Leung
Taylor Rafferty
Tel: +852-3196-3712
Email: winnermedical@taylor-rafferty.com
United States
Delia Cannan
Taylor Rafferty
Tel: +1-212-889-4350
Email: winnermedical@taylor-rafferty.com
