genlou
14 years ago
Golden Meditech Announces 2010/2011 Interim Results
Total Turnover Up 24% and Profit After Tax Substantially Increased by 171%
Devices Business Made Significant Inroads into Mid-tier Hospitals with
Double Digit Growth in Accessories Sales
Services Business Strengthened by Growing Hospital Management Business and
New Medical Insurance BPO
HONG KONG, Nov. 29, 2010 /PRNewswire-Asia-FirstCall/ -- Golden Meditech
Holdings Limited ("Golden Meditech" or the "Group," HKEx: 801), China's
leading integrated healthcare enterprise, is pleased to announce today its
interim results for the 2010/2011 financial year. For the six month period
ended September 30, 2010, the Group reported total revenue of HK$163million
with 24% increase compared to the previous interim period. Profit after tax
amounted to HK$161million, representing an increase of 171% relative to the
previous interim period.
Mr. Kam Yuen, Chairman and Chief Executive Officer of the Group said,
"Benefiting from China's medical reform and a favourable market
environment, the Group's medical devices segment has gradually penetrated
more mid-tier hospitals as the product garnered greater acceptance, which
in turn has substantially benefited medical accessories sales leading to
14% revenue growth relative to the previous year. In order to cater to the
shortage in surgical blood supply, the Ministry of Health has strengthened
its policies on surgical blood safety and encouragement for the use of
autologous blood, which translated into more business opportunities for the
Group. In August 2010, the Group raised HK$283million from private equity
investors to expand its production capacity while it also stepped up
marketing and brand building initiatives to reinforce its leading position
and respective share in the blood purification market."
On the other hand, the Group's hospital management business reported
the first full-term interim revenue since acquisition of this division was
completed in June 2009, which amounted to HK$38million, accounted for 23%
of total revenue. The Group's hospital management business is the first
foreign company with a nation-wide hospital management license and
currently manages two leading haematology hospitals in China.
The Group's US-listed affiliates, China Cord Blood Corporation and
FunTalk China Holdings Limited, both sustained high yet stable growth and
together contributed HK$54million to the Group's earnings.
As its business operations reported continuous across-the-board growth,
in April 2010, the Group teamed-up with two leading health maintenance
organizations that are service providers of the Medicare programme for the
US government to form a new joint venture in Shanghai. This new business is
China's first medical insurance information management and Business Process
Outsourcing service provider to cater to the emergent needs for such
services in China.
Commenting on the Group's business outlook, Mr. Kam reiterated that as
the ongoing medical reform will bring about even more opportunities within
China's healthcare sector, the Group is poised to enjoy significant
synergies between individual operations within its integrated business
platform, rendering it in an excellent position with encouraging growth
prospects.
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.
genlou
14 years ago
HONG KONG, Aug 23, 2010 /PRNewswire via COMTEX/ -- Golden Meditech Holdings Limited ("Golden Meditech" or the "Group," 801.HK), China's leading integrated healthcare enterprise, is pleased to announce that its medical devices business has successfully raised USD 40 million from a number of renowned private equity investors where the proceeds will fund the construction of new production lines for both medical devices and medical accessories to fund the formation of joint-venture with Fenwal Inc. The Group's interest in medical devices business will be diluted to 74.123% upon completion.
The Group's medical devices business currently consists of its medical device production operation and distribution affiliate with the former being the first and largest autologous blood recovery system manufacturer in China, while the distribution affiliate currently represents the largest medical device distributor in China.
Mr. KAM Yuen, Chairman and Chief Executive Officer of the Group, said, "The successful fund raising will allow the Group to better capture the brilliant prospects and abundant growth opportunities in the industry amidst China's ongoing medical reform and expedite market penetration of our autologous blood recovery systems into mid-tier hospitals. In addition to enhancing the scalability of the Group's operation, the fund raising is also instrumental in reflecting the intrinsic value of our medical devices business."
Mr. KAM gave emphasis to the fact that the Group saw the successful listing of two of its affiliates, China Cord Blood Corporation (CO.US) and FunTalk China Holdings Limited (FTLK.US) in the US at the end of 2009. Based on their previous closing prices, the current combined market value of the Group's stakes in these two affiliates are close to USD 261 million. Going forward, we will continue to expand each of these operations while seeking to unlock the intrinsic value of each to enhance the return for the Group and its shareholders."
About Golden Meditech Holdings Limited
genlou
14 years ago
Golden Meditech Announces Annual Results for FY 2009/10
--Profit from Continuing Operations Tripled Year-on-Year --Two Affiliate Companies Successfully Listed on Major US Stock Exchanges
HONG KONG, July 22, 2010 /PRNewswire via COMTEX/ -- China's leading integrated medical enterprise Golden Meditech Holdings Limited ("Golden Meditech" or the "Group," HKEx: 801) is pleased to announce its annual results for the year ended 31 March 2010. During the reporting period, total turnover amounted to HK$285,467,000 (the Group ceased to consolidate revenue from the cord blood banking division into its financial statements), representing a y-o-y increase of 3.2%; the Group's profit from continuing operations amounted to HK$134,395,000, tripled that from the previous year.
To maintain the liquidity of the Company's shares, the Company has issued convertible notes and warrants during the reporting period with a principal amount of US$25,200,000 and US$8,400,000 respectively which are due in 2014. As the Company's shares price has increased after the issuances, a non-cash expense of HK$102,357,000 has been recognised, impacting the Group's profit attributable to equity holders, which has increased by 104% at HK$116,412,000 while basic earnings per share amounted to HK 7.2 cents. Excluding the said expense, profit attributable to equity shareholders would be HK$218,769,000, representing a y-o-y increase of 283%, while earnings per share would be HK13.7 cents. As of the date of announcement, 52% of the convertible notes have been converted into ordinary shares of the Company. The Company does not declare a dividend during the reporting period, though it does not rule out the possibility of sharing with our valuable shareholders benefits from the public offerings in the future.
The Group reported tremendous growth in its two key business areas, namely, the medical devices segment and the healthcare services segment during the year under review. Growth is most notable in the hospital management business, where the Group has completed the acquisition of a hospital management business on the back of the medical reform in China. This business has contributed HK$51,763,000 in revenue for the three quarters ended 31 March 2010, accounted for 18% of the Group's total revenue.
The Group is the only foreign company with a nationwide hospital management license. It also manages two leading specialist hematology hospitals, one each in Beijing and Shanghai respectively. Performance of the medical devices segment has been in-line with management's expectations, accounting for 82% of the Group's total revenue. Medical accessories generated HK$87,455,000 in sales with a y-o-y growth of 20%. The Group has been actively expanding its hospital market and has voluntarily adjusted the average selling price by 25% to encourage greater uptake for medical devices. The management believes that the government will launch more favourable healthcare policies to strengthen controls over safe administration of surgical blood, facilitating greater overall growth in this sector.
Mr. Kam Yuen, Chairman of the Group, revealed that following the Group's successful transfer of listing onto the Main Board of The Hong Kong Stock Exchange in June 2009, the Group's two affiliates -- China Cord Blood Corporation ("CCBC," NYSE: CO) and FunTalk China Holdings Limited /quotes/comstock/15*!ftlk/quotes/nls/ftlk (FTLK 7.99, +0.86, +12.06%) were listed on the New York Stock Exchange (NYSE) and the NASDAQ Stock Exchange respectively at the end of 2009. The combined current market value of the Group's stakes in these two affiliates is close to HK2.1 billion. Hence the management is of the view that the strategy to securitise different business operations via separate listings will strengthen their long-term business growth, while bring in significant return for the Group and the shareholders. Mr. Kam reiterated that the Group would continuously explore opportunities to unleash the intrinsic value of each operation.
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 different market areas 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 its pursuit in becoming a leader in China's medical industry both through organic growth and strategic expansion.
(Financial Highlights overleaf)
Financial Highlights
Year ended 31 March 2010 2009 % Change
(HK$ '000) (restated)
Turnover of Continuing Operations 285,467 276,535 3.2%
Medical Devices 233,704 276,535 (15.5%)
Hospital Management 51,763 -- N/A
Gross Profit of Continuing Operations 172,644 186,698 (7.5%)
Gross Profit Margin of Continuing
Operations 60.5% 67.5% (7.0%)
Non-cash Expenses on the Issuances of
Convertible Notes and Warrants (102,357) -- N/A
Profit from Continuous Operations 134,395 35,514 278%
Profit Attributable to Equity
Shareholders 116,424 57,089 104%
Earnings per share (HK$ cents)
Basic 7.2 3.7 95%
Diluted 6.8 3.6 89%
Adjusted Profit Attributable to Equity
Holders (Excluding Non-cash Expense on
the Issuance of Convertible Notes and
Warrants) 218,769 57,089 283%
Adjusted earnings per share (HK$ cents)
13.7 3.7 270%
* Remark: Since July 2009, the Group's stake in China Cord Blood
Corporation was diluted from 50.25% to 43.6% since its listing on the
NYSE in November 2009. The Group has ceased to include revenue from the
division and has since adopted equity accounting for CCBC's earnings
contribution.
For enquiries, please contact:
Investor Relations Department
Golding Meditech Holdings Limited
Tel: +852-3605-8180
Fax: +852-3605-8181
Email: ir@goldenmeditech.com
SOURCE Golding Meditech Holdings Limited
Copyright (C) 2010 PR Newswire. All rights reserved
Comtex
genlou
14 years ago
May 12, 2010, 12:00 p.m. EDT · Recommend · Post:
SynerMed Partners with Golden Meditech to Form GM-Medicare, China's First Medical Insurance Management Services Provider
LOS ANGELES, May 12, 2010 (BUSINESS WIRE) -- SynerMed, Inc., the largest Medicaid managed service organization (MSO) in the country, today announced the formation of a joint venture company with Shanghai-based Golden Meditech Holdings Limited, China's leading integrated healthcare device and service enterprise. The joint venture, GM-Medicare, is China's first health insurance information management system and business process outsourcer (BPO).
Established to optimize communication and information-sharing between insurance companies, hospitals and the insured, GM-Medicare will leverage SynerMed's integrated healthcare delivery platform and proven leadership within the U.S. managed care system to provide similar management solutions to the medical insurance market in China.
"By combining SynerMed's sophisticated platform with Golden Meditech's broad hospital network, GM-Medicare is poised to provide integrated managed care services in China, where there is an increased demand for quality, access and affordable care among a growing number of expatriate professionals and overseas tourists," said James P. Mason, CEO of SynerMed, Inc. "This strategic move into the world's second-largest consumer healthcare market demonstrates SynerMed's ability to customize and seamlessly deliver solutions on a global scale. We intend to set the standard of excellence for healthcare management in China," Mason said.
GM-Medicare enables medical insurance companies to offer innovative products and services by optimizing their information systems and business processes, while minimizing their operational costs and overall risk. GM-Medicare also equips hospital administrators with the tools to provide more sophisticated services, facilitating the growth and development of the medical insurance sector.
Aligning itself with China's plan for medical reform, GM-Medicare will proactively implement government initiatives aimed at maximizing medical resource allocation, facilitating service innovation and research at domestic hospitals, and providing hospitals with guaranteed bill settlement.
Anticipated Market Demand
In addition to more than 300,000 legally employed expatriates, China has been one of the fastest growing international tourist destinations since 2000, creating additional demand for access to quality healthcare services. It is estimated that China will invest $124 billion on healthcare from 2009 to 2011. In April 2009, the Chinese government announced guidelines for healthcare reform, with the core goal of providing universal healthcare services to the country's 1.3 billion people. The goal is to improve the services provided by the country's healthcare system, to increase the number of insured citizens, to reduce corruption, and to decrease the overall costs to the consumer.
About SynerMed, Inc.
Founded in 1995 and headquartered in Monterey Park, Calif., SynerMed is the largest Medicaid managed service organization (MSO) in the country. SynerMed enables its clients to become Accountable Care Organizations (ACOs), by organizing groups of physicians and holding them responsible for the quality and cost of care for their beneficiaries. SynerMed also promotes growth and sustainability for individual physicians by providing access to its robust offering of products, services and management tools. By integrating physicians through technology, utilizing evidence-based medicine and streamlining workflow and management processes, SynerMed facilitates the delivery of efficient, cost-effective and high-quality coordinated care to more than half a million members throughout the United States. For more information, visit www.isynermed.com.
SOURCE: SynerMed, Inc.
For SynerMed, Inc.
Lissa Burt, 310-740-5819
lissa@bentoncommunications.com
genlou
15 years ago
Golden Meditech's Associate Company Debuted on NASDAQ
HONG KONG, Dec 17, 2009 /PRNewswire-Asia via COMTEX/ -- China's leading high-tech healthcare group, Golden Meditech Company Limited ("Golden Meditech" or "the Group"; Stock Code: 801) is pleased to announce today that the Group's associate company FunTalk China Holdings Limited (FunTalk), formerly known as Pypo China Holdings Limited, made its debut on the NASDAQ exchange (Nasdaq: FTLK) after a successful secondary offering. The shares of FunTalk started trading on December 17, 2009 morning (Eastern Time).
As of today, Golden Meditech holds 15 million FunTalk shares. Based on the offering price of US$7 per share, the Group's holding is valued at US$105 million.
FunTalk is one of the largest nationwide distributors and retailers of personal wireless communications devices in China, dedicated to nationwide sales and distribution of advanced and fashionable mobile handsets, accessories and value-adding content. The Company runs a national network of branch offices and distribution centers servicing approximately 10,000 retail outlets in over 350 cities nationwide. FunTalk China is considered the largest mobile phone retail chain in China in terms of annual sales volume and total floor space of its retail outlets integrated under the brand name of "FUNTALK."
Investors responded positively to this offering. FunTalk issued 3.1 million ordinary shares and raised US$21.7 million dollars. Renowned investment bank Roadman & Renshaw is the sponsor and lead underwriter for this offering.
Mr. KAM Yuen, Chairman and CEO of Golden Meditech, said, "The listing of FunTalk China on NASDAQ represents another successful investment that the Golden Meditech management team has made in China, with its valuation tripled in less than three years. This is also the third company that the Group has invested in and has gone public in the United States within the past four years."
About Golden Meditech:
Golden Meditech was listed on the Stock Exchange of Hong Kong Limited (HKEX) as the first hi-tech medical device enterprise that went public outside of the PRC. Thanks to its great efforts in innovation and market expansion, as well as its first-mover abilities in capturing the emerging market opportunities, Golden Meditech's medical devices, cord blood banking services and innovative natural herbal medicines have all established dominant positions in their own sectors over the past years. Going forward, Golden Meditech will continue its pursuit of becoming China's leading integrated medical group through organic growth, acquisitions and strategic investments.
For further information, please contact:
Golden Meditech Company Limited
Investor Relations Division
Add: 48/F, Bank of China Tower, 1 Garden Road, Central, Hong Kong
Tel: +852-3605-8138
Fax: +852-3605-8181
Email: ir@goldenmeditech.com
SOURCE Golden Meditech Company Limited
www.prnewswire.com
Copyright (C) 2009 PR Newswire. All rights reserved
-0-
KEYWORD: China
INDUSTRY KEYWORD: HEA
MTC
genlou
15 years ago
Golden Meditech Announces Interim Results of FY2009/10
--Two Associate Companies Successfully Debut on NYSE and NASDAQ--Strengthened Core Business Operations--Hospital Management Operation Starts Maiden Revenue and Profit Contribution
HONG KONG, Dec 17, 2009 /PRNewswire-Asia via COMTEX/ -- China's leading high-tech healthcare group, Golden Meditech Company Limited ("Golden Meditech" or "the Group"; Stock Code: 801) is pleased to announce today the interim results for Financial Year 2009/10. During the period under review, the Group's two associate companies made their debut on the New York Stock Exchange and NASDAQ; its key businesses have been strengthened, with maiden revenue and profit contributions from its new hospital management operations.
Mr. KAM Yuen, Chairman and CEO of Golden Meditech, emphasized that the two associate companies, China Cord Blood Corporation (NYSE: CO) and FunTalk China Holdings Limited (Nasdaq: FTLK), are recognized leaders in their fields with leading market shares. Their listings in the U.S. will not only attract investor interest in these companies, but also unlock shareholder value and generate significant returns for our shareholders.
Based on their offering prices, Golden Meditech's holding of these two firms is valued at US$281 million.
Mr. KAM explained that the Group decided to spin off these two entities to fulfill a commitment to shareholders. "These are also vivid examples of our successful investments and expansion strategies in the China market," said Mr. KAM.
During the first half of this year, the Group's medical device segment promoted its two new products in China. Meanwhile, it also reached an agreement to partner with Fenwal Inc., a global leader of blood transfusion technology, to jointly explore business opportunities in China's blood collection and transfusion market.
At the same time, the Group pushed ahead to develop its hospital management businesses in order to capture the lucrative business opportunities arising from China's ongoing medical reform. The expansion into the key healthcare value chain is well in alignment with the Group's core competencies and resources. The Group recorded HK$16,699,000 of revenue and posted strong profits from its hospital management operations for the second quarter of this financial year.
In addition, the hospital management operations raised US$28 million (equivalent to HK$217 million) in private equity financing in October 2009, valuing the entire business at more than US$ 200 million. The money raised will be used for business development in the China hospital market.
The group reported total turnover of HK$131,593,000 in the first half of this financial year. Its gross profit margin was maintained at about 67.4%.
About Golden Meditech:
Golden Meditech was listed on the Stock Exchange of Hong Kong Limited (HKEX) in December 2001, as the first hi-tech medical device enterprise to go public outside of the PRC. Thanks to its great efforts in innovation and market expansion, as well as its first-mover abilities in capturing emerging market opportunities, Golden Meditech's medical devices, cord blood banking services and innovative natural herbal medicines have all established dominant positions in their own sectors over the past years. Going forward, Golden Meditech will continue its strategy of becoming China's leading integrated medical group through organic growth, acquisitions and strategic investments.
For further information, please contact:
Golden Meditech Company Limited
Investor Relations Division
Add: 48/F, Bank of China Tower, 1 Garden Road, Central, Hong Kong
Tel: +852-3605-8138
Fax: +852-3605-8181
Email: ir@goldenmeditech.com
SOURCE Golden Meditech Company Limited
www.prnewswire.com
Copyright (C) 2009 PR Newswire. All rights reserved
-0-
KEYWORD: China
INDUSTRY KEYWORD: HEA
MTC
SUBJECT CODE: ERN
genlou
15 years ago
Golden Meditech: FunTalk China Debuts on Nasdaq
HONG KONG, Dec 18, 2009 (SinoCast Daily Business Beat via COMTEX) -- Golden Meditech Co., Ltd. (SEHK: 0801), a leading healthcare company in China, announces today that one of its associated companies FunTalk China Holdings Limited (FunTalk) has been listed on the Nasdaq exchange under the stock code of FTLK.
FunTalk, previously known as Pypo China Holdings Limited, is scheduled to start trading in the morning of December 17, 2009 according to the Eastern Standard Time, said the Hong Kong-listed company.
Golden Meditech takes around 15 million shares in FunTalk after the listing, evaluated at USD 105 million calculated by the offering price of USD 7 apiece. FunTalk floated 3.1 million ordinary shares and raised USD 21.7 million in the offering, in which Roadman & Renshaw acted as the sponsor and lead underwriter.
FunTalk has nearly 10,000 chain stores in more than 350 cities in China, ranking first among all the mobile telecom terminal distributors in the country, according to Golden Meditech.
Source: www.hexun.com (December 18, 2009)
Copyright 2008 SinoCast Daily Business Beat. All rights reserved
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