BEIJING, Jan. 3, 2018 /PRNewswire/ -- China Biologic
Products Holdings, Inc. (NASDAQ: CBPO) ( "CBPO" or the "Company"),
a leading fully integrated plasma-based biopharmaceutical company
in China, today announced that it
has completed the acquisition of 80% equity interest in Tianxinfu
(Beijing) Medical Appliance Co.,
Ltd. ("TianXinFu") from PW Medtech Group Limited ("PWM"), a company
listed on The Stock Exchange of Hong Kong Limited (Stock Code:
1358). The transaction was first announced on October 12, 2017.
Mr. David (Xiaoying) Gao,
Chairman and Chief Executive Officer of China Biologic, commented,
"We are pleased to welcome TianXinFu into the China Biologic
family. We look forward to working with the team at TianXinFu to
capitalize on the rapid growth of the regenerative medical
bio-material industry in China
while leveraging TianXinFu's extensive sales networks and
professional marketing expertise to maximize growth opportunities
for our plasma products. We believe this acquisition will create
synergistic value to further solidify our core plasma leadership
position in China."
In connection with the acquisition of TianXinFu, CBPO issued
5,521,000 ordinary shares to PWM, representing approximately 16.7%
of the outstanding share capital of CBPO after taking into effect
the new issuance.
The board of directors of CBPO has appointed Ms. Yue'e Zhang as
a director of CBPO. Ms. Zhang currently serves as the chairman of
the board of directors and an executive director of PWM.
About China Biologic Products Holdings, Inc.
China Biologic Products Holdings, Inc. (NASDAQ: CBPO) is a
leading fully integrated plasma-based biopharmaceutical company in
China. The Company's products are
used as critical therapies during medical emergencies and for the
prevention and treatment of life-threatening diseases and
immune-deficiency related diseases. China Biologic is headquartered
in Beijing and manufactures over
20 different dosage forms of plasma products through its majority
owned subsidiary, Shandong Taibang Biological Products Co., Ltd.,
and its wholly owned subsidiary, Guizhou Taibang Biological
Products Co., Ltd. The Company also has an equity investment in
Xi'an Huitian Blood Products Co., Ltd. The Company sells its
products to hospitals, distributors and other healthcare facilities
in China. For additional
information, please see the Company's website
www.chinabiologic.com.
Safe Harbor Statement
This release contains certain "forward-looking statements"
within the meaning of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. All statements other than
statements of historical fact in this announcement are
forward-looking statements. These statements are forward-looking in
nature and subject to risks and uncertainties that may cause actual
results to differ materially. All forward-looking statements
included in this release are based upon information available to
CBPO as of the date of this release, which may change, and CBPO
undertakes no obligation to update or revise any forward-looking
statements, except as may be required under applicable securities
law.
Contact:
China Biologic Products Holdings, Inc.
Mr. Ming Yin
Senior Vice President
Phone: +86-10-6598-3099
Email: ir@chinabiologic.com
ICR Inc.
Mr. Bill Zima
Phone: +86-10-6583-7511 or +1-646-405-5191
E-mail: bill.zima@icrinc.com
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SOURCE China Biologic Products Holdings, Inc.