BEIJING, Dec. 13, 2011 /PRNewswire-Asia-FirstCall/ --
China Medical Technologies, Inc. (the "Company") (Nasdaq: CMED), a
leading China-based advanced
in-vitro diagnostic ("IVD") company, today announced that the
Company intends to implement a debt restructuring plan to improve
its balance sheet. The plan may include, without limitation, a
debt-for-debt exchange with existing holders of the Company's
convertible notes maturing in August
2013 and December 2016, which
may potentially involve holders receiving new debts with different
interest rates, maturities and principal amounts compared to the
existing debts or other alternatives to be agreed. Holders of the
Company's convertible notes are requested to contact the Company's
Cayman legal representative, Thorp Alberga at
cmednoteholders@thorpalberga.com, which will collect contact
information from such holders to facilitate their communication
with each other to form a noteholders' committee to liaise with the
Company.
This release shall not constitute an offer to sell, or a
solicitation of an offer to buy, any securities in any
jurisdiction.
About China Medical Technologies, Inc.
China Medical Technologies, Inc. is a leading China-based advanced IVD company using
molecular diagnostic technologies including Fluorescent in situ
Hybridization (FISH) and Surface Plasmon Resonance (SPR) and an
immunodiagnostic technology, Enhanced Chemiluminescence Immunoassay
(ECLIA), to develop, manufacture and distribute diagnostic products
used for the detection of various cancers, diseases and disorders
as well as companion diagnostic tests for targeted cancer drugs.
The Company generates all of its revenues in China through the sale of diagnostic
consumables including FISH probes, SPR-based DNA chips and ECLIA
reagent kits to hospitals which are recurring users of the
consumables for their patients. The Company sells FISH probes and
SPR chips to large hospitals through its direct sales force and
ECLIA reagent kits to small and mid-size hospitals through
distributors. For more information, please visit
http://www.chinameditech.com.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar
statements. Such statements involve certain risks and uncertainties
that could cause actual results to differ materially from those in
the forward-looking statements, including: there can be no
assurance that any plan, if pursued, will be successful. Further
information regarding these and other risks is included in the
Company's filings with the U.S. Securities and Exchange Commission,
including its annual report on Form 20-F. The Company does not
undertake any obligation to update any forward-looking statement as
a result of new information, future events or otherwise, except as
required under applicable law.
Contact
Email: cmednoteholders@thorpalberga.com
SOURCE China Medical Technologies, Inc.