Golden Meditech Sells 27.9% of Interest In Fortress Group Limited for US$101,264,437

HONG KONG, March 25, 2014 /PRNewswire/ -- Golden Meditech Holdings Limited ("Golden Meditech", together with its subsidiaries collectively as the "Group", 801.HK; 910801.TW), a leading integrated healthcare enterprise in China announced the sale of 2,942 ordinary shares, representing approximately 27.9% of the issued share capital of Fortress Group Limited ("Fortress"), the special private vehicle which privatized the previously NASDAQ-listed FunTalk China Holdings Limited in August 2011, to Sanpower Group Limited for a cash consideration of US$101,264,437 (equivalent to approximately HK$789,862,611), and the sales proceeds will be used as the working capital of the Group.

Mr. KAM Yuen, Chairman and Chief Executive Officer said, "With our dedication to the long term development of China's healthcare industry, the sale of Fortress enables us to focus on our core businesses while the proceeds will allow us to explore opportunities emerging from China's healthcare reform. We believe this is the right move for the Company and our shareholders, and are confident in our ability to continue capitalizing on our investments in the time ahead."

The Boards of Golden Meditech, taking into account the interests of shareholders and other stakeholders, have approved and recommended the transaction. The proposed transaction is subject to shareholder approval under the Listing Rules at the Extraordinary General Meeting of Shareholders.

About Golden Meditech Holdings Limited

Golden Meditech Holdings Limited (www.goldenmeditech.com) is China'sGolden Meditech is a first-mover in China, having established dominant positions in medical devices and healthcare services markets, 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.

SOURCE Golden Meditech Holdings Limited