Golden Meditech to Form Strategic Alliance with Long Bon International

TAIPEI, Feb. 18, 2011 /PRNewswire-Asia-FirstCall/ -- Golden Meditech Holdings ("Golden Meditech," 0801.HK, 910801.TW) and Long Bon International Co., Limited ("Long Bon International") today announced that the companies have entered into a memorandum of understanding (MOU) for strategic cooperation in Taipei.  Golden Meditech Holdings Chairman, Mr. Kam Yuen and Chairman of Long Bon International, Mr. Chu Powei, respectively represented and co-chaired the signing ceremony.  Per the MOU, the parties will establish a joint-venture company within the next six months to capture business opportunities within the healthcare sector arising from the introduction of ECFA.  This will be the first collaborative effort between two sizable corporations to penetrate the healthcare sector and healthcare services across the Straits with the advantage of creating considerable synergies that would complement the strengths of both parties.

In reference to the MOU, both Golden Meditech and Long Bon International will leverage on each others' resources and competitive advantages on the basis of their existing operations to synergistically facilitate market penetration and enhance their respective healthcare businesses, specifically via establishing a joint-venture operation in Taiwan.  The joint effort will be instrumental to stipulate both parties' growth in both mainland China and Taiwan markets.

Mr. Kam Yuen, Chairman of Golden Meditech commented, "The next decade will be a golden opportunity for the development of the healthcare industry in mainland China, as the medical reforms progresses forward, on the back of the launch of ECFA, there will likely be a speeding up in consolidation within the industry.  In addition to our focus in mainland China, Golden Meditech is also actively pursuing business opportunities within the Taiwan markets, capitalizing on the competitive advantages of Long Bon International, to catapult growth in our core business areas."  

Mr. Chu Powei, Chairman of Long Bon International also remarked, "The introduction of ECFA has opened up a channel for Taiwan corporations to penetrate 1,300 million populations in mainland China's healthcare industry.  Healthcare and bio-tech have long been our ongoing business focus and key direction.  With Golden Meditech's integrated enterprises within the healthcare industry in the mainland China, Long Bon International will be able to maximize synergistic value and returns."  

Along with mainland China's medical reforms and the implementation of ECFA, it is expected that there will be greater collaborations and synergies amongst the two shores and three markets, rendering a perfect interval to foster stronger ties between industry counterparts in the healthcare sector and amongst medical professionals.  Both Golden Meditech and Long Bon International will proactively seek to develop potential business opportunities and prospects from peripheral businesses in the healthcare sector between the two shores and three markets through this pending new joint venture.

About Golden Meditech Holdings Limited

Golden Meditech Holdings Limited is mainland 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).  Thanks to its strengths in innovation and market expertise and the ability to capture emerging market opportunities Golden Meditech has, over the years, established itself as a first-mover in China's healthcare industry with dominant positions in medical devices and healthcare services markets.  Going forward, the Group will continue to pursue a leading position in China's healthcare industry both through organic growth and strategic expansion.

About Long Bon International Co., Ltd.

Long Bon International Co., Ltd. is the major shareholder of Taiwan Life Insurance Co., Ltd. with a business portfolio spanning across finance, construction, venture capital, and hot spring resorts.  Built upon a strong background in real estate development, Long Bon International successfully transformed itself into a holding company focusing on group resource allocation and consolidation.  Long Bon International has been actively developing new businesses and has established an Internet shopping platform in 2010 that has entered into a trial operation period.   With a portfolio of two million individual and four thousand corporate policy holders of Taiwan Life Insurance Co., Ltd., Long Bon international has also developed a sizable operation in mainland China.  Long Bon International will capitalize on its portfolio enterprises, riding on emerging opportunities to develop its business in the expansive markets across the Straits.

SOURCE Golden Meditech Holdings Limited