China Health Labs & Diagnostics Ltd. launches new products at ChinaMed 2012
March 27 2012 - 9:00AM
PR Newswire (Canada)
TSX-V: CHO OTCQX: CHLBF www.chinahealthlabs.com TORONTO,
March 27, 2012 /CNW/ - China Health Labs & Diagnostics Ltd.
("China Health" or the "Company") , is pleased to announce that it
has launched four new products at the 24(th) Annual ChinaMed
Conference ("ChinaMed") held at the China National Convention
Center in Beijing China from March 23(rd) to 25(th). ChinaMed
is one of the largest and most influential exhibitions in the
Chinese medical equipment and device industry, co-organized by the
Health Department of General Logistics Department of Chinese
People's Liberation Army, China World Trade Center Co., Ltd., Hui
Tong Xingye International Exhibition (Beijing) Co., Ltd. and Messe
Düsseldorf (Shanghai) Co., Ltd. Over 500 exhibitors from 20
countries and regions participated in ChinaMed, attracting an
estimated 30,000 trade visitors from China and the world. China
Health also exhibited its full line of rural hospital diagnostic
lab total solutions, point-of-care (POCT) lab solutions, food
safety test total solutions and diagnostic equipment for urban
hospitals and labs. The four new products launched at ChinaMed
included the Type C POCT Diagnostic Field Lab and the Rural
Emergency Rescue Medical Total Solution, which were developed under
the Company's research and development agreement with the Chinese
military (see press release dated December 8, 2010); and, the BK
Early Diagnosis System for Cardio-Cerebral Vascular Disease (the
"BK-iED"), and BK Food Safety Rapid Test System ("BK-iRT") which
were developed in the Company's Beijing research and development
facility. The Type C POCT Diagnostic Field Lab was developed to
meet the needs of provincial emergency rescue teams, mine rescue
teams, and clinical laboratory and emergency departments in remote
county hospitals. Compared to Type A POCT and Type B POCT
labs, which were developed for use by the Chinese military, the
Type C is smaller, lighter, and airtight making it easier to
transport and manipulate and more resistant to corrosion and
ash. It also has an enhanced 3G telecommunication module to
facilitate medical telephone consultation between field rescue
operations medical resources in hospitals and labs. The Type C POCT
is equipped with semi-auto biochemical analyzer running 22 tests, a
blood cell counter running 9 tests, a urine analyzer running 11
tests, and an electrolyte analyzer running 5 tests. The Rural
Emergency Rescue Medical Total Solution was developed in response
to Chinese government policy aimed at improving the emergency
rescue system in sparsely populated rural areas, in provinces and
territories such as Xinjiang, Inner Mongolia and Tibet, where there
is a big gap between pre-hospital rescue and in-hospital
treatments. The Rural Emergency Rescue Medical Total Solution
is comprised of a proprietary Stretcher Intensive Care Unit
("Stretcher ICU") which integrates an oxygen cylinder, transfusion
pump, ECG monitor, and ventilator, into a mobile portable bed that
is designed for use in an ambulance. The ambulance is also
equipped with communication and GPS modules to enable continuous
connection between the emergency rescue team, dispatch center and
hospital. The BK Early Diagnosis System for Cardio-Cerebral
Vascular Disease (the "BK-iED") was developed to meet the need for
early diagnosis of cardio and cerebral vascular disease in
retirement homes and communities in China that do not have regular
and convenient access to specialist physicians such as
cardiologists. Due to the aging population in China and
relative shortage of cardiologists that can service retirement
homes and communities, there is a need to have a tool that general
practitioners and medical workers can use to screen for cardio and
cerebral vascular disease. The BK-iED consists of an ECG diagnosis
module, a dry chemistry blood monitor module, and an information
management module. It is also equipped with a 3G telecommunication
module to enable medical workers to do early screening and then
consult with cardiologists and other specialists at larger
hospitals. The Food Safety Rapid Test System ("BK-iRT") was
developed to meet the need for a compact, easy to operate, rapid
and mobile food safety testing solution. Improving food
safety is a major priority for the Chinese government at the
national and local levels, with increasing budgets for monitoring
and enforcement of regulations. To date, China Health has installed
337 enterprise level food safety labs (hosted in large food
distribution and manufacturing enterprises), 17 regional labs, and
17 mobile labs all for the Beijing municipal
government. The BK-iRT was designed such that it can be
transported in a small car and used by teams of health safety
officers responsible for monitoring the thousands of food
distribution nodes that exist in large Chinese cities.
Another target market for the BK-iRT is food safety monitoring for
cafeterias and canteens located in universities and military
compounds. BK-iRT, designed to sample and test food products on
site, integrates sample treatment, detection, and information
management in a mobile, user-friendly system. BK-iRT is able to
conduct over 60 types of tests and consists of a physicochemical
detection module, a pathogenic bacteria identification module, a
biotoxin detection module, and an information management
module. It is also equipped with a 3G telecommunication
module to transmit data and communicate with a network of mobile
and stationary labs. "These four new products were developed to
meet specific medical diagnostic and food testing needs based on
consultation with our customers and our knowledge of Chinese
government policy and budget priorities," said Wilson Yao, CEO of
China Health. "While the products are targeted at different
markets they are all designed to be easy to use, deliver fast and
reliable results and be linked to lab and hospital networks.
We were very encouraged by a successful launch at the ChinaMed
conference, where current and potential customers were able to view
our new and existing products and attend workshops to learn about
the value of our solutions. Our R&D and marketing teams
did a great job of using our market knowledge and proprietary
technology to develop new products that address urgent needs in the
large and growing Chinese market for medical diagnostics and food
safety testing." About China Health Labs & Diagnostics Ltd.
China Health, operating in China as the Biochem Group, is a leading
diagnostic lab solution provider for the public healthcare industry
in China. The Company develops and sells Biochem Group branded and
third-party medical diagnostic products and services to diagnostic
facilities in China. Customers include large urban hospitals, rural
hospitals, Chinese military and rescue operations, the Beijing
government and third-party distributors. In 2010, China Health had
revenues of approximately $33.7 million, and intends to expand its
business by focusing its efforts on expanding its sales network in
three areas where it provides proprietary solutions, has limited
competition and that are supported by Chinese government policy and
budgets: BK Clinlab total lab solutions for rural hospitals and
clinics, POCT solutions for military and emergency rescue services,
and food safety solutions for large cities in China. Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING INFORMATION This press release contains
forward-looking statements and information that are based on the
beliefs of management and reflect China Health's current
expectations. When used in this press release, the words
"estimate", "project", "belief", "anticipate", "intend", "expect",
"plan", "predict", "may" or "should" and the negative of these
words or such variations thereon or comparable terminology are
intended to identify forward-looking statements and
information. The forward-looking statements and information
in this press release includes information relating to the
expansion of the Company's business through its sales network in
areas where it has proprietary products, limited competition and
strong government support. The forward-looking information is
based on certain assumptions, which could change materially in the
future, including the assumption that the Company will be able to
expand its sales network and business. Such statements and
information reflect the current view of China Health with respect
to risks and uncertainties that may cause actual results to differ
materially from those contemplated in those forward-looking
statements and information. By their nature, forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause our actual results, performance or
achievements, or other future events, to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such factors include,
among others, the risk that the Company may not be able to expand
its business as expected through its sales network in any of the
areas in which it has proprietary products, limited competition and
strong government support. China Health cautions that the
foregoing list of material factors is not exhaustive. When
relying on China Health's forward-looking statements and
information to make decisions, investors and others should
carefully consider the foregoing factors and other uncertainties
and potential events. China Health has assumed a certain
progression, which may not be realized. It has also assumed
that the material factors referred to above will not cause such
forward-looking statements and information to differ materially
from actual results or events. However, the list of these
factors is not exhaustive and is subject to change and there can be
no assurance that such assumptions will reflect the actual outcome
of such items or factors. THE FORWARD-LOOKING INFORMATION CONTAINED
IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF CHINA HEALTH
AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT
TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE
IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON
THIS INFORMATION AS OF ANY OTHER DATE. WHILE CHINA HEALTH MAY
ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY
PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE
LAWS. CHINA HEALTH LABS & DIAGNOSTICS CONTACT: Judyanna
ChenChief Financial OfficerChina Health Labs & Diagnostics
Ltd.T: (416) 865-3351Email: jchen@chinahealthlabs.comBabak
PedramInvestor RelationsTMX Equicom GroupT: (416) 815-0700 ext.
264Email: bpedram@equicomgroup.com
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