MEDIA RELEASE PR35670
Fenwal and Golden Meditech Agree to Form Joint Venture in China for Blood Collection and
Transfusion Technologies
HONG KONG and LAKE ZURICH, Ill., Aug. 12 /PRNewswire-Asia-AsiaNet/ --
Fenwal, Inc. of Lake Zurich, Illinois, and Golden Meditech (stock code: 801.HK) of Hong Kong, announced
today they have agreed to form a joint venture in China to focus on blood collection and transfusion products
for the fast-growing Chinese medical market.
The transaction is expected to be completed in early 2010, subject to the signing of a definitive agreement
and other customary company and regulatory conditions.
Medical professionals in China are expected to benefit from the combination of Fenwal's technological
leadership in blood collection, separation, preservation and transfusion, and Golden Meditech's expertise in
China's blood-related medical device and blood-banking fields. Fenwal will own 51 percent of the joint venture
and Golden Meditech will own 49 percent.
The joint venture will operate from Beijing and serve customers throughout China. Initially, the joint venture
will focus on sales and distribution of a range of Fenwal and Golden Meditech products, including Fenwal's
AMICUS(R) system, a cell-separation system used to collect platelets; Golden Meditech's 3000H Plasma
Exchange system, which is designed to remove toxins from patients' blood; and related supplies used to
collect, process, preserve and transfuse blood and blood components.
"Fenwal is a pioneer and leader in advanced blood technologies," said Mr. Kam Yuen, Golden Meditech's
chairman and chief executive officer. "We're looking to bring together the leadership, knowledge and
capabilities of both companies to expand and customize our offerings for blood collection and transfusion
medicine in China."
"Golden Meditech is a respected medical leader with extensive knowledge of the China market," said Ron
K. Labrum, Fenwal's president and chief executive officer. "Its people, technologies and infrastructure will
complement Fenwal's current offerings in China. Together, we expect to create new opportunities to expand
the market for advanced blood technologies that will benefit patients throughout China."
About Fenwal
Fenwal, Inc. became an independent company in 2007, but its roots go back to 1949 with the founding of
Fenwal Laboratories. Fenwal developed the first flexible, disposable container for blood collection, eliminating
complications associated with glass containers and allowing blood to be separated into therapeutic
components. Today, the company's products and advanced collection and separation technologies are used
throughout the world to help ensure a safe and available supply of lifesaving blood and blood products.
About Golden Meditech
Founded in 2000, Golden Meditech was listed on the Growth Enterprise Market of the Stock Exchange of
Hong Kong Limited (HKEX) in December 2001, as the first high-tech medical device enterprise that went
public outside of the PRC, and was granted the main board listing in June 2009. During the past few years,
thanks to its great efforts in innovation and market expansion, as well as its first-mover abilities in emerging
markets, Golden Meditech's medical devices, cord blood banking services and natural herbal medicines have
established leading positions. Going forward, Golden Meditech will continue its pursuit of becoming China's
leading integrated medical group through organic growth, acquisitions and strategic investments. For more
For Golden Meditech
Dennis Haikuan Lu
+852-3605-8138
dennis@goldenmeditech.com
For Fenwal, Inc.
Tanya Tyska
+1-847-550-2732
Tanya.Tyska@fenwalinc.com
Geoffrey Fenton
+1-847-550-2321
Geoffrey.Fenton@fenwalinc.com
SOURCE: Golden Meditech; Fenwal, Inc.
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