March 22, 2023

Golden Meditech Increased Shareholdings in Qinghe Hospital to 82.73%

HONG KONG, July 18, 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 today that GM Hospital Group Limited ("GMHG"), a non-wholly-owned subsidiary specialised in operating the hospital management business has increased its shareholdings in Beijing Qinghe Hospital ("Qinghe Hospital") to 82.73% for a cash consideration of approximately HK$154 million.

The Qinghe Hospital is located at Haidian District in Beijing which specialised not only in haematology but also provides a broad range of medical disciplines such as obstetrics and gynaecology, paediatrics, ophthalmology and dentistry. With a total floor area of approximately 75,000 m2, this hospital is designed to meet the highest healthcare standards in Mainland China, providing 600 beds, including 48 beds for the haematology wards.

Mr. Kam Yuen, Chairman and Chief Executive Officer of the Group, said, ‘Golden Meditech has always been committed to developing hospital management business in Mainland China. The Qinghe Hospital has delivered progress that is in line with the management’s expectation during the trial run. We are strongly convinced that the earnings momentum of hospital management business will start to gain traction and become our core growth driver in the future with rising contribution from Qinghe Hospital. We are delighted to take this timely opportunity to increase our interest in Qinghe Hospital, and strengthen our core competence and competitiveness through this transaction.’ Mr. Kam continued, ‘The demand for high quality healthcare services in Mainland China is and will continue to be driven by better living standards and government’s dedication to promoting healthcare reforms in the long run. As we capitalize the market opportunity bought forth by the medical reforms, Golden Meditech will continue to focus on providing high-end medical products and services across Mainland China which is an expanding market full with unmatched demands.’