2009-08-12

Fenwal and Golden Meditech Agree to Form Joint Venture in China for Blood Collection and Transfusion Technologies


Hong Kong and Lake Zurich, Illinois (ots/PRNewswire) -

Fenwal, Inc. of Lake Zurich, Illinois, and Golden Meditech (stockcode: 801.HK) of Hong Kong, announced today they have agreed to forma joint venture in China to focus on blood collection and transfusionproducts 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 customarycompany and regulatory conditions.

Medical professionals in China are expected to benefit from thecombination of Fenwal's technological leadership in blood collection,separation, preservation and transfusion, and Golden Meditech'sexpertise in China's blood-related medical device and blood-bankingfields. Fenwal will own 51 percent of the joint venture and GoldenMeditech will own 49 percent.

The joint venture will operate from Beijing and serve customersthroughout China. Initially, the joint venture will focus on salesand distribution of a range of Fenwal and Golden Meditech products,including Fenwal's AMICUS(R) system, a cell-separation system used tocollect platelets; Golden Meditech's 3000H Plasma Exchange system,which is designed to remove toxins from patients' blood; and relatedsupplies used to collect, process, preserve and transfuse blood andblood components.

"Fenwal is a pioneer and leader in advanced blood technologies,"said Mr. Kam Yuen, Golden Meditech's chairman and chief executiveofficer. "We're looking to bring together the leadership, knowledgeand capabilities of both companies to expand and customize ourofferings for blood collection and transfusion medicine in China."

"Golden Meditech is a respected medical leader with extensiveknowledge of the China market," said Ron K. Labrum, Fenwal'spresident and chief executive officer. "Its people, technologies andinfrastructure will complement Fenwal's current offerings in China.Together, we expect to create new opportunities to expand the marketfor advanced blood technologies that will benefit patients throughoutChina."

About Fenwal

Fenwal, Inc. became an independent company in 2007, but its rootsgo back to 1949 with the founding of Fenwal Laboratories. Fenwaldeveloped the first flexible, disposable container for bloodcollection, eliminating complications associated with glasscontainers and allowing blood to be separated into therapeuticcomponents. Today, the company's products and advanced collection andseparation technologies are used throughout the world to help ensurea safe and available supply of lifesaving blood and blood products.Fenwal Inc. is based in Lake Zurich, Illinois. For more information,please visit http://www.fenwalinc.com .

About Golden Meditech

Founded in 2000, Golden Meditech was listed on the GrowthEnterprise Market of the Stock Exchange of Hong Kong Limited (HKEX)in December 2001, as the first high-tech medical device enterprisethat went public outside of the PRC, and was granted the main boardlisting in June 2009. During the past few years, thanks to its greatefforts in innovation and market expansion, as well as itsfirst-mover abilities in emerging markets, Golden Meditech's medicaldevices, cord blood banking services and natural herbal medicineshave established leading positions. Going forward, Golden Meditechwill continue its pursuit of becoming China's leading integratedmedical group through organic growth, acquisitions and strategicinvestments. For more information, please visithttp://www.goldenmeditech.com .

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

ots Originaltext: Golden Meditech; Fenwal, Inc.Im Internet recherchierbar: http://www.presseportal.de

Contact:For Golden Meditech - Dennis Haikuan Lu, +852-3605-8138, or dennis@goldenmeditech.com; or For Fenwal, Inc. - Tanya Tyska, +1-847-550-2732, or Tanya.Tyska@fenwalinc.com, or Geoffrey Fenton, +1-847-550-2321, or Geoffrey.Fenton@fenwalinc.com

Golden Meditech; Fenwal, Inc.

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Fenwal and Golden Meditech Agree to Form Joint Venture in China for Blood Collection and Transfusion Technologies

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