BEIJING, Jan. 22 /PRNewswire-Asia-FirstCall/ -- China Medical Technologies,
Inc. (the "Company") (Nasdaq: CMED), a leading China-based medical device
company that develops, manufactures and markets advanced in-vitro diagnostic
products, today announced that the Company has received approval for its
Prenatal FISH Probe and Cervical Cancer FISH Probe from the State Food and
Drug Administration (the "SFDA") in the People's Republic of China (the "PRC").
The Prenatal FISH Probe is a detection kit for the analysis of trisomies
13, 18 and 21 and sex chromosome aneusomies (X and Y). Prenatal screening of
trisomy 21 (Down Syndrome) is becoming more prevalent in China and the
Prenatal FISH Probe can provide a quicker and more efficient confirmative
approach to the prenatal screening results. The Cervical Cancer FISH Probe is
designed to detect the amplification of the TERC gene in human cervical tissue,
which has been demonstrated to be associated with the severity of cervical
disorders. Detection of the TERC amplification as a biomarker can provide
better assessments of cervical disorders for clinical diagnosis.
The Company's PRC subsidiaries have received approval for the hi-tech
enterprise status from Beijing government authorities. With this status, the
subsidiaries are entitled to a preferential income tax rate of 15% which is
lower than the statutory income tax rate of 25%. The status is valid for
three years and will be renewed after evaluation by relevant government
authorities every three years.
"We are pleased to receive SFDA approval for two of our FISH probes and
achieve the hi-tech enterprise status under new stringent criteria," said Mr.
Xiaodong Wu, Chairman and CEO of the Company. "With the SFDA approval, our
hospital customers in different provinces can apply for the inclusion of the
two FISH Probes in the reimbursement menu of respective provincial medical
insurance programs which we believe will result in increased usage of the
probes in the future. The hi-tech enterprise status demonstrates the
government's recognition of our achievements in developing and manufacturing
advanced innovative products. Furthermore, the PRC government announced
yesterday that an estimated amount of RMB850 billion will be spent in the next
three years on healthcare reform initiatives, with a significant portion in
medical insurance programs. We believe the IVD industry in China will
strongly benefit from these initiatives. As such, we have strong confidence
in the Company's future prospects despite the challenging market environment."
About China Medical Technologies, Inc.
China Medical Technologies is a leading China-based medical device company
that develops, manufactures and markets advanced in-vitro diagnostic (IVD)
products using Enhanced Chemiluminescence (ECLIA) technology, Fluorescent in
situ Hybridization (FISH) technology and Surface Plasmon Resonance (SPR)
technology to detect and monitor various diseases and disorders. For more
information, please visit http://www.chinameditech.com .
Safe Harbor Statement
This press release contains forward-looking statements. These statements
constitute "forward-looking" statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, and as defined in the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking statements
can be identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar statements.
Such statements involve certain risks and uncertainties that could cause
actual results to differ materially from those in the forward-looking
statements. Further information regarding these and other risks is included
in the Company's filings with the U.S. Securities and Exchange Commission,
including its annual report on Form 20-F. The Company does not undertake any
obligation to update any forward-looking statement as a result of new
information, future events or otherwise, except as required under applicable
law.
For more information, please contact:
Winnie Yam
Tel: +86-10-6530-8833
Email: IR@chinameditech.com
SOURCE China Medical Technologies, Inc.