Julianna Lu, President/CEO of China Health Holding, Inc.,(CHH) a developer, marketer and manufacturer of natural herbal supplement products based on traditional Chinese medicine, announced CHH closes and executes ACQUISITIONS DEFINITIVE AGREEMENT with Mr. Zhu, WenChen, Chairman of Board and HENAN FUREN Pharmaceuticals Group Co. Ltd for acquisition 60% of Henan Furen Huaiqingtang Pharmaceuticals Co. Ltd. (HFHT), a controlled-owned-subsidiary by Henan Furen Pharmaceuticals Group Co. Ltd.
CHH agreed to pay $95 million RMB for completing transaction to acquire 60% of HFHT with approximately $100 million RMB worth of total assets, and approximately $110 million RMB annual gross revenues, and China-FDA Certified Pharmaceutical Drug GMP Manufacturing Facilities, with approximately a total lands positions of 2,800 square meters, and a total of 11,500 square meters buildings and facilities, based in ZhengZhou, PR China.
HFHT has a total Forty-Six (46) China-FDA Certified Pharmaceutical Drug Pipeline which are fully distributing into China-FDA Licensed Hospitals and Drugs Stores across Henan province and Across PR China. HFHT's total 46 pharmaceutical injections drugs are specialized in medical treatments as Anti-Cancers drugs, Antibiotics drugs, Local Anaesthetics drugs, and Leukemia drugs, Dermatosis drugs, Analgesic drugs, Anticoagulants drug, Immunomodulator Drug, Cerebrovascular drugs, Antipyretics-analgesic and anti-inflammatory drugs, Thrombolytic drugs, Antimemic drugs, Cholinoceptor-blocking drugs, Digestion system drugs, Histamine Activator drug, Antifibrinolytics drugs, Hematonosis drugs,etc.
Further integration of transaction completion upon full due diligence satisfaction, CHH intend to create incremental value from the acquisition of HPHT. By the end of the coming fourth quarter 2006 approximately, CHH will recognize contribution from HPHT and expect the business to positively impact our reported results and the acquisition will contribute positively to both revenue and earnings power and assets.
By acquiring HFHT we will obtain established China-FDA Certified Pharmaceutical Drug GMP manufacturing Facilities and an extensive hospitals and drugs stores distribution channel in China and an enhanced 46 China-FDA Certified Pharmaceutical Injections Drugs Pipeline.
From a strategic perspective, this acquisition saves both time and money as it would have required substantial time and capital investment if we were to build such China-FDA certified Pharmaceutical Drug Facilities and 46 China-FDA Licensed Approved Pharmaceutical Drugs Pipeline and across China hospitals and drugs network from the ground up.
Source:佚名