Message #26 From:
NewsBot Date: October 16, 2006 06:48:00 AM
CHHH News China Health Holding Announces Execution of Acquisition Letter of Intent to Acquire 51% or More of Beijing Boran Pharmaceutical
LAS VEGAS--(BUSINESS WIRE)--Julianna Lu, the Founder/CEO of China Health Holding (the Company)
(OTCBB:CHHH), a development stage company with the goal of becoming an
undisputed leading developer, manufacturer, marketer and distributor in
the global medical and pharmaceutical industry in China and worldwide,
announced today that the Company has executed a Letter of Intent with
Beijing Boran Pharmaceutical Co. Ltd. (PR China) for the proposed
acquisition by the Company of 51% or more of Beijing Boran
Pharmaceutical Co. Ltd.
Pursuant to the Letter of Intent, the parties have expressed further
cooperation and accomplishment of the 51% or more acquisition of Beijing
Boran Pharmaceutical Co. Ltd. by the Company. Further, Beijing Boran
Pharmaceutical Ltd. has agreed to offer the Company first refusal rights
and legal exclusive rights for 51% or more of Beijing Boran
Pharmaceutical Co. Ltd. within nine months from the dated and signed
Letter of Intent. The completion of the acquisition is subject to the
negotiation and execution of a definitive acquisition agreement, as well
as the completion of full legal and financial due diligence, including
the determination of the valuation of Beijing Boran Pharmaceutical Co.
Ltd., and the completion and delivery of audited financial statements of
Beijing Boran Pharmaceutical Co. Ltd. The acquisition contemplated by
the Letter of Intent with Beijing Boran Pharmaceutical Co. Ltd. is part
of the Company's comprehensive growth strategy. Management believes that
its strategy of pursuing the strategic combination of assets and net
income and unique enhanced China-SFDA licensed pharmaceutical drug
pipeline and technologies will accrete value to the Company and its
shareholders. Management also believes that its acquisition growth
strategy will assist the Company in securing a strong future and
powerful position in the global and Chinese natural medicinal and
pharmaceutical industries.
About Beijing Boran Pharmaceutical Co. Ltd.
Beijing Boran Pharmaceutical Co. Ltd., a China –
SFDA licensed GMP pharmaceutical drug (herbal-based) corporation, as
well as a pharmaceutical manufacturer, researcher and developer, is
headquartered in Beijing PR China with approximately 7300 square meters
of land and a total of 2100 square meters of facilities and buildings.
With the most advanced pharmaceutical GMP manufacturing
facilities/technologies and technical teams, Beijing Boran
Pharmaceutical also controls and owns subsidiary companies, including
Beijing Aokai Pharmaceutical and Medical Research Institution, Beijing
Xiangwei Herbal Medicinal Co. Ltd., and Beijing Boran Pharmaceutical and
Medical Development Co. Ltd., etc. Beijing Boran Pharmaceutical has
about 30 pharmaceutical drug (herbal-based)pipelines licensed by
China-SFDA.
About China Health Holding, Inc.
China Health Holding, Inc. has an extensive knowledge of and expertise
in the field of Traditional Chinese Medicine and the China
pharmaceutical industry, which it uses to develop, manufacture, and
commercialize natural herbal medicinal products and pharmaceutical drug
pipelines and technologies worldwide.
CHHH's immediate goal is profitable penetration of the growing global
and China pharmaceutical industry and market. Also to seek and develop
and complete potential acquisition candidates with major pharmaceutical
companies in PR China and worldwide to secure a strong future and
powerful position in the global and PR China pharmaceutical industry.
Long-term plans include the development of a pharmaceutical drug
pipeline and technology based on the Company's access to the knowledge
of Traditional Chinese Medicine and PR China pharmaceutical industry.
CHHH is supported by two core, wholly
owned subsidiaries:
1. China Health World Pharmaceutical Corporation, which will develop,
manufacture and commercialize natural medications for epidemic diseases
and conditions related to mellitus, cardiovascular and cerebral-vascular
system dysfunctions, and neurological disorders.
2. China Health World Trade Corporation, which will support CHHH in the
areas of worldwide retain/franchise stores/infrastructure and worldwide
branding, multimedia marketing and multi-channel distribution to global
customers and markets.
Recent Developments and Acquisition
Progress:
1. The Company controls/owns exclusive worldwide ownership/rights for a
total of 134 proprietary natural herbal medicinal products/formulas as
Two Natural Herbal Medicinal Product lines: King of Herbs products and
Taoist Medicinal products. The Company is developing and execution for
further worldwide branding, multimedia marketing and multi-channel
distribution, and worldwide retail and franchise stores/infrastructure
to global customers and markets.
2. CHHH has executed a definitive acquisition agreement to acquire 60%
of Henan Furen Huaiqingtang Pharmaceuticals Co. Ltd.
3. CHHH has executed a definitive acquisition agreement to acquire 100%
of Shaanxi MeiChen Pharmaceuticals Co. Ltd.
4. CHHH recently entered into letters of intent to acquire 51% or more
of the following pharmaceutical companies in PR China:
i. Shaanxi Wanan Pharmaceuticals Co. Ltd.
ii. Henan Tiankang Pharmaceuticals Co. Ltd.
CHHH believes that the completion of these acquisitions will enable it
to vertically integrate its operations from manufacturing, developing
and marketing Chinese herbal-based medicinal products, as well as a
pharmaceutical drug pipeline, to full distribution and marketing across
PR China, therefore substantially increasing profit margins.
Acquisitions should accelerate growth of revenues and earnings. A
strategic combination of assets, net income, an enhanced pharmaceutical
drug pipeline and technologies will accrete value to the Company and its
shareholders.
In addition, CHHH also recently signed a letter of intent with WangJing
Hospital and the WangJing Hospital of China Academy of Chinese Medical
Sciences, PR China, in order to develop the China International
University of Traditional Chinese Medicine and the University Hospital
for Traditional Chinese Medical Sciences.
Safe Harbor
To the extent that statements in the press release are not strictly
historical, including statements as to revenue projections, business
strategy, outlook, objectives, future milestones, plans, intentions,
goals, future financial conditions, future collaboration agreements, the
success of the Company's development, events conditioned on stockholder
or other approval, or otherwise as to future events, such statements are
forward-looking; all forward-looking statements, whether written or
oral, and whether made by or on behalf of the Company, are expressly
qualified by the cautionary statements and any other cautionary
statements, which may accompany the forward-looking statements, and are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. The forward-looking statements contained
in this release are subject to certain risks and uncertainties that
could cause actual results to differ materially from the statements
made. Other important factors that could cause actual results to differ
materially include the following: business conditions and the amount of
growth in the Company's industry and general economy; competitive
factors; ability to attract and retain personnel; the price of the
Company's stock; and the risk factors set forth from time to time in the
Company's SEC reports, including but not limited to its annual report on
Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on
Form 8-K. In addition, the company disclaims any obligation to update or
correct any forward-looking statements in all of the Company's press
releases to reflect events or circumstances after the date hereof.
