BETHESDA, Md., July 11 Chindex International, Inc.(Nasdaq: CHDX), an independent American provider of international healthcareservices and Western healthcare products in the People's Republic of China,today announced that it has signed two contracts for the supply of EUR10.8million of laboratory and hospital products to Centers for Disease Control inChina's Gansu and Inner Mongolia provinces. The projects were awarded toChindex's German subsidiary, Chindex China-Export GmbH, in late January, andthe contracts were signed on Monday in a ceremony in Beijing attended byofficials from the Chinese National Development and Reform Commission,Ministry of Finance, Ministry of Health, Ministry of Commerce, the GermanEmbassy, and the German KfW Development Bank.
Speaking at the ceremony after signing the contracts, Chindex CEO RobertaLipson stated, ''We are privileged to have the opportunity to work with thevarious Chinese Government entities represented here to undertake majorupgrades to the Centers for Disease Control in Gansu and Inner Mongoliaprovinces. The execution of this program, made possible by the GermanGovernment through its KfW Development Bank, is very complex and demands thekind of specific loan and contract execution expertise that Chindex hasdeveloped. Now that the contracts have been finalized, we look forward todelivering the much-needed products as soon as possible."
Signing on behalf of the Chinese buyer, Minmetals International TenderingCo., Ltd., was General Manager Long Yu, who commented, ''We have worked withChindex to procure medical equipment on many prior projects, and are pleasedto be cooperating with Chindex again on this important project to bringmuch-needed equipment to China's CDCs. Chindex is a well-respected supplierand brings to this partnership more than 10 years of experience in executinggovernment loan projects. We are confident that these contracts will besuccessful and mutually beneficial for all parties involved.''
Shipments under these contracts are expected to begin before the end ofthe calendar year after certain administrative matters are concluded. Chindexis involved in bidding and negotiating several other government-sponsored loanprojects, and the Company continues to look to the growth of these programs asa primary driver of renewed profitability in its medical products business.
About Chindex International, Inc.
Chindex is an American healthcare company that provides healthcareservices and supplies medical capital equipment, instrumentation and productsto the Chinese marketplace, including Hong Kong. It provides healthcareservices through the operations of its United Family Hospitals and Clinics, anetwork of private primary care hospitals and affiliated ambulatory clinics inChina. The Company's hospital network currently operates in the Beijing andShanghai metropolitan areas. The Company sells medical products manufacturedby various major multinational companies, including Siemens AG and IntuitiveSurgical, which are the Company's exclusive distribution partners for the saleand servicing of color doppler ultrasound systems and surgical robotic systemsrespectively. It also arranges financing packages for the supply of medicalproducts to hospitals in China utilizing the export loan and loan guaranteeprograms of both the U.S. Export-Import Bank and the German KfW DevelopmentBank. With twenty-seven years of experience, approximately 1,200 employees,and operations in China, Hong Kong, the United States and Germany, theCompany's strategy is to expand its cross-cultural reach by providing leadingedge healthcare technologies, quality products and services to Greater China'sprofessional communities. Further company information may be found at theCompany's websites, http://www.chindex.com andhttp://www.unitedfamilyhospitals.com .
Statements made in this press release relating to p