NEW YORK, NY and TONGHUA, CHINA--(Marketwire - December 19, 2011) - BioPharm Asia (PINKSHEETS: BFAR) and Elite Capital Group announced today the signing of a consulting agreement for the development of a 1,000-bed Fangzhuang Hospital and Training Center to be located in Fangzhuang, Beijing. BioPharm Asia will serve as master consultant for the project which is scheduled to begin construction in 2012.
Xiayang Hu, CEO of BioPharm Asia, said, "We are delighted to confirm Elite Capital Group's contract in which our Hospital Management Division will provide key development services as well as assist in the operations of the facility. We are confident that we have the range of skills and services to help Elite Capital Management create new models of healthcare and flexible therapeutic environments."
Andrew Lee, Partner & Managing Director of Elite Capital Group, said, "Substandard healthcare is changing in China, especially the rapid economic progress has improved the financial well being of china's growing middle class. The demands of courteous healthcare professionals in the residential area have risen sharply. Our focus is to pursue this major phenomenon in the Chinese healthcare marketplace and with the help of BioPharm Asia's hospital management expertise to develop a chain of efficient, clean, well-maintained hospitals."
About BioPharm Asia, Inc.
BioPharm Asia, Inc. is engaged in the retail sale of medical products in China, complemented by vertically integrated supporting functions that include the cultivation of Chinese herbal medicines, pharmaceutical production and wholesale medicine distribution. For more information, please visit http://www.biopharmasiainc.com.