Libo Yang, Chief Executive Officer of Kanghui commented, “Today’s announcement is a key component of our plan to launch a full line of reconstruction products in China and in international markets over the next three years. With this acquisition, we expect to launch our first joint implant product into the Chinese market by early 2012, which offers Kanghui another driver for future growth.
“By combining our manufacturing, sales and distribution infrastructure with Wei Rui Li’s proven product development capability, we believe that Kanghui and Wei Rui Li can make significant inroads in the reconstruction market in China. We expect to offer sophisticated instrumentation, affordable pricing and products specifically tailored to Asian anatomy, which we believe constitute very competitive offerings in this sector,” said Yang.
Chen Yu, Chief Business Officer, said, “Together with our recently established exclusive partnership with Consensus Orthopedics, we are putting the pieces in place to address this compelling and underserved market. By offering a full range of joint reconstruction products, including those that are US FDA approved, we intend to become a leader in this critical segment of the orthopedic market both in China and our international markets. Ultimately, this bolsters our ability to become the premier domestic orthopedic provider in China.”
About China Kanghui Holdings
Founded in 1997, Kanghui is a leading domestic developer, manufacturer and marketer of orthopedic implants in China. The Company offers a wide array of proprietary orthopedic implant products in trauma and spine. It has an extensive network of distributors for its products in China. In addition, Kanghui’s products are distributed in 27 countries. Kanghui has strong research and development capabilities, focused on developing new proprietary products, including new product lines, extensions of existing product lines and enhancements of existing products. For more information, please visit www.kanghui.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This press release contains certain “forward-looking statements” within the meaning of federal securities laws. All statements, other than statements of historical facts, included herein are “forward-looking statements” including, among other things, Kanghui’s expected completion date of the proposed acquisition of Wei Rui Li, the expected time for Kanghui to launch its first joint implant product, and the effectiveness and synergy of the proposed acquisition of Wei Rui Li to strengthen the Company’s product offerings and market leading positions and to improve its profits and future prospects. The expectations reflected in these forward-looking statements involve significant assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, in addition to those results discussed in the Company’s periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Contact:
China Kanghui Holdings Investor Relations Department, 646-416-6822 or ICR, LLC In the U.S.: Ashley Ammon De Simone, 1-646-277-1227 or In China: Wen Lei Zheng, 86-10-6583-7510
