Press release from CNW Group
China Health Labs & Diagnostics Ltd. announces conference call to discuss results of the first quarter ended March 31, 2012 and presentation at BioFinance 2012
Wednesday, May 23, 2012
- Financial Results for the First Quarter Ended March 31, 2012 to be released on May 30, 2012
- BioFinance presentation on May 30, 2012
TORONTO, May 23, 2012 /CNW/ - China Health Labs & Diagnostics Ltd. ("China Health" or the "Company") (TSXV: CHO; OTCQX: CHLBF), is pleased to announce that after market close on Wednesday, May 30, 2012, it will be releasing its results for the first quarter ended March 31, 2012, and will be hosting an investor conference call on Thursday, May 31, 2012 at 10:00 am (Eastern Time). The purpose of this conference call will be to provide investors with an update of the first quarter results of the Company. Representing China Health on the conference call will be:
|Mr. Shiping (Wilson) Yao, President and Chief Executive Officer|
|Ms. Judyanna Chen, Chief Financial Officer|
|Mr. Kim Oishi, Member of the Board of Directors|
|Mr. Chao Zhang, Vice President, Finance|
Following the update, a question and answer session will be held. To participate, the dial-in instructions are as follows:
|DATE:||Thursday, May 31, 2012|
|TIME:||10:00 am, Eastern Time|
Participant Dial-In Number(s):
|North America Toll-Free Dial-In Number:||1 (888) 231-8191|
|For Toronto and International Callers:||1 (647) 427-7450|
A taped replay will be available from 1:00 pm Eastern Time on May 31, 2012 to 11:59 pm Eastern Time on June 14, 2012.
Taped Replay Toll Free Number: 1 (855) 859-2056
Taped Replay Local Dial-in Numbers:
|(778) 371-8506||(416) 849-0833||(514) 807-9274|
|(403) 451-9481||(613) 667-0035||(902) 455-3955|
Taped Replay Password: 83319568
The Company is also pleased to announce that Mr. Kim Oishi, a Director of the Company, will provide a corporate update on China Health at BioFinance 2012 on Wednesday, May 30, 2012 at 9:40 a.m. Eastern Time. The conference will be held at the St. Andrew's Club & Conference Centre at 150 King Street West in Toronto, Ontario.
BioFinance is the leading investor conference in Canada for the life sciences industry. This event brings together key industry players interested in investment opportunities and issues affecting companies in the life sciences sector. Presenting companies span a range of industries including biologics, medical devices, drug delivery, vaccines, and diagnostics.
About China Health Labs & Diagnostics Ltd.
China Health, operating in China as the Biochem Group, is a leading diagnostic lab solution provider for the public healthcare industry in China. The Company develops and sells Biochem Group branded and third-party medical diagnostic products and services to diagnostic facilities in China. Customers include large urban hospitals, rural hospitals, Chinese military and rescue operations, the Beijing government and third-party distributors.
The Company intends to continue its growth by focusing its efforts on expanding its sales network in three areas where it provides proprietary solutions, has limited competition and which are supported by Chinese government policies and budgets: BK Clinlab total lab solutions for rural hospitals and clinics, POCT solutions for military and emergency rescue services, and food safety solutions for large cities in China. In 2011, China Health increased its revenues by 35% to $45.6 million, and increased its installed base of BK Clinlab total solution diagnostic labs ("BK Clinlabs") from 210 at the start of 2011 to 833 rural hospitals. In addition, the Company grew revenues from its overall total lab solutions business by 99% from 2010, which increased gross margins to 44% in 2011 as compared to 39% in 2010.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING INFORMATION
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect China Health's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release includes information relating to the expansion of the Company's business through its sales network in areas where it has proprietary products, limited competition and strong government support. The forward-looking information is based on certain assumptions, which could change materially in the future, including the assumption that the Company will be able to expand its sales network and business. Such statements and information reflect the current view of China Health with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the risk that the Company may not be able to expand its business as expected through its sales network in any of the areas in which it has proprietary products, limited competition and strong government support. China Health cautions that the foregoing list of material factors is not exhaustive. When relying on China Health's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. China Health has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to above will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF CHINA HEALTH AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE CHINA HEALTH MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
For further information:
Chief Financial Officer
China Health Labs & Diagnostics Ltd.
T: (416) 865-3351
TMX Equicom Group
T: (416) 815-0700 ext. 264