China Medical Technologies buys assets from Molecular Diagnostics Technologies

Fri. October 10, 2008; Posted: 03:15 AM

BEIJING, Oct 10, 2008 (Xinhua via COMTEX) -- CMED | Quote | Chart | News | PowerRating -- China Medical Technologies, Inc ( NASDAQ.CMED) recently signed an agreement with Molecular Diagnostics Technologies to buy HPV-DNA Biosensor Chip and the analysis system based on Surface Plasmon Resonance for 345 million U.S. dollars in cash.

It's expected that the purchased HPV-DNA Biosensor Chip will generate 23.6 million-26.5 million U.S. dollars of revenues for China Medical Technologies each year starting from 2009, with gross profit margin estimated at around 80 percent.

China Medical Technologies forecasted that this would contribute 0. 16-0.21 U.S. dollars of non-GAA P income for every share of ADS.

China Medical Technologies will complete the final payment within one year from the closing of the acquisition using existing available capital.

For full details on China Medical Technologies Inc (CMED) click here. China Medical Technologies Inc (CMED) has Short Term PowerRatings of 5. Details on China Medical Technologies Inc (CMED) Short Term PowerRatings is available at This Link.

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