Navigation Links
China Medical Technologies Responds to the Allegations Raised by Glaucus Research Group
Date:12/6/2011

160;

Allegation 2

CMED sold its primary business segment, responsible for the majority of the firm’s sales since inception, to the chairman at less than 2x trailing EBITDA.We believe that this suspicious looking transaction was designed to cover up that the Chinese FDA was about to (or already had) suspended CMED’s permit to sell HIFU products, thus rendering CMED’s core business segment worthless almost overnight. (Source: Glaucus Research Group)

Again, the allegation by Glaucus indicates its team’s lack of commercial knowledge. Mr. Wu would not pay US$53.5 million to buy the business from the Company if he knew that the HIFU business would be suspended by SFDA around mid-2009 before the purchase in December 2008. It was fine to let the suspension happen as the decision of SFDA, a government agency, was not within the control of the Company or its management.  Glaucus’s reasoning is also conflicting.  If the business is known to be worthless, nobody should buy the business even at 2X EBITDA of historical financial results.  The Company provided a detailed discussion for the sale of the HIFU business to Mr. Wu in the Company’s press release in December 2008 while Glaucus only extracted partial information favorable to Glaucus’s analysis and allegation.  Besides, the sale of the HIFU business to Mr. Wu was part of the internal investigation conducted in 2009.  The investigation did not find anything wrong for the sale of the business.  The investigators reviewed the independent business evaluation of the HIFU prepared by a Big Four firm.

Allegation 3

Despite a purportedly profitable business, CMED is a serial capital raiser and has not generated free cash flow for most of its history. The company has spent twice as much on “investing activities” as it has purportedly generated from operations, so much like a typi
'/>"/>

SOURCE China Medical Technologies, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6

Related medicine technology :

1. China Health Resource Receives Letter of Intent for DAR Totaling About $8 Million
2. China Health Resource Completes Key Research Project - New Proprietary Product Lines
3. The Outlook for Medical Devices in Brazil, Russia, India & China
4. China Health Resource Goes Global
5. China Cord Blood Corporation Reports Financial Results for the Second Quarter and First Half of Fiscal 2012
6. China Nepstar Chain Drugstore Reports Third Quarter 2011 Financial Results
7. Sinovac to Present at 23rd Annual Piper Jaffray Health Care Conference and HK/China Mini Conference 2011 (Healthcare)
8. China Health Resource Announces Record Breaking 3rd Quarter 2011 Financial Results
9. China Medical Technologies Reports Second Fiscal Quarter Financial Results
10. The Outlook for Pharmaceuticals in Brazil, Russia, India & China
11. RNL Opens the Worlds Largest Stem Cell Medical Center in Beijing, China
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/19/2014)... Sept. 19, 2014 Research and Markets ... (Diabetes, Obesity, Autoimmune, Cancer, Diarrhea, Mental Disorder) Market - Forecast ... the purposes of this report, the human microbiome market is ... human microbiome market is expected to be valued as $294 ... CAGR of 22.3% within the forecast period of 2019-2023. The ...
(Date:9/19/2014)... 19, 2014 Five MinuteClinic walk-in medical clinics are opening ... metropolitan area. Three clinics opened in Memphis ... clinic will be added in Springfield on ... is expected to open October 22.  MinuteClinic is the largest ... the United States . The Memphis ...
(Date:9/19/2014)... DIEGO , Sept. 19, 2014  Lpath, ... leader in bioactive lipid-targeted therapeutics, announced today that ... 3,605,042 registered shares of common stock and 3,605,042 ... combined purchase price for one registered share of ... one unregistered share of common stock will be ...
Breaking Medicine Technology:Global Human Microbiome (Diabetes, Obesity, Autoimmune, Cancer, Diarrhea, Mental Disorder) Market - Forecast to 2023 2Global Human Microbiome (Diabetes, Obesity, Autoimmune, Cancer, Diarrhea, Mental Disorder) Market - Forecast to 2023 3MinuteClinic Walk-in Medical Clinics Opening in Memphis 2MinuteClinic Walk-in Medical Clinics Opening in Memphis 3Lpath, Inc. Announces $12.5 Million Registered Direct Offering 2Lpath, Inc. Announces $12.5 Million Registered Direct Offering 3
(Date:9/22/2014)... OH (PRWEB) September 22, 2014 A ... 2014, to set up the discovery phase for testosterone ... District Court, Northern District of Illinois. Wright & ... until mid October to submit initial disclosures about potential ... further instructed attorneys to continue negotiating the topics in ...
(Date:9/21/2014)... Dry Face Brushing brings benefits to facial ... Dry Brushing improves blood circulation and tone, feeding nutrients to ... toxins and debris from the skin , 3) Dry Face ... Body Brushing can and should be done daily, there are ... fragile and thinner, it needs less. Normal, dry and ...
(Date:9/21/2014)... a partial smoking ban at a homeless shelter can ... an indicator of exposure to cigarette smoke, and may ... new research. The University of Texas Health Science Center ... in the journal Addictive Behaviors . , The ... to 18 percent among adults, but among homeless adults, ...
(Date:9/21/2014)... on the physical activity benefits of active play, a ... for children, playing has no goal it is ... done alone or with friends, and it represents "an ... combat boredom, sadness, fear, or loneliness." "By focusing on ... several aspects of play that are beneficial to young ...
(Date:9/21/2014)... 2014 Burnaby Physiotherapists at Absolute PhysioCare ... in order to help them with preventative care. This ... clinic that will help clients understand their problem in ... active participation in the healing process. With higher knowledge ... be able to facilitate the therapy that is initiated ...
Breaking Medicine News(10 mins):Health News:Judge Issues CMO For Testosterone Lawsuits Alleging Heart Attacks and Strokes Caused By "Low T" Drugs Such As Androgel 2Health News:Judge Issues CMO For Testosterone Lawsuits Alleging Heart Attacks and Strokes Caused By "Low T" Drugs Such As Androgel 3Health News:Judge Issues CMO For Testosterone Lawsuits Alleging Heart Attacks and Strokes Caused By "Low T" Drugs Such As Androgel 4Health News:Judge Issues CMO For Testosterone Lawsuits Alleging Heart Attacks and Strokes Caused By "Low T" Drugs Such As Androgel 5Health News:Gorgeous Skin: 3 Top Benefits of Dry Face Brushing from Sublime Beauty® 2Health News:UTHealth researchers study impact of smoking ban in homeless shelter 2Health News:Narrow focus on physical activity could be ruining kids' playtime 2Health News:Burnaby Physiotherapists Now Provide Educational Information for Preventative Care 2
... 2009 As soccer continues to grow in popularity, injuries ... Certain injuries fall into gender-based patterns and new ... causes that could help lead to better treatment, or ... Data presented at this year,s American Orthopaedic Society for ...
... MAP Pharmaceuticals, Inc. (Nasdaq: MAPP ) today announced ... license agreement with AstraZeneca related to the company,s Unit Dose ... July 8, 2009, effective immediately. All rights licensed to ... MAP Pharmaceuticals plans to suspend development of UDB, which did ...
... New Zealand, July 9 ZyGEM Corp. Ltd., a ... other life sciences applications, today announced the availability of ... GEM(R) Bacteria DNA extraction kit is capable of producing ... bacterial species, including mixed or unknown sample types. ...
... Tested on animals, liquid would be administered externally , ... developed a pain-free vaccination that might thwart ear infections ... ear infections, and surgery is often recommended for children ... microorganisms and the invasive nature of the surgical procedure ...
... July 9 Universal Health Services, Inc. (NYSE: ... to pay a cash dividend of $0.08 per share on ... 1, 2009. , , Universal Health Services, Inc. is ... subsidiaries, acute care and behavioral health hospitals, and ambulatory centers ...
... , TAMPA, Fla., July 9 With healthcare ... chairman and chief executive officer of Health Integrated, a leading ... for companies that can clearly offer solutions to drive down ... , , (Logo: http://www.newscom.com/cgi-bin/prnh/20090709/FL43703LOGO ...
Cached Medicine News:Health News:Motion analysis helps soccer players get their kicks 2Health News:Motion analysis helps soccer players get their kicks 3Health News:MAP Pharmaceuticals Announces Termination of Pediatric Asthma Collaboration 2Health News:MAP Pharmaceuticals Announces Termination of Pediatric Asthma Collaboration 3Health News:ZyGEM Releases Data Confirming Its prepGEM(R) Bacteria Kit Is a Simple, Universal Method for Extracting DNA from Different Bacteria Species 2Health News:ZyGEM Releases Data Confirming Its prepGEM(R) Bacteria Kit Is a Simple, Universal Method for Extracting DNA from Different Bacteria Species 3Health News:ZyGEM Releases Data Confirming Its prepGEM(R) Bacteria Kit Is a Simple, Universal Method for Extracting DNA from Different Bacteria Species 4Health News:Vaccine May Someday Thwart Ear Infections 2Health News:Health Plans Continue to Select Health Integrated to Improve Member Health, Reduce Costs 2Health News:Health Plans Continue to Select Health Integrated to Improve Member Health, Reduce Costs 3Health News:Health Plans Continue to Select Health Integrated to Improve Member Health, Reduce Costs 4Health News:Health Plans Continue to Select Health Integrated to Improve Member Health, Reduce Costs 5
... closes various plastic primary and secondary tubes in ... heights and diameters can be sealed in one ... send-outs. The integration into other PVT Systems (e.g. ... and High Throughput Sorter RSD ProVolume ) ...
... MGB Alert Detection Reagents provide molecular ... PCR based assays. By using our MGB ... analysis, Nanogen is now able to provide ... nucleic acid sequences of specific organisms or ...
... for the detection of two genetic ... mutation on the Factor V (Leiden) ... the Prothrombin gene. Laboratories may use ... *Analyte Specific Reagents. Analytical ...
... the latest and most advanced fecal occult ... line. An immunochemical FOBT (iFOBT) with high ... proven to detect bleeding associated with more ... Because of its superior specificity for lower ...
Medicine Products: