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:11/21/2014)... Nov. 20, 2014  The acceptance of two ... AAGL Global Congress demonstrates continued interest in the ... provide bowel control. One of the abstracts, presented by ... Division Chief of Urogynecology and Reconstructive Pelvic Surgery ... Award for Best Written Abstract on Urogynecology/Pelvic Floor ...
(Date:11/21/2014)... Calif. , Nov. 20, 2014 Depomed, Inc. (NASDAQ: ... at the Piper Jaffray 26 th Annual Healthcare Conference in ... at the Piper Jaffray conference is scheduled for 8:00 am EST ... be webcast, and the webcast can be accessed via the Investor ... recording of the webcast will be archived for 30 days on ...
(Date:11/21/2014)... 20, 2014 Oxis International, Inc. (OXIS) (OXI.PA) announced ... of Anthony J. Cataldo as Chief Executive Officer, ... November 19, 2014, Ken Eaton resigned his positions ... Directors of Oxis International, Inc. to pursue new opportunities. ... Chief Executive Officer of Oxis International, Inc. Mr. Cataldo will ...
Breaking Medicine Technology:LIFE Study Prominently Featured at Minimally Invasive Gynecology Conference 2LIFE Study Prominently Featured at Minimally Invasive Gynecology Conference 3Depomed To Present At Piper Jaffray 26th Annual Healthcare Conference 2OXIS International, Inc. announces Changes in Management Team 2OXIS International, Inc. announces Changes in Management Team 3
... 14, 2007 - BioDelivery,Sciences International, Inc. (Nasdaq: ... Fentanyl in cancer,patients with breakthrough pain in ... product., Results were based on the company's ... the study. A key secondary,endpoint was the ...
... market dynamics offers insights into,what will be needed ... to,patients, NEW YORK, May 14, 2007 /PRNewswire-USNewsire/ -- ... a not-for-profit,product development partnership accelerating the discovery and,development ... the first,comprehensive study of the dynamics of the ...
Cached Medicine Technology:BDSI Announces Positive Key Secondary Efficacy Endpoint Results for,Bema Fentanyl 2BDSI Announces Positive Key Secondary Efficacy Endpoint Results for,Bema Fentanyl 3BDSI Announces Positive Key Secondary Efficacy Endpoint Results for,Bema Fentanyl 4New Study Reveals Limitations of a Complex and Challenging Global,Tuberculosis Drug Marketplace 2New Study Reveals Limitations of a Complex and Challenging Global,Tuberculosis Drug Marketplace 3New Study Reveals Limitations of a Complex and Challenging Global,Tuberculosis Drug Marketplace 4
(Date:11/21/2014)... Grants Pass, OR (PRWEB) November 21, 2014 ... and become thirsty. In winter, people rarely perspire and ... felt in winter to drink the eight glasses of ... Don’t be fooled, warns fresh water advocate Sharon Kleyne. ... and maintaining daily hydration is just as important.     ...
(Date:11/21/2014)... For many busy people, having their missing or ... of recovery from dental surgery that have traditionally been required ... of their youthful appearance. , But the dental implant ... and Woodland Hills, Calif., can provide someone with a full ... where the patient’s bone has deteriorated. , Dr. Saj Jivraj ...
(Date:11/21/2014)... (PRWEB) November 21, 2014 CDT ... the dental practice. It includes everything needed to process ... Procedure Coding with CDT , CDT 2015 codes are ... January 1, 2014 - December 31, 2014. Dental professionals ... and services on dental claims. There are significant changes ...
(Date:11/21/2014)... November 21, 2014 Even with years of ... to learn and room for growth, participating in two recent ... State Farm’s National Convention, a networking event with the leaders ... country, bringing back the latest and greatest in insurance news ... spotted Kirk and his team (Stacy, Anthony, Reina and Jacob) ...
(Date:11/21/2014)... November 21, 2014 CARE Surrogacy Center ... intended parents — and at the same time enhancing their ... of optimism for future parents across the globe, the company ... Prospective parents today are zoning in on the skyrocketing costs ... encumbering costs, are individuals over-stressing clinical success rates ? ...
Breaking Medicine News(10 mins):Health News:Our Bodies Need Eight Glasses of Water a Day Even in Winter Reports Fresh Water Advocate 2Health News:Our Bodies Need Eight Glasses of Water a Day Even in Winter Reports Fresh Water Advocate 3Health News:Anacapa Dental Art Institute Prosthodontists Develop New Technique to Offer Younger Appearance in Just One Visit 2Health News:Anacapa Dental Art Institute Prosthodontists Develop New Technique to Offer Younger Appearance in Just One Visit 3Health News:Anacapa Dental Art Institute Prosthodontists Develop New Technique to Offer Younger Appearance in Just One Visit 4Health News:Anacapa Dental Art Institute Prosthodontists Develop New Technique to Offer Younger Appearance in Just One Visit 5Health News:PMIC Announces CDT PLUS! 2015, the Ultimate Coding Reference for Dentists and Oral Surgeons 2Health News:Kirk Martin Insurance Agency Goes Local and National with State Farm 2Health News:CARE Surrogacy Center Reports on its Multiple Measures of Success 2Health News:CARE Surrogacy Center Reports on its Multiple Measures of Success 3
... energy sources to the eye may help delay retinal ... The transporters, SMCT1 and SMCT2, can circumvent the eyes ... bodies to a healthy eye, says Dr. Pamela Martin, ... diabetes, characterized by plenty of glucose but the inability ...
... Study supports effectiveness of the ultrasound-guided technique , ... minimally invasive procedure is a quick, inexpensive way ... report. , The researchers used ultrasound-guided percutaneous (through ... more than 2,000 people (average age 42) with ...
... Using a novel imaging technique to study autistic ... brain areas that govern social processing and learning by ... J. Lindner Center for Autism, North Shore-Long Island Jewish ... the annual meeting of the Radiological Society of North ...
... 28, 2007 (Oakland, CA) The National Heart ... over the next five years to establish a ... will leverage the collective cardiovascular expertise, diverse community-based ... Kaiser Permanente and eight other health plans in ...
... Card System to Revolutionize Adult Sexual Behaviors, ... Inc.,(SSPB) announced today it will launch the world,s ... Safe Sex Passport (SSP) on December,1st, in conjunction ... the,spread of Sexually Transmitted Diseases (STDs) by providing ...
... pleased to,announce that Gail Oliver has been named Vice ... this position, Ms. Oliver will lead,and manage the Loss ... development opportunities for this aspect of the,company,s portfolio., ... years. Most recently, she,has been serving as the Regional ...
Cached Medicine News:Health News:Transporters may help delay diabetes-related retinal damage 2Health News:Transporters may help delay diabetes-related retinal damage 3Health News:Saline Wash May Ease Shoulder Tendonitis 2Health News:Novel imaging technique shows gray matter increase in brains of autistic children 2Health News:National Heart Lung and Blood Institute creates national network to study cardiovascular disease 2Health News:Safe Sex Passport Launches to Provide Breakthrough Protection Against STDs and HIV 2
... ARUP Laboratories is a national reference laboratory ... research and development. ARUP offers an extensive ... medical tests in clinical and anatomic pathology. ... Laboratories' clients include more than half of ...
... is a national reference laboratory and a ... development. ARUP offers an extensive test menu ... in clinical and anatomic pathology. Owned by ... include more than half of the nation's ...
... Laboratories is a national reference laboratory and ... and development. ARUP offers an extensive test ... tests in clinical and anatomic pathology. Owned ... clients include more than half of the ...
... national reference laboratory and a worldwide leader ... offers an extensive test menu of highly ... and anatomic pathology. Owned by the University ... than half of the nation's university teaching ...
Medicine Products: