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

cal Chinese fraud, it relies on debt or equity financing as its primary source of cash generation. (Source: Glaucus Research Group)

The Company spent substantial cash to transform from a higher risk therapeutic medical equipment business (HIFU) to an IVD business offering traditional immunoassay diagnostic products (ECLIA) and advanced molecular diagnostic business (FISH and SPR) to a much broader customer base and generating recurring revenues.  The molecular diagnostic business continued to generate high double-digit growth since the acquisition of FISH in 2007.

Allegation 4

CMED’s balance sheet presents numerous highly suspicious red flags. CMED’s receivables account for a much higher percentage of net revenues than its Chinese competitors and its Day Sales Outstanding are on average 141.9 days longer than a leading Chinese competitor, despite the fact that both companies sell similar products to similarly situated customers. (Source: Glaucus Research Group)

Glaucus claimed to read our press releases and quoted information in the Report.  However, Glaucus intentional or unintentional overlooked our explanations of our long DSO contained in our several earnings press releases and our annual reports.  The Company conducted its molecular diagnostic business through its direct sales team rather than distributors.  The payment time for hospitals is much longer than distributors.  One of the reasons to use distributors is to get working capital provided by the distributors while distributors take the place to collect long time payment from hospitals for diagnostic consumable products.  One of the disadvantages to use distributors is to share profit margin with distributors.  This explained partially the “Uncreditable Margins” alleged by Glaucus.

Allegation 5

In 2009, an anonymous letter to the audit committee accused senior ma
'/>"/>

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:1/23/2015)...  Now available for sale, The Armor1 Ankle Roll Guard is ... sprains by cushioning the ankle from an inversion or ... outside of any shoe type and allows the user ... protection against sprains. With customers in physical therapy, podiatry, ...
(Date:1/23/2015)... , Jan. 23, 2015  CytoSorbents Corporation (NASDAQ ... its CytoSorb® extracorporeal cytokine adsorber to reduce deadly ... the receipt of $385,642, net of transaction costs, ... the Technology Business Tax Certificate Transfer Program sponsored ...
(Date:1/22/2015)... , Jan. 22, 2015  ViewRay™, a privately held ... into an exclusive distributor agreement with ITOCHU Corporation (Tokyo ... therapy system for the treatment of cancer in ... system, is the world,s first and only MRI-guided radiation ...
Breaking Medicine Technology:The Armor1 Ankle Roll Guard is the New Breakthrough Solution for Ankle Sprain Prevention! 2CytoSorbents Receives $385,000 in Non-Dilutive Funding from the New Jersey Technology Business Tax Certificate Transfer Program 2CytoSorbents Receives $385,000 in Non-Dilutive Funding from the New Jersey Technology Business Tax Certificate Transfer Program 3ITOCHU Named the Exclusive Distributor for ViewRay's MRI-Guided Radiation Therapy System in Japan 2
(Date:1/22/2015)... The City of West Hollywood hosted a news conference on ... anniversary of the Supreme Court decision Roe v. Wade, which legalized ... the Roe vs. Wade decision and the fight to protect a ... City of West Hollywood Councilmember Abbe Land. “We need to continue ...
(Date:1/22/2015)... TN (PRWEB) January 22, 2015 Gabe’s Chemo Duck ... Duck App, the first app ever created for kids with cancer. ... Apple phones and devices, is filled with enjoyable games to help ... and treatments. The free app helps to keep kids entertained, educated ...
(Date:1/22/2015)... January 23, 2015 VogueQueen is a seasoned ... prices and many designers are thrilled to have it lead ... announces its new collection of prom dresses for the global ... drive the strategic vision and he focuses on continuing the ...
(Date:1/22/2015)... Angelweddingdress is a famous wedding dress company offering many ... it on Facebook, Twitter, and Pinterest. The fans will have ... a lottery every week. , Moreover, the company has extended ... Angelweddingdress homepage for more information. , Angelweddingdress ...
(Date:1/22/2015)... 2015 AngelWeddingDress, the premier women’s dress ... wedding dresses. View website of AngelWeddingDress.com to ... maternity wedding dresses online for a bridal party. AngelWeddingDress ... quality for them. Its maternity wedding dresses are specially ...
Breaking Medicine News(10 mins):Health News:Chemo Duck Launches First App Ever Created for Kids with Cancer 2Health News:Chemo Duck Launches First App Ever Created for Kids with Cancer 3Health News:VogueQueen Unveils New Designs of Prom Dresses for 2015 2Health News:Angelweddingdress Invites Its Customers To Follow It On Facebook, Twitter, And Pinterest 2Health News:AngelWeddingDress Has Recently Released Its Collection Of 2015 Maternity Wedding Dresses 2
... , IRVINE, Calif., July 17 ... has reached a settlement with Respironics, Inc. of pending litigation under which ... the litigation between them in California Superior Court. As part of ... phase-out of the MARS oximetry technology. , , ...
... , , GLASGOW, Scotland, July 17 ... like to be the national emblem of England, beating Wimbledon favourite Strawberries ... survey commissioned by AXA PPP healthcare,s Nutrition and Fitness website: www.axappphealthcare.co.uk/healthyliving. , ... ban on the sale of ,misshapen, produce such as straight bananas on ...
... ... QHR client hospitals Littleton Regional Hospital (Littleton, N.H.), ... Vt.) and Trigg County Hospital (Cadiz, Kent.) were recently named ... healthcare quality improvement services. Avatar celebrated these hospitals for their ...
... , INDIANAPOLIS, July 17 HCC Medical ... 2009, MultiNational Underwriters, LLC (MNU) has adopted the HCC name to ... behalf of HCC Life Insurance Company and Lloyd,s Syndicate 4141. ... MultiNational Underwriters in 1998, MNU has been a recognized leader in ...
... say , THURSDAY, July 16 (HealthDay News) -- Circumcision ... women, says a study that included 922 HIV-infected men ... the start of the study, were randomly selected to ... study also included HIV-uninfected female partners of the men. ...
... , , NEWPORT BEACH, ... ) announced today that the Company will release its 2009 second quarter ... the New York Stock Exchange. The Company will host a webcast ... time (11:30 a.m. Eastern time) to discuss these results. , ...
Cached Medicine News:Health News:Masimo Announces Settlement of Lawsuit 2Health News:Masimo Announces Settlement of Lawsuit 3Health News:Potato Tops Poll To Be UK's National Veg 2Health News:QHR Client Hospitals Lauded for Consistently High Quality Standards, Exceeding Patient Expectations 2Health News:QHR Client Hospitals Lauded for Consistently High Quality Standards, Exceeding Patient Expectations 3Health News:MultiNational Underwriters Is Now HCC Medical Insurance Services 2Health News:Circumcision Doesn't Lessen HIV Transmission 2Health News:NHP Announces Second Quarter Earnings Release Date and Webcast/Conference Call 2
... The R4Mplus offers global companies a ... meet RFID compliance initiatives. With die-cast ... variety of connectivity options, and complex ... a super value. Plus, the fully ...
... Visitor Control System. A bar code-based nursery control ... verify identity of those people authorized to handle ... with all visitors and staff who have access ... It also helps to reduce the chance for ...
... H 2824-Z direct thermal printer ensures reliable ... and privacy. Generating clear bar codes, text, ... types, the H 2824-Z direct thermal printeravailable ... identification wristbands on demand. It can also ...
... global companies a cost-effective and dependable ... initiatives. With die-cast metal construction, centralized ... options, and complex multi-language font support, ... Plus, the fully integrated RFID reader/encoder ...
Medicine Products: