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:1/15/2014)... Most osteoporosis patients want a choice in the ... sponsored by Mission Pharmacal Company. The survey, conducted by ... support community, revealed that 74 percent of osteoporosis patients ... form other than a pill or a tablet. ...
(Date:1/15/2014)... AARP Foundation today announced it has established a ... severe cold weather that has gripped much of the nation. ... need; so to support these emergency relief efforts AARP and ... could mean up to $500,000 in aid. The matching program ...
(Date:1/15/2014)... OAKS, Calif. , Jan. 15, 2014 ... Amgen (NASDAQ: AMGN ) announced today ... jointly discover and validate new therapeutic targets and ... a chronic disorder that affects millions worldwide. The ...
Breaking Medicine Technology:Mission Pharmacal Conducts Online Survey of Osteoporosis Patients 2Mission Pharmacal Conducts Online Survey of Osteoporosis Patients 3AARP Foundation Establishes Winter Relief Fund for Older Adults Suffering from the Severe Cold Weather 2AARP Foundation Establishes Winter Relief Fund for Older Adults Suffering from the Severe Cold Weather 3Mass. General, Broad Institute and Amgen Will Work to Discover New Drugs for Inflammatory Bowel Disease 2Mass. General, Broad Institute and Amgen Will Work to Discover New Drugs for Inflammatory Bowel Disease 3Mass. General, Broad Institute and Amgen Will Work to Discover New Drugs for Inflammatory Bowel Disease 4
... Mass., Sept. 21 Echo Therapeutics, Inc. (OTC Bulletin ... needle-free Symphony™ tCGM System as a non-invasive, wireless, transdermal ... for transdermal drug delivery, today announced that it is ... transdermal biosensor for continuous lactate monitoring to be used ...
... Bionovo, Inc. (Nasdaq: BNVI, BNVID), a drug discovery and development ... oncology, today announced that Dr. Isaac Cohen, O.M.D., Chairman and ... Healthcare Conference at 4:00 p.m. ET on Tuesday, September 28, ... Palace hotel in New York City. Interested parties ...
Cached Medicine Technology:Echo Therapeutics Initiates Needle-Free Biosensor Program for Continuous Lactate Monitoring 2Echo Therapeutics Initiates Needle-Free Biosensor Program for Continuous Lactate Monitoring 3Bionovo to Present at the JMP Securities Healthcare Conference 2
(Date:4/17/2014)... who show signs of chronic inflammation in non-cancerous prostate ... having prostate cancer than those with no inflammation, according ... from the Johns Hopkins Kimmel Cancer Center. , The ... for men with so-called high-grade prostate cancer those ... indicating the presence of the most aggressive and rapidly ...
(Date:4/17/2014)... One of the most popular vaccine brands for ... doctors may be overlooking some cost factors when choosing ... more expensive option, according to a new study by ... to administer can be driven by numerous factors," says ... a professor of computer science and of mathematics at ...
(Date:4/17/2014)... San Diego School of Medicine report that older women, ... major loss are more likely to be compassionate toward ... published in this month,s issue of the International ... are associated with better health and well-being as we ... improve the outcomes of individuals whose deficits in compassion ...
(Date:4/17/2014)... Bonheur Children,s Hospital Pediatrician-in-Chief Jon McCullers, MD, was ... April issue of Nature Reviews Microbiology , ... Dr. McCullers, a world-renowned infectious disease specialist, and ... University of Tennessee Health Science Center, analyzed the ... 1957 and 1968 pandemics, as well as more ...
(Date:4/17/2014)... Il. (April 17, 2014) Doctors who treat ... called lymphangioleiomyomatosis (LAM) can face an agonizing treatment ... of the disease and help relieve shortness of ... transplants, and sirolimus can cause potentially fatal complications ... pulmonologist Dr. Daniel Dilling, medical director of Loyola ...
Breaking Medicine News(10 mins):Health News:Chronic inflammation linked to 'high-grade' prostate cancer 2Health News:Chronic inflammation linked to 'high-grade' prostate cancer 3Health News:Study recalculates costs of combination vaccines 2Health News:The ilk of human kindness 2Health News:Patients with rare lung disease face agonizing treatment dilemma 2Health News:Patients with rare lung disease face agonizing treatment dilemma 3
... available in German . , Oregano doesnt ... University and the ETH Zrich have discovered that this spice ... help cure inflammations. The researchers administered its active ingredient ... In seven out of ten cases there was a subsequent ...
... Iowa -- Underage drinking is a national concern that ... to Action to Prevent and Reduce Underage Drinking" ( ... an Iowa State University researcher assesses the effectiveness of ... of how to achieve key goals outlined by the ...
... HighPoint Solutions LLC,a premier provider of business-driven IT ... an Incentive Compensation Plan for a new Benign,Prostatic ... the project,s completion targeted for late summer 2008, ... the field sales force and ensure the,alignment of ...
... Health Savings Accounts metrics predicts HSAs will double on ... one of the conclusions drawn in the fourth annual ... (ISI). Other findings indicate HSAs are strong in ... first year's employee HSA custodial accounts rose to 17% ...
... mined his unconscious for patent development ideas, taking his ... fell, he woke with new insights, leading to 1093 ... forty years experience with the unconscious and dreams, author ... them with techniques to access it. During her four ...
... cells. They help to digest our food, are at the ... from top to toe. Proteins also play an important role ... in the creation of anything from pharmaceuticals to bread, washing ... , To take advantage of their great potential, a ...
Cached Medicine News:Health News:Salutary pizza spice 2Health News:Pediatrics review of underage drinking prevention programs led by Iowa State researcher 2Health News:Pediatrics review of underage drinking prevention programs led by Iowa State researcher 3Health News:HighPoint Solutions Develops Novel Incentive Compensation Plan for New Benign Prostatic Hyperplasia (BPH) Product 2Health News:Health Savings Accounts (HSAs) To Double On A Year-To-Year Basis By January 2009 2Health News:Researchers Revisit Edison's Method of Generating Olympic Level Ideas via Unique New Corporate Seminar 2Health News:Researchers Revisit Edison's Method of Generating Olympic Level Ideas via Unique New Corporate Seminar 3Health News:1 step closer to green chemistry and improved pharmaceuticals 2
All the advantages of Dr. Roy P. Finney's classic stent design with an open tip....
... Chlamydia Culture Confirmation provides ... of intracellular inclusions (elementary ... in tissue culture. ... in this kit is ...
... direct fluorescent assays (DFA) kit ... to provide clear, easy-to-read and ... Chlamydia antigens are detected ... the C. trachomatis major outer ...
... rubella IgG antibody in women prior to ... possible rubella viral infection during pregnancy. ... reduced the incidence of rubella epidemics, but ... of immune status, especially for women of ...
Medicine Products: