BEIJING, April 23, 2012 /PRNewswire-Asia-FirstCall/ -- Dehaier Medical Systems Ltd. (NASDAQ: DHRM)("Dehaier" or the "Company"), an emerging leader in the development, assembly, marketing and sale of medical devices and homecare medical products in China, today announced that it has signed a strategic cooperation agreement with Timesco of London Ltd., one of the most progressive surgical and medical companies in the U.K.
Under the terms of this three-year agreement Dehaier will be the exclusive distributor in mainland China for Timesco's entire laryngoscope Optima series of products, which include the CXL and Eclispse series. The presidents of both companies signed the agreement at the 67th China International Medical Equipment Fair in Shenzhen.
A laryngoscope is a viewing instrument that is used for tracheal intubations. The laryngoscope Optima series products offer a broad visual field and better vision for physicians due to its patented light source, while also addressing a variety of clinical demands through a diverse set of models and specifications. The agreement represents a benchmark for Dehaier as a leading distributor in China's laryngoscope market, while also providing a new product channel for the Company to offer its customers across China and ultimately strengthen its market share and increase revenue.
Dehaier's President and CEO, Mr. Ping Chen, commented, "Dehaier has maintained a long-term and reliable partnership with Timesco since 2003; we are currently taking as leading distributor in the laryngoscope market in China. We are glad that Timesco has expressed their appreciation of our product sales and market influence. Dehaier secured our competitive position through a strong and geographically diverse distribution network. We anticipate a comprehensive cooperation with Timesco, and believe this will help enhance our corporate reputation and ultimately agreements such as this will return value for our shareholders."
About Timesco of London Ltd.
Founded in 1964, Timesco of London is a medical supplies company that designs, manufactures, and sells surgical and non-surgical medical and dental instruments. Its specialties include products for laryngoscope, surgery, podiatry, and primary care as well as emergency health care, midwifery, and more. The Company has been recognized as one of the most progressive surgical and medical companies in the U.K. Their goal is to serve the healthcare needs of all consumers in all cultures throughout the world. To develop new, innovative medical technologies that will save or improve the quality of life, whilst meeting the highest standards of quality and product safety at all times.
About Dehaier Medical Systems Ltd.
Dehaier is an emerging leader in the development, assembly, marketing and sale of medical products, including respiratory and oxygen homecare medical products. The company develops and assembles its own branded medical devices and homecare medical products from third-party components. The company also distributes products designed and manufactured by other companies, including medical devices from IMD (Italy), Welch Allyn (USA), HEYER (Germany), Timesco (UK), eVent Medical (US) and JMS (Japan). Dehaier's technology is based on six patents and five software copyrights; additionally Dehaier has two pending software copyrights and proprietary technology. More information may be found at http://wwwdehaier.com.cn.
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, government approvals or performance, and underlying assumptions and other statements that are other than statements of historical facts, including in particular statements about Dehaier's membership in the Zhongguancun Association and the meaning of and retention of any ratings granted to Dehaier (including any factors affecting such ratings). These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, future developments in payment for and demand for medical equipment and services, implementation of and performance under the joint venture agreement by all parties, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.