China Medical Technologies Announces its Subsidiaries, GP Medical and Beijing Yuande, Ranked 12th and 415th, respectively, in Deloitte Technology Fast 500 Asia Pacific 2010 Pr...
BEIJING, Dec. 6, 2010 /PRNewswire-Asia-FirstCall/ -- China Medical Technologies, Inc. (the "Company") (Nasdaq: CMED), a leading China-based advanced in-vitro diagnostic ("IVD") company, today announced that its wholly-owned subsidiaries, Beijing GP Medical Technologies Co., Ltd. ("GP Medical") and Beijing Yuande Bio-Medical Engineering Co., Ltd. ("Beijing Yuande"), have been ranked 12th and 415th, respectively, in the Deloitte Technology Fast 500 Asia Pacific 2010 program. GP Medical operates the fast growing molecular diagnostic business of the Company, and Beijing Yuande operates the immunodiagnostic business of the Company.
"We are honored to be named in the Deloitte Technology Fast 500 Asia Pacific for 2010," commented Mr. Xiaodong Wu, Chairman and Chief Executive Officer of the Company. "We believe that there is good market potential in both molecular diagnostics and immunodiagnostics in China, and we will continue to focus on capturing these market opportunities."
About China Medical Technologies, Inc.China Medical Technologies, Inc. is a leading China-based advanced IVD company using molecular diagnostic technologies including Fluorescent in situ Hybridization (FISH) and Surface Plasmon Resonance (SPR) and an immunodiagnostic technology, Enhanced Chemiluminescence Immunoassay (ECLIA), to develop, manufacture and distribute diagnostic products used for the detection of various cancers, diseases and disorders as well as companion diagnostic tests for targeted cancer drugs. The Company generates all of its revenues in China through the sale of diagnostic consumables including FISH probes, SPR-based DNA chips and ECLIA reagent kits to hospitals which are recurring users of the consumables for their patients. The Company sells FISH probes and SPR chips to large hospitals through its direct sales force and ECLIA reagent kits to small and mid-size hosp