TAIPEI, Feb. 18, 2011 /PRNewswire-Asia-FirstCall/ -- Golden Meditech Holdings ("Golden Meditech," 0801.HK, 910801.TW) and Long Bon International Co., Limited ("Long Bon International") today announced that the companies have entered into a memorandum of understanding (MOU) for strategic cooperation in Taipei. Golden Meditech Holdings Chairman, Mr. Kam Yuen and Chairman of Long Bon International, Mr. Chu Powei, respectively represented and co-chaired the signing ceremony. Per the MOU, the parties will establish a joint-venture company within the next six months to capture business opportunities within the healthcare sector arising from the introduction of ECFA. This will be the first collaborative effort between two sizable corporations to penetrate the healthcare sector and healthcare services across the Straits with the advantage of creating considerable synergies that would complement the strengths of both parties.
In reference to the MOU, both Golden Meditech and Long Bon International will leverage on each others' resources and competitive advantages on the basis of their existing operations to synergistically facilitate market penetration and enhance their respective healthcare businesses, specifically via establishing a joint-venture operation in Taiwan. The joint effort will be instrumental to stipulate both parties' growth in both mainland China and Taiwan markets.
Mr. Kam Yuen, Chairman of Golden Meditech commented, "The next decade will be a golden opportunity for the development of the healthcare industry in mainland China, as the medical reforms progresses forward, on the back of the launch of ECFA, there will likely be a speeding up in consolidation within the industry. In addition to our focus in mainland China, Golden Meditech is also actively pursuing business opportunities within the Taiwan markets, capitalizing on the competitive advantages of Long Bon International, to catapult growth in our core bus