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BETHESDA, MARYLAND - January 11, 2002 - Chindex International, Inc. (NASDAQ:CHDX) (U.S.-China Industrial Exchange, Inc.), the leading independent American company providing Western healthcare products distribution and medical services in the People's Republic of China, today announced that it has been selected as a finalist in the global competition for the annual award for Corporate Excellence from the U.S. State Department.
Chindex was one of only two American companies doing business in China recommended for the award by the U.S. Embassy in Beijing. The award is based on overall excellence in areas such as good corporate citizenship, exemplary employment practices, and contribution to the growth and expansion of the local economy. The Chindex application, submitted by the U.S. Embassy in Beijing, highlighted the 20-year history of Chindex operations in China and the many firsts the Company has achieved in the healthcare industry there.
In reaching a decision about which two U.S. companies in China to nominate, the U.S. Embassy in Beijing was impressed with the "remarkable success" that Chindex has achieved in China "by matching its unique understanding of China's economic and cultural environment with the highest business and ethical standards expected of American companies." The nomination, submitted to the U.S. State Department, specifically cited Chindex's contribution to the sustainable reform of the healthcare sector in China both through its sales of healthcare products and its provision of top quality healthcare services, and its use of U.S. Export-Import Bank financing programs to greatly benefit the capital-starved medical industry in China. The nomination also noted Chindex's contributions to local science and technology policies, through the Company's consultation with the Ministry of Health and State Drug Administration prior to the drafting of new Chinese regulations, and through the Company's promotion of exchanges between the U.S. Food and Drug Administration and its Chinese counterparts, as well as its sponsorship of Chinese Post Doctoral Fellows in the U.S., numerous clinical training programs in the U.S., and investigation missions to the U.S. by Chinese public health and education policy makers.
Chindex was also noted for the Company's corporate citizenship, including the Company's involvement in founding the U.S. Healthcare and Education Fund for China, the Company's encouragement of its management and executives to participate in community and government service leadership positions. The Company was also specifically recognized for its equal opportunity employment policies, which are demonstrated through women's positions in top executive management of the company, the promotion of local hires to managerial positions, and its employment of the disabled. The U.S. Embassy in Beijing also noted Chindex's excellent record of complying with all relevant laws, including many of the Company's ethical business practices, which are "uncommon among businesses in China."
The Award for Corporate Excellence is awarded each year by the U.S. Department of State to recognize American firms for exemplary business practices, innovation and good corporate citizenship in their overseas operations. According to the State Department, "this award formally acknowledges the important role played by U.S. businesses in reinforcing our commitment to human rights, raising living standards, education, worker rights, environmental protection and ethical business practices."
"We are very proud to be selected as a finalist in this prestigious competition with other leading companies around the world. It is an honor to represent American business here in China. We have received important support from the U.S. government over the years which has greatly aided our successful business operations in the Chinese healthcare industry. Working closely with the Departments of State and Commerce, we have been able to bring American medical technologies and healthcare services to the Chinese market. We have played an important role in advancing the level of healthcare available to the Chinese people today, while at the same time creating jobs for thousands of American workers," commented Roberta Lipson, Chindex President and CEO in Beijing.
About Chindex: Chindex is a leading American company in healthcare in the Greater Chinese marketplace including Hong Kong. It provides representative and distribution services to a number of major multinational companies including Acuson, a Siemens company, (Acuson brand diagnostic ultrasound scanners), Becton-Dickinson (including vascular access, infusion and critical care systems), Johnson & Johnson (clinical chemistry analyzers), Guidant (interventional cardiology products including stents, balloon catheters, and guide wires), Siemens Medical Systems (Sonoline brand of color doppler ultrasound scanners) and Tyco Healthcare Products. It also provides healthcare services through the operations of its private hospital corporation in China. With twenty years of experience, approximately 370 employees, and operations in the United States, mainland China and Hong Kong, the Chindex strategy is to expand its cross-cultural reach by providing leading edge technologies, quality products and services to Greater China's professional communities. Further company information may be found at the Chindex websites, www.chindex.com and www.beijingunited.com.
The statements in this press release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties, including risks associated with uncertainties pertaining to the Company's (i) performance goals, including successful conclusion of efforts to secure government-backed financing, (ii) future events and earnings, including revenues from the Company's developmental businesses such as healthcare services, (iii) markets, including growth in demand in China for the Company's products and services, and (iv) proposed new operations, including expansion of its healthcare services business. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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