BETHESDA, MD (April 16, 2003) - Chindex International, Inc. (Nasdaq:CHDX), the largest independent American distributor of Western healthcare products and services in the People's Republic of China, today announced it has signed an exclusive agreement with BrainLAB Ltd, the Hong Kong subsidiary of BrainLAB AG of Munich, Germany. The agreement provides for the distribution of BrainLAB products in China. BrainLAB is a world leader in the innovative development of software products for surgical and radiotherapy procedures.
Roberta Lipson, President and CEO of Chindex, commented from Beijing: "We are very pleased to announce this relationship with BrainLAB. Chindex has a long-established reputation in surgical and radiotherapy markets in China. Now we are partnering with the world technology leader in the field of software-driven products for these departments. The Chindex marketing and sales organization reaches into thousands of top Chinese hospitals throughout the country. We have been an established player in the China market for over two decades now. I believe that our distribution capabilities and the premier product offerings of BrainLAB will be a winning combination for us both.
"In our sales of BrainLAB products, we will concentrate on the established and quickly-growing market segments of neurosurgery, ENT and radiosurgery. These are areas in which BrainLAB already has a dominant market presence here in China. We expect that sales of these modalities will be very robust over the next several years. We will also use our government-backed loan financing programs for capital medical equipment to facilitate funding to our Chinese customers for BrainLAB products. Chindex has been a leader in this form of financing to the Chinese healthcare industry since the mid-1990's. We now participate in financing programs offered by both the United States and German governments," Lipson concluded.
Norbert Seiter, Director of BrainLAB Asia-Pacific stated, "We are committed to providing state-of-the-art healthcare worldwide and therefore to expanding sales of our medical products in international markets. Since BrainLAB's beginnings, China has been a key area of strategic focus for us. Since Chindex is an established, well-known and very strong distributor, we feel they are an excellent partner in our effort to maximize BrainLAB's growth in China for existing products and new technologies."
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 Siemens AG (diagnostic color ultrasound scanners under the Acuson and Siemens brand names), Becton-Dickinson (including vascular access, infusion and critical care systems), Johnson & Johnson (clinical chemistry analyzers), and Guidant (interventional cardiology products including stents, balloon catheters, and guide wires). It also provides healthcare services through the operations of its private hospital corporation in China. With twenty-two years of experience, over 600 employees, and operations in the United States, China and Hong Kong, the Company's 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 Company's websites, www.chindex.com and www.unitedfamilyhospitals.com.
BrainLAB develops, manufactures, and markets software-driven medical equipment. Its products allow physicians to provide treatment that improves medical outcomes while being more accurate, less invasive, and less expensive than traditional surgery.
For over 13 years, BrainLAB has been the leading innovator in the fields of image-guided surgery and stereotactic radiosurgery. Today, BrainLAB has offices in 15 countries and employs over 480 people.
BrainLAB's core competency is the integration of user-friendly software into surgical and radiotherapy procedures. By simplifying complex technologies to meet all doctors' needs, BrainLAB is able to offer superior software solutions to its customers. The company's success has been built on innovative technologies along with a commitment to superior technical support, and a 100% focus on customers' needs.
BrainLAB is a privately held company headquartered in Munich, Germany. For more information, visit BrainLAB at www.brainlab.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 without limitation that there can be no assurance as to the opening schedule, budgeting or success of the Company's hospital in Shanghai. 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.