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U.S.- CHINA INDUSTRIAL EXCHANGE, INC. (CHINDEX)
ANNOUNCES EXCLUSIVE AGREEMENT WITH MEDEX, INC.

 

BETHESDA, MARYLAND -November 25, 1997 - U.S. -CHINA INDUSTRIAL EXCHANGE, INC. (NASDAQ:CHDX), the largest independent American distributor of Western healthcare products in the People’s Republic of China, today announced an agreement with Medex, Inc. for the exclusive distribution of Medex product lines in China and Hong Kong. Under the terms of the agreement, Chindex has assumed responsibility for marketing, sales, importation and physical distribution of Medex products in China and Hong Kong. According to Chindex Chairperson, President and CEO Roberta Lipson, the contract has a potential to increase Chindex sales by more than $1 million per year. Medex, a Furon company (NYSE:FCY), is a major worldwide producer of medical equipment and supplies used primarily in critical care environments.

Lipson commented, "This agreement with Medex is significant for Chindex. This is an important new line of critical care disposables in our consummable products portfolio and demonstrates considerable confidence by a leading multinational company in our ability to operate in China and Hong Kong. We have invested heavily in China healthcare distribution capabilities and will capitalize on that investment with our relationship with Medex, as well as with other similar product offerings."

Medex International Sales Manager Phillip Marsh said, "Chindex provides Medex with an excellent turn-key distribution capability in China and Hong Kong. Chindex’s market penetration and management expertise are exceptional and it is the logical distribution partner for us in China."

Chindex Vice President of Products Distribution James Spear said, "Since our national marketing campaign for the Medex product line began, we have seen our customer base expand rapidly. The responses that we are getting from the local dealer networks that we utilize for retail distribution have been very favorable," he continued, "as they forecast tremendous earning potential from this product line."

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U.S.-China Industrial Exchange, Inc. (Chindex) provides market representation, sales and consulting services in China to a number of multinational and Fortune 500 companies including Volvo Construction Equipment, Ingersoll-Rand, Acuson, Johnson & Johnson and Kendall. With over sixteen years experience, 135 employees, and operations in the United States, 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 growing professional communities. Chindex is listed on NASDAQ under the ticker symbol CHDX.

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