LOS ANGELES, May 29, 2007 (PRIME NEWSWIRE) -- Sunnylife Global, Inc. (Pink Sheets:SNYL) announced today that it will present at the Red Chip Small-Cap Investor Conference on Wednesday, May 30, 2007.
Sunnylife Global, Inc. is the first American company to be granted a business license by the Chinese government to operate hospitals in the Peoples Republic of China. The Xiang Tan World Friendship Hospital, turned over to Sunnylife in May 2006, is the first U.S.-China joint venture hospital in over 100 years approved by the Chinese Government. It symbolizes the milestone in hospital history because Sunnylife is establishing a new pattern for Chinese-owned hospitals.
Highlights since the turnover of the hospital to Sunnylife to be discussed at the Small-Cap Investor Conference include the following:
In September 2006, Sunnylife Global was granted an official Health Food Permit from the Chinese government's Ministry of Health for its ten patented supplements, allowing the Company to mass produce the supplement products for sale in the World Friendship Hospital as part of its Health Management System, and as its first step towards introducing preventative medicine to the Chinese citizens.
In October 2006, a Sunnylife Global delegation attended the ground breaking opening ceremony of the first Sino-U.S. joint venture for the Baotou World Health Center for the elderly hosted by the Baotou Municipal Government and the Inner Mongolia Government of China. The project is designed for 3,000 townhouse units to be made available for sale to the elderly people of Baotou. Construction of the first building of the project is expected to be completed in the last quarter of 2008.
In November 2006, Sunnylife Global received formal approval from the Peoples Republic of China for establishment of the Sino-U.S. Joint Venture with the Shandong Luyin Pharmaceutical Company to produce medicinal products for sale in China, along with a Certificate of Approval for 50 years for the Establishment of Enterprises with Foreign Investment in the Peoples Republic of China.
In December 2006, Richard Lo, president of Sunnylife Global, Inc., held a meeting with key management and opened his statement by commenting on 2006: "After the sweat, the smile of success will follow." In concluding, he said: "We strongly believe that 2007 will be a rewarding year for our investors."
In January 2007, Sunnylife Global's hospital management team and a representative of the Hunan State-Owned Asset Management Commission visited the U.S. to review U.S. policy and governance in preparation for the upgrade of the Xiang Tan World Friendship Hospital.
In April 2007, the Xiang Tan World Friendship Hospital was approved by the Ministry of Labor for the National Basic Healthcare Insurance Program. The basic concept of designated hospitals provides that the government will pay the insurance premium to the Chinese Ministry of Labor and Social Security, who will then screen and determine which hospitals will be designated to provide medical service to the insured in China. The Xiang Tan World Friendship Hospital is now a designated hospital.
Today, May 29, 2007, Sunnylife Global announced it has begun construction of the surgical building at the Xiang Tan World Friendship Hospital. Construction is expected to take five months and will increase the hospital's capacity from 250 beds to 400 beds and is expected to result in revenues to the hospital of between $5 and $7 million. Sunnylife owns 70% of the hospital.
The RedChip conference is attended by pre-qualified investment professionals, including analysts, portfolio managers, financial advisors, as well as high net worth investors. Video and audio from the conference is streamed live to targeted investors and archived for three months on www.redchip.com. In addition, the event press release is distributed by RedChip to hundreds of thousands of investors.
About Sunnylife Global
Sunnylife Global, Inc. has developed a Health Management System (HMS) in conjunction with the Chinese Government Authorities that will result in delivering superior quality health care management to its members. The Company is in multiple joint-venture agreements with the World Friendship Hospital Group to renovate and revitalize China's older hospital facilities in order to meet the current International standard. Sunnylife has developed the HMS to meet that standard and is planning to launch in the very near future. In addition, the Company has patented natural, environmentally safe and economically affordable products which it plans to introduce to Chinese consumers through seven different joint venture licensees in China. Sunnylife represents an organization staffed with professional experts in product research, quality acceptance testing, and market development for service to China and the global markets. For more information, please visit www.sunnylifeglobal.com.