BEIJING, Jan. 8, 2013 (GLOBE NEWSWIRE) -- Dehaier Medical Systems Ltd. (Nasdaq:DHRM) ("Dehaier" or the "Company"), an emerging leader in the development, assembly, marketing and sale of medical devices and homecare medical products, today announced that it has successfully bid on a medical equipment procurement agreement valued at approximately RMB 4 million, worthy of $650,000. The procurement agreement is with Beijing Kanglian Medicine Company and is part of the China Development Bank's ("CDB") Rural Medical and Healthcare Infrastructure Project in Guizhou province.
Mr. Ping Chen, Chairman and Chief Executive Officer of Dehaier Medical said, "Dehaier will provide Phillips Color Doppler Ultrasound machines to county hospitals and clinics in Guizhou, a province in southwest China with approximately 35 million residents. Bulk procurement contracts like this one reflect well on our decision to devote our team's time and resources to grow our government-level projects. We are pleased to see our efforts in the first half of the year result in an increasingly mature business for the Company. Moving forward, we will dedicate even more energy to developing these governmental infrastructure initiatives."
About Dehaier Medical Systems Ltd.
Dehaier is an emerging leader in the development, assembly, marketing and sale of medical products, including respiratory and oxygen homecare medical products. The company develops and assembles its own branded medical devices and homecare medical products from third-party components. The company also distributes products designed and manufactured by other companies, including medical devices from IMD (Italy), Welch Allyn (USA), HEYER (Germany), Timesco (UK), eVent Medical (US) and JMS (Japan). Dehaier's technology is based on six patents, ten software copyrights and proprietary technology. More information may be found at http://www.dehaier.com.cn
Forward-looking Statements
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, government approvals or performance, and underlying assumptions and other statements that are other than statements of historical facts, including in particular any implications regarding internal management change. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, future developments in payment for and demand for medical equipment and services, implementation of and performance under the joint venture agreement by all parties, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.