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China Medical Sells HIFU Business to Chairman/CEO

publication date: Dec 18, 2008
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China Medical Technologies, Inc. (中国医疗技术公司) will sell its High Intensity Focused Ultrasound tumor therapy system business to Chengxuan International Ltd., the company's major shareholder, for $53.5 million in cash.  Chengxuan, which is wholly owned by Mr. Xiaodong Wu, the Chairman and Chief Executive Officer of the Company, holds all of Mr. Wu's 26.1% stake in China Medical.  It is the major shareholder in the company. More details...

Stock Symbol: (NSDQ: CMED)

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