Chindex International Inc. Signs Exclusive Distribution Agreement for L'Oreal Product Line in China.BETHESDA, Md.--(BW HealthWire)--June 11, 1998--Chindex International Inc. (Nasdaq:CHDX) (formerly U.S.-China Industrial Exchange Inc.), the leading independent American company providing Western health care products distribution and medical services in the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China, Thursday announced it has signed an exclusive distribution agreement with Cosmetique Active International, a division of Paris-based L'Oreal S.A. Under the terms of the agreement, Chindex will distribute VICHY Laboratoires health-oriented cosmetics and skin care products, manufactured by L'Oreal, in selected pharmacies in Eastern China, beginning with Shanghai. Test market shipments are expected to begin in July 1998. As of April 10, 1998, Chindex assumed exclusive responsibility for sales and physical distribution of cosmetics, including skin care products, sold under the VICHY Laboratoires brand of L'Oreal. L'Oreal is the world's largest producer of cosmetic products and distributes VICHY as well as other brands worldwide through its subsidiary, Cosmetique Active International S.N.C. VICHY products have been marketed exclusively in retail pharmacies for over 60 years and are currently sold in about 50 countries. "We are pleased to be doing business with VICHY Laboratoires," Roberta Lipson, Chindex chairperson chairperson Chairman The head of an academic department. See 'Chair.', Cf Chief. , president and chief executive officer, commented in Beijing. "The distribution agreement with VICHY Laboratoires begins our expansion into China's rapidly growing retail pharmacy pharmacy, art of compounding and dispensing drugs and medication. The term is also applied to an establishment used for such purposes. Until modern times medication was prepared and dispensed by the physician himself. In the 18th cent. sector, which is a very important strategic step for Chindex. It expands the markets we serve and, because of our many years of experience and investment in distribution and sales resources, we are well positioned to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the growth in retail pharmacies in China." Paolo Gasparrini, president and managing director of L'Oreal China, said, "Chindex is an excellent partner for VICHY Laboratoires for this new program in China. We are very happy with the agreement and have high expectations for results in the years to come." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Stephane Wilmet, manager of the VICHY program in China: "We have been preparing for this new product launch for some time now. With Chindex as our distribution partner, we will begin with a test-marketing phase in select pharmacies. Our plans then call for significant expansion within two years. Our aim is to bring profitable personal care products and international retailing practices to China's underdeveloped un·der·de·vel·oped adj. Not adequately or normally developed; immature. retail pharmacy sector." James Spear, vice president of Products Distribution at Chindex, heads up the logistics and distribution profit centers which will provide the platform for the VICHY Laboratoires program. "Since we will be pioneering a market segment in retail pharmacy that does not exist in China today, there is a tremendous potential for both Chindex and VICHY Laboratoires with this program," said Spear. Chindex is a leading American company in health care in the Greater Chinese marketplace including Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. and Macau. It provides representative and distribution services to a number of major multinational companies including Acuson, Johnson & Johnson, Kendall Healthcare Products and Schering AG. It also operates a private hospital corporation in China. With over 17 years of experience, 200 employees, and operations in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , 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 professional communities. The statements in this news release that relate to future plans, events or performance are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties, including risks associated with uncertainties pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to customer orders, demand for products and services, development of markets for the company's products and services, and other risks identified in the company's SEC filings. Actual results, events and performance many differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" . 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 CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or after the date hereof or to reflect the occurrence of unanticipated events. CONTACT: Chindex International Inc., Bethesda Lawrence Pemble or Robert Goodwin, 301/215-7777 |
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