Global Medical Products Holdings Sets 2003 Agenda to Assure Continued Performance and Increased Shareholder Value.
SAN DIEGO--(BUSINESS WIRE)--Dec. 27, 2002
Global Medical Products Holdings, Inc. (OTCBB:GMDP) has set forth its agenda for calendar year 2003 for all interested parties to monitor.
Douglas Brown, President, stated that "with the closings this past month of the acquisitions of Global Glass Source Ltd., Shanghai Ecom Trading Company, and the unincorporated EZ Trac Labs as well as the manufacturing and distribution agreements with Guangzhou Lin Bi Company, Yin Kang Medical Company plus Standard Pharmaceutical and Chemical we have now established ourselves in four geographical regions of China."
"The remaining 2002 agenda, acquisition of the medically related software and hardware company is anticipated for closure during the next sixty days. This will lead to a continued penetration of the hospital market in China where we are building a strong presence."
"By the end of the first quarter of 2003, we anticipate becoming established in three more regions, all of which have been targeted and are in the process of negotiations -- Xian, encompassing four provinces with a population base of 104 million; Beijing, representing the municipalities of Beijing and Tianjin plus the Provinces of Hebei and Shandong with a population of 180 million; and the Shenyang region consisting of Liaoning, Jilin, Heilongjiang and the Autonomous Region of Nei Mongol (Inner Mongolia) populated by over 130 million individuals."
"Furthermore, we look forward to the addition of six new product license lines from well established medical products producers located in the United States and Western Europe."
Global is presently in negotiations to acquire two medical products companies and a factory which will be integrated with Global Glass Source Ltd. These three could well represent an additional $10 plus million (US) in revenues for Global Medical Products Holdings.
EZ Trac Labs is moving rapidly forward with their expanded product applications and are initiating more aggressive marketing and distribution in Japan as well as expanding their product line to their main domestic clients -- the U.S. Army and the National Institute of Health.
And perhaps one of the most significant ventures will be the conclusion of the technical agreement with the Zhongshan Hospital Group, one of the largest in China, which will increase our exposure in the clinical trials area -- a critical requirement for Chinese State Drug Agency (SDA) approval as well as referencing for FDA approval of our products.
"Recognizing the international impact of where Global is headed, we are also seeking to unite with a Hong Kong public company to create a dual listing for our securities. This will expose our company to a group of investors who will add to the market interpretation of what we are doing."
"2002 was a great year," says Brown. "We set out a plan and we accomplished it. 2003 will set in motion our ability to increase our assets and revenues; thus, a dramatic increase in shareholder equity. We WILL become a leading force in the medical equipment and distribution markets in China causing our original projections to be on target," adds Doug Brown.
Legal Notice Regarding Forward-Looking Statements: "Forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. General Medical Products Holdings, Inc. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services and changes in our business strategies.
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|Date:||Dec 27, 2002|
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