China Health in definitive acquisition deal for Henan Furen

Julianna Lu, chief executive of China Health Holding (CHHH), a developer, marketer and manufacturer of natural herbal supplement products based on traditional Chinese medicine, says that his firm has executed a definitive acquisition agreement with Henan Furen Huaiqingtang Pharmaceutical and Henan Furen Pharmaceuticals Group, as well as the shareholders of Henan Furen Huaiqingtang Pharmaceutical for the acquisition 60% of the outstanding stock of Henan Furen Huaiqingtang Pharmaceuticals (HFHP). Pursuant to this, CHHH agreed to pay $95.0 million for 60% of the outstanding stock of HFHP.

HFHP is a China Food and Drug Administration-certified Good Manufacturing Practices-standards pharmaceutical manufacturer based in Zhengzhou, China, and has a total list of 46 China-FDA certified drugs that are distributed to China-FDA Licensed Hospitals and drug stores across Henan province and across the whole country.

CHHH believes that the acquisition of HFHP will create incremental value to the company and its shareholders as a result of the expected contribution from HFHP on its operating results and assets. The company further believes that, from a strategic perspective, this acquisition will save both time and money as would be required to gain access to the resources and facilities this deal provides.