Dehaier Medical Systems Ltd. (Nasdaq: DHRM) ("Dehaier" or the "Company"), which develops, markets and sells medical devices and wearable sleep respiratory products in China, today announced that it has won a medical device distribution bid for a new rural healthcare construction project supported by China Development Bank Corp ("CDB"). According to the agreement, Dehaier will provide its proprietary C-arm X-Ray machine and defibrillator monitor to Dongsheng Hospital of Ordos, Inner Mongolia. The procurement project is funded by CDB, one of China's three national policy banks.
In conjunction with Chinese State Council's "Agriculture, Farmer and Village" policy, which is aimed at improving rural living conditions, CDB has earmarked approximately $1.5 billion in loans each year since 2007 for the implementation of national rural healthcare initiatives and the upgrade of medical institutions in nearly 2,900 counties, cities and districts across China. A key objective of this project is the development of new medical facilities in areas lacking adequate healthcare infrastructure.
"We are pleased to be awarded this procurement project funded by CDB, which has been a major part of our key account procurement business. The continued development of China's healthcare system is critical to our country's future, and we believe that this program is an important step forward," said Mr. Ping Chen, CEO of Dehaier. "China's government has placed a major emphasis on the improvement of rural healthcare infrastructure through the establishment of basic medical facilities in each county and township, creating a tremendous growth opportunity in rural China. Our portfolio includes our patented and distributed high quality products at a variety of price points, including products that fit project requirements for smaller facilities that are found in rural areas. We are confident that these government policies and nationwide programs will help create new opportunities for Dehaier to grow sales as we work to expand our business and deliver our healthcare solutions across China."
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