This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

BG Medicine Announces Agreement With Kindstar Diagnostics Which Will Provide Galectin-3 Testing Services In China

Stocks in this article: BGMD

WALTHAM, Mass., Oct. 24, 2012 (GLOBE NEWSWIRE) -- BG Medicine, Inc. (Nasdaq:BGMD), a company focused on the development and commercialization of novel cardiovascular diagnostics, announced today that it has entered into an agreement with Kindstar Diagnostics Co. Ltd., the largest esoteric diagnostic testing business in China, that will enable Kindstar to offer galectin-3 testing services for heart failure management in China.  In the US, the BGM Galectin-3 ® test is cleared by the FDA as an aid in assessing the prognosis of patients with chronic heart failure.

Kindstar, which provides laboratory testing services to over 2,000 Chinese hospitals, will offer galectin-3 testing services as part of its growing suite of cardiovascular tests. Kindstar has a broad reach and strong network in the burgeoning diagnostic testing market in China, which is in the process of reforming its health care system under its Healthy China 2020 initiative. While the country works to expand health care coverage for its 1.4 billion citizens by 2020, a substantial and increasing segment of the population currently pay out-of-pocket for essential medical services, which provides a ready market for diagnostic testing services like galectin-3 testing.

"We are excited to be partnering with Kindstar, the largest diagnostics lab in China, to further expand the footprint of galectin-3 testing throughout the world," said Eric Bouvier, President and Chief Executive Officer of BG Medicine. "Cardiovascular disease is one of the most prevalent and debilitating diseases in China, affecting more than 230 million people, and we believe that Kindstar's galectin-3 testing services will help to provide medical professionals with clinical information on fibrosis formation and cardiac remodeling, which are important biological processes in the development and progression of heart failure, while also helping to manage the costs of expanding health care coverage to more of China's citizens."

"Every minute six people in China die from cardiovascular disease, making it imperative that we do what we can to improve the lives of those affected," said Dr. Shiang Huang, Chief Executive Officer of Kindstar Diagnostics. "We believe that clinically relevant and novel markers like galectin-3 will help medical professionals in China identify patients who are at greatest risk for developing heart failure, which assists us to focus the most attention on those who need it."

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs