BEIJING, Oct. 16, 2012 (GLOBE NEWSWIRE) -- Dehaier Medical Systems Ltd. (Nasdaq:DHRM ) ("Dehaier"), an emerging leader in the development, assembly, marketing and sale of medical devices and homecare medical products in China, today announced that it has signed three medical equipment procurement agreements with Beijing's Hospitals 304 and 307, two of China's most well-known first-tier hospitals, and with Beijing Kanglian Medicines Co. for the China Development Bank Rural Medical and Health Construction Project. Dehaier expects to recognize revenue of approximately $890,000 from the three projects, all of which are expected to be completed within the next twelve months. Supported by Philips Electronics Hong Kong Limited and Johnson & Johnson Medical, both well-known American medical equipment companies, Dehaier won the project bids to provide Philips' Color Doppler Ultrasound Diagnostic Systems, Johnson & Johnson's Ultrasonic Scalpels and Beijing-based Yi An's Medical Ventilators. "In 2011, Dehaier established an account team focused on state-level and other large-scale procurement projects, to foster and develop business with emerging clients with significant purchasing power. Dehaier believes its commitment to exceeding customer expectations and developing long-term and reliable relationships with leading Chinese hospitals and key international medical device manufacturers have made Dehaier successful in bidding for large projects like these new ones," said Mr. Ping Chen, CEO of Dehaier. "The time and resources we have devoted to our key account team have paid off for Dehaier. As China keeps investing in healthcare reform and system improvements, Dehaier will continue to leverage its experience and resources to grow with the industry." About Dehaier Medical Systems Ltd. Dehaier is an emerging leader in the development, assembly, marketing and sale of medical products, including respiratory and oxygen homecare medical products. The company develops and assembles its own branded medical devices and homecare medical products from third-party components. The company also distributes products designed and manufactured by other companies, including medical devices from IMD (Italy), Welch Allyn (USA), HEYER (Germany), Timesco (UK), eVent Medical (US) and JMS (Japan). Dehaier's technology is based on six patents, nine software copyrights and proprietary technology. More information may be found at http://www.dehaier.com.cn Forward-looking Statements This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, government approvals or performance, and underlying assumptions and other statements that are other than statements of historical facts, including in particular any implications regarding Beijing Kanglian Medicines Co. for the China Development Bank Rural Medical and Health Construction Project, the Hospital 304 and 307 procurement projects and continuance of current Chinese government healthcare initiatives. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, future developments in payment for and demand for medical equipment and services, implementation of and performance under the joint venture agreement by all parties, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
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