China Health Care Corporation (CHCC) Welcomes China Experienced Health Care Veteran Team as Senior Management
DALLAS, TX, Sep. 25, 2009 (Marketwire) --
DALLAS, TX -- (Marketwire) -- 09/25/09 -- China Health Care Corporation (OTCBB: CNHL) is pleased to announce the appointment of China seasoned healthcare veteran team of Dr. Kenneth K. Lee as the Chief Executive Officer and Doctor Cheng Xiu-Sheng as Executive Chairman to spearhead the growth of the USA publicly traded organization into a national network of Women Specialty Hospitals, Satellite Health Centers and VIP Maternity & GYN Centers in China. Dr. Lee takes over from Mr. Faith Lam, Acting CEO, who will remain as the Director of Accounting & Procurement and Acting CFO to the organization effective immediately.
"The Board is extremely pleased that we have someone of Dr. Lee's and Doctor Cheng's expertise and Greater China experiences to return to the company and champion the growth of our organization. Both of them are very familiar with CHCC's China focused core competencies so they can get off the ground running. This team exemplifies the international standard and Chinese characteristic competitive advantages CHCC relies on and translates into financial success. We are confident that they will improve shareholder values of this Company over time. The Board also wishes to thank Mr. Lam for his previous service and continuous contribution to the Company."
"China, the World's third largest economy, continues to grow at an amazing 9% in 2008 despite the global financial challenge. In March 2009, China's State Council announced an allocation of $124 billion toward Chinese healthcare reform. This is an exciting time for an international standard healthcare company with a successful operating record in China such as CHCC to reap the benefits of our years of investment. Mr. Cheng and I look forward to building upon CHCC's successful VIP Maternity & GYN Center business model and raise to the next level of success with our equity owned Women's Specialty Hospital Network supported by Satellite Health Centers. We appreciate your confidence in us and we look forward to your continuous support."
Dr. Kenneth Lee, Chief Executive Officer
Kenneth K. Lee, Chief Executive OfficerM.D. (USA), MBA (USA), MPH (USA), CMCM (USA), CPE (USA), FAAFP (USA)
Dr. Lee has twenty plus years of senior healthcare experiences from the various sectors of the healthcare industry in the U.S.A and P.R.C. Dr. Lee's M&A experiences started with LBO of a U.S. single specialty group practice and eventual growth and strategic vertical integration with the seventh largest faith based hospital system in the USA to form a 125-physician Integrated Delivery System Primary Care Network. Dr. Lee is also experienced in small hospital start-up in Asia thru his tenure as the Chief Operating Officer for University Hospital in Macao whereby he commissioned the Western medicine division. Dr. Lee's other USA senior hospital experiences included serving as the Board of Managers for Northern Ohio Alliance for Health, Ltd, an eleven hospitals coalition in Northwestern Ohio, to provide managed care leadership.
Before joining UPMG and serving as the Chief Operating Officer, he was the Founder and Chief Executive Officer of American-Sino Internationalization Consulting and Managing, Ltd, a PRC WOFE. He also served as Medical Director of Huashan Hospital American-Sino OB/GYN Services (ASOG) in Shanghai and Senior Management Consultant for ASOG in Beijing. Prior to moving to China, he was the Regional Care Management Medical Director for United Health Group, the largest USA health insurance company. Dr. Lee is further experienced in training international physician to American standard of care through his tenure as the Director of accredited residency training program in Chicago with the Resurrection Healthcare System.
Dr. Lee is board certified in Family Medicine, Medical Administration and Managed Care in the United States. Dr. Lee obtained his medical degree from Medical University of Ohio and his dual Master degrees in business administration and public health from the University of South Florida.
Xiu-Sheng Cheng, B.M., MBA -- Executive ChairmanB.M. (P.R.C. Fudan), MBA (P.R.C. Fudan)
Doctor Xiu-sheng Cheng has over 26 years of China healthcare experiences in clinical medicine, healthcare administration and management for various hospitals, health bureau administrative organizations and medical foundations. Prior to 2003, he was the Executive Vice Secretary-General and one of the Founders of International Medical Network Center (IMNC) of the China Medical Foundation whereby he put together a national network of 280 Chinese hospitals. Doctor Cheng was also the Deputy General Manager of Shanghai Distance Learning Medical Network Co., Ltd., and the Information Center of Shanghai Health Bureau. Doctor Cheng was the Vice President of American Brother Industrial Co., Ltd. and concurrent board member and Vice President of Shanghai Huawang Technic & Trade Co., Ltd. In the early 1990s, he undertook the positions of Doctor-in-charge and Deputy Director in Health Bureau administrative organizations and Class3A hospitals.
Doctor Cheng graduated from the top Fudan University in Shanghai with a Bachelor's degree of Social Medicine and Healthcare Administration and a MBA degree of Healthcare Economics.
About China Health Care Corporation (CHCC)
China Health Care Corporation (CHCC), through its China operating arm known as United Premier Medical Group (UPMG), has developed a network of maternal-child facilities in mainland China and Macau. Services are geared towards middle and upper-class Chinese families. Founded in 2001, CHCC has positioned itself to be a pioneer in providing premium services by integrating Western know-how and Eastern efficiencies. The Company's goal is becoming a leader in the Women's Health and continuity of care family-care markets. For further information, please see http://www.China-Healthcare.US.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by the Company or on its behalf. This news release contains forward-looking statements, which are subject to certain risks and uncertainties that can cause actual results to differ materially from those described. These factors, and others, are discussed from time to time in our filings with the Securities and Exchange Commission. Undue reliance should not be placed on these forward-looking statements, which speak only as of the date they are made. China Healthcare Corporation undertakes no obligation to publicly update or revise these forward-looking statements to reflect events or circumstances after the date they are made.
Source: Marketwire (September 25, 2009 - 7:17 PM EDT)
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