China Infrastructure Construction Corp. (OTCPK: CHNC) is Pleased to Announce its Acquisition of Precision Research Institute, LLC (PRI)
October 21, 2019 08:00 ET | Source: China Infrastructure Construction Corp.
HOUSTON, TX, Oct. 21, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – China Infrastructure Construction Corp. (OTCPK: CHNC) www.chnc-hdh.com is pleased to announce its acquisition of Precision Research Institute, LLC (PRI).
PRI is a Multi-Therapeutic, Dedicated Research Unit based in Houston, Texas. PRI brings multi-million-dollar contracts with the largest pharmaceutical companies in the world--like Abbvie, Samumed, Gilead, Intercept, Shire Pharmaceuticals, and more. President & CEO Elizabeth Hernandez says, “This acquisition of PRI, our second in the past year, now puts CHNC in the unique position of conducting its own clinical research trials. Which holds an important value the to the future of Medicine. CHNC is now in position to be the leader in the arena of Medical Clinical Trials. CHNC is in the process of becoming its very own Contract Research Organization (CRO) in the Industry. The looking forward to developing the future of Pharmaceutical, Biotechnology, and Pharmacovigilance Clinical Trials. PRI has Phase I, II, and III clinical trial capabilities--a rare feat. PRI’s facility is 4500 sq. ft. and currently has ongoing Phase II, III clinical trials, along with observational studies. Their fifteen active multi-million-dollar contracts is a great head start for CHNC. We look forward to expanding quickly!”
The acquisition, which has been approved by the board of directors, is subject to certain closing conditions, including OTC approval, approval by the stockholders of China Infrastructure Construction Corp. (CHNC), minimum cash balance of CHNC at closing, and other customary closing conditions.
About China Infrastructure Construction Corp. (OTCPK: CHNC)
Hippocrates Direct Healthcare, Inc. is a wholly owned subsidiary of CHNC, maintains a medical office, and also does clinical research for pharmaceutical companies. Hippocrates began with its membership-based model and now provides stem cell and clinical research services.
Hippocrates Direct Healthcare, Inc. is a wholly-owned subsidiary of China Infrastructure (OTCPK: CHNC). China Infrastructure's common stock trades on the OTC Markets under the ticker symbol "CHNC."
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