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Posted by: timmage
Date: Thursday, July 31, 2008 2:07:07 PM
In reply to: None Post # of 212780
CNHL .52 x .80 China Health Care Corporation (CHCC) Announces Merger With United Premier Medical Group
Shares Trade Under Symbol CNHL.OB on the Over-the-Counter Bulletin Board
Jul 31, 2008 2:02:00 PM
DALLAS, TX -- (MARKET WIRE) -- 07/31/08 -- United Premier Medical Group today announced a stock-for-stock merger with China Health Care Corporation (CHCC) (OTCBB: CNHL). The combined Company will operate under the name China Health Care Corporation, and will assume and execute United Premier Medical Group's business plan as its sole business. China Health Care Corporation will retain United Premier Medical Group's senior management and its current board of directors. Shares are listed on the Over-the-Counter (OTC) Bulletin Board and trade under the symbol CNHL.OB.
"The listing of our stock in the public markets represents the completion of several steps we have taken to financially position the Company for future growth," said Mr. Jay Macfarland, Chief Executive Officer of the Company. "Significant support from the financial world and health care entities and China have given us access to both capital and strategic introductions that will significantly benefit the Company moving forward," Mr. Macfarland continued. "The listing provides the proper venue for attaining a higher level of corporate visibility, and allows investors to better assess China Health Care Corporation's value in relation to its publicly-traded peers."
China Health Care Corporation is a premier provider of OB/GYN health care services to customers in China. The Company affords customers premier prenatal care, birthing services and ongoing care to mothers and children. To date, CHCC has commissioned seven facilities and continues to incorporate new hospitals and clinics into their model.
"The transaction will enable China Health Care Corporation to pursue the strategic acquisitions and bring new facilities into the CHCC model. New talent and expanded sales and marketing activities will also be incorporated," commented Jay Macfarland, Chief Executive Officer of China Health Care Corporation.
Market makers trading shares of China Health Care Corporation include: Domestic Securities, Inc.; Hudson Securities, Inc.; Hill, Thompson, Magid and Co., Inc.; Murphy and Durieu, L.P.; and Knight Equity Markets, L.P.
