Business Services Industry
Cell Robotics International Inc. Ink a Deal with a $10 Million Dollar China-Based Medical Device Provider, Initiating the Cell Robotics Acquisition Growth Strategy
Business Wire, Dec 7, 2005
ALBUQUERQUE, N.M. -- Cell Robotics International Inc. (OTC:CRII) embarked on accelerating its penetration of the $140 billion global market for medical devices by entering into a letter of intent to acquire its first China-based medical device company. The company is in the business of designing, developing, manufacturing and marketing laser skin treatment equipment to markets in China and parts of Europe. The company has been a leading supplier of these products to the Chinese market for more than five years and has sales of more than $10 million per year, with an annual profit of over 20%.
James S. Toreson, CEO of Cell Robotics, stated, "This acquisition starts the execution of our company's strategic plan to acquire at least five successful companies in the coming year that are leading providers of medical-based devices in the Chinese market." He further stated, "This plan gives the company several benefits including an immediate boost in revenues and profits, access to the Chinese market for distribution of our products, and access to Chinese-based engineering and manufacturing to increase our competitive position and profitability in the world market."
The terms of the letter of intent require that the company's identity remain undisclosed until a definitive agreement is reached, which is expected to occur within the next 60 days.
The company's strategic plan calls for the product line of each acquisition to have the potential to penetrate the U.S. market, which will be exploited by the company using its marketing know-how and proven ability to obtain FDA approvals. This strategy affords the company the ability to further accelerate its revenue growth, shorten its path to profitability, and exploit the synergy between the advanced medical device research resources in the United States and the low-cost product development and manufacturing resources in China.
About Cell Robotics International Inc.
Cell Robotics International Inc. is based in Albuquerque, N.M., and is the developer of innovative medical devices. Its flagship product is known as the "Clinical Lasette," which is the only laser-based solution in the market for blood sampling, which affords it significant competitive advantages over the older "lancet"-based technology, by enabling a "needle-less" method of obtaining blood samples, which uniquely satisfies the safety rules imposed by the U.S. Congress and OSHA. The estimated size of the worldwide market for the Clinical Lasette is more than $40 million per annum. Further information on Cell Robotics International Inc. and its product lines can be obtained on its Web site at www.cellrobotics.com.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by the lead-in "Looking Forward." These statements are by no means guarantees of future performance and involve significant risks and uncertainties. Actual results may vary materially from those in the forward-looking statements as a result of the effectiveness of management's strategies and decisions, and general economic climate.
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