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China Grand Pharm (0512) to form JV with parent's subsidiary
China Grand Pharmaceutical and Healthcare (00512) said it agreed to establish a joint
venture company with East Ocean Capital (Hong Kong) Company Limited, an indirect non-
wholly owned subsidiary of controlling shareholder China Grand Enterprises Incorporation
China Grand Pharmaceutical will obtain not more than 49.9% equity interests of the JV.
The total investment in the JV will be about US$15 million to be settled by cash, of 
which China Grand Pharmaceutical will contribute not more than about US$7.485 million. 
It is proposed that the JV will principally be engaged in the business of the sale of
cerebro-cardiovascular medical devices, including (but not limited to) identifying and 
making investment in the companies in North America which are manufacturing and sale of
cerebro-cardiovascular medical devices, and also applying the product registration and 
building up the distribution channel in the PRC.
This is expected to strengthen the market leading position of the China Grand
Pharmaceutical Group in the field of cerebro-cardiovascular emergency and interventional 
treatments areas, and also enrich the existing range of products in the
cerebro-cardiovascular field

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