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Bethesda,
Maryland - March 22, 2005 - Chindex
International, Inc. (NASDAQ:CHDX), a leading independent American
provider of Western healthcare products distribution and healthcare
services in the People's Republic of China, today announced that it
has entered into definitive agreements with institutional accredited
investors with respect to the sale of 1,080,397 shares of its common
stock, for an aggregate purchase price of approximately $6.5 million,
together with warrants to purchase an additional 378,137 shares of
its common stock. The warrants have an exercise price of $9.10 per
share and a five-year term from the date of issuance. The financing
will be used to repay certain vendor financing and for general working
capital purposes. Oppenheimer & Co. Inc. acted as the placement
agent for the transaction.
The
securities issuable in the financing are being issued to institutional
accredited investors in a private placement exempt from the registration
requirements of the Securities Act of 1933 and may not be resold unless
there is either an effective registration statement under, or a valid
exemption from the registration requirements of, such Act.
Chindex
is an American company operating in several healthcare sectors of
the Chinese marketplace, including Hong
Kong . It provides representative
and distribution services to a number of major multinational companies,
including Siemens AG (ultrasound systems) and Guidant (interventional
cardiology products including stents, balloon catheters and guide
wires). Its distribution channels to the retail pharmacy industry
in China
were developed through a relationship with a major multinational cosmetics
manufacturer. It also provides healthcare services through the operations
of its two private hospitals in China
. With twenty-three years
of experience, over 800 employees and operations in the United
States , China
and Hong
Kong , the Company's strategy
is to expand its cross-cultural reach by providing leading edge technologies,
quality products and services to Greater China's professional communities.
Further company information may be found at the Company's websites
www.chindex.com and www.unitedfamilyhospitals.com
The
statements in this press release that relate to future plans, events
or performance are forward-looking statements that involve risks and
uncertainties, including risks associated with uncertainties pertaining
to the Company's (i) introduction of new products, (ii) performance
goals, including successful conclusion of efforts to secure government-backed
financing and successful implementation of such financing, (iii) future
events and earnings, including revenues from the Company's developmental
businesses such as healthcare services, (iv) markets, including growth
in demand in China for the Company's products and services, and (v)
proposed new operations, including expansion of its healthcare services
business. Actual results, events and performance may differ materially.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. The Company undertakes
no obligation to release publicly the result of any revisions to these
forward-looking statements that may be made to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
event .
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