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FOR IMMEDIATE RELEASE
NOVEMBER 17, 2003
Contact: Lawrence Pemble
Robert Goodwin
Chindex International, Inc.
(301) 215-7777
CHINDEX
INTERNATIONAL ANNOUNCES
JOINT VENTURE WITH NESH COSMETICS OF ISRAEL
Natural Formula Premium Brand Personal Care Products
Distribution To Retail Pharmacies In Top 55 Chinese Urban
Markets
Planned
BETHESDA, MD (November
17, 2003) - Chindex International, Inc. (Nasdaq:CHDX), the largest
independent American distributor of Western healthcare products and
services in the People's Republic of China, today announced it has
established a joint venture with Nesh Cosmetics Ltd. of Israel. The
venture, Natural Formula Asia, Ltd., will distribute the Nesh brand
of Natural Formula cosmetics to the retail pharmacy markets in China.
The initial portfolio of hair care
and deodorant products are currently on the shelves of 25 select pharmacies
in Shanghai, Beijing and Hangzhou. Over the next 18 months these,
and many more Natural Formula products, will be brought to market
in 180 additional locations in key regional cities in East China.
Natural Formula Asia, Ltd. plans distribution to the top 1,000 pharmacies
in 55 cities throughout China over the next 4 years.
Roberta Lipson, President and CEO
of Chindex, spoke from Beijing at recent media launch events: “Our
joint venture with our partners at Nesh Cosmetics marks a significant
step in the expansion of our distribution business in the retail pharmacy
markets. We are already distributing health related brand products
to nearly 300 pharmacies in 25 cities on a daily basis. We are very
excited about this step in our development, as a partner in Natural
Formula Asia, Ltd., we have taken an equity position in a well established
brand as it enters the China market. The market potential in health
related personal care products in the metropolitan markets in China
is enormous.”
Yossi Sadeh, a Director of the Natural
Formula Asia joint venture addressed a press conference in Beijing:
“Natural Formula was established in 1987 by Nesh Cosmetics in
Israel and has become a trusted name throughout the worldwide healthcare
market. Nesh markets over 400 personal health and beauty care products
which are available in 17 countries. They enjoy a leadership role
in a range of niche OTC, cosmetic and toiletries categories. ”
Elchanan Shaked, Director of Nesh Cosmetics, Ltd. commented on their
strategy: “In China, our target customer is the affluent urban
female aged 24 - 35. Our partnership with Chindex places us
strategically at the early stages of the upscale personal care markets
in China. The timing for market entry in China is excellent and marks
a significant milestone in our efforts to grow the brand name in the
Asia Pacific region. The cosmetics and toiletries market is one of
the fastest growing industries in China. The combination of the Nesh
brand development expertise and Chindex’s marketing and distribution
strength in China gives Natural Formula Asia a proven team.”
Jim Spear, Senior Vice President for
Products Distribution heads the Chindex division responsible for the
company’s retail pharmacy business. “Our ability to control
the physical logistics and cash flows in this distribution chain are
the critical components of the infrastructure that supports this business
model. We are recognized as the gold standard in this industry in
the China market.”
“We are excited about the possibilities
China represents for the Natural Formula brand. Our aim is not just
to generate brand and product excitement but to also to promote a
healthy, natural lifestyle. Our ultimate goal is to help create a
generation of health-conscious women who are in touch with their nature,
focused on their active and lively character, and who subscribe to
a more health-conscious approach to looking and feeling good. This
is the “Natural Formula” brand message,” noted Vincent
Fu, the National Brand Manager for Natural Formula.
About Chindex
Chindex is a leading American company in healthcare in the Greater
Chinese marketplace including Hong Kong. It provides representative
and distribution services to a number of major multinational companies
in the medical device industry including Siemens AG (diagnostic color
ultrasound scanners under the Acuson and Siemens brand names), Becton-Dickinson
(including vascular access, infusion and critical care systems), Johnson
& Johnson (clinical chemistry analyzers), and Guidant (interventional
cardiology products including stents, balloon catheters, and guide
wires). Its distribution channels to the retail pharmacy industry
in China have been developed through a relationship with a major multinational
cosmetics manufacturer. It also provides healthcare services through
the operations of its private hospital corporation in China. With
twenty-two years of experience, over 600 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.
About Nesh Cosmetics, Ltd.
Nesh Cosmetics Ltd. is a
member of the group leading the cosmetic industry in Israel, and the
owner of the brand name Natural Formula. Natural Formula is an international
Brand in the Premium Mass Cosmetic & Toiletries market. Nesh Cosmetics
Ltd. manufactures, distributes, markets and sells its products in
the Middle East, Europe, China & North America. The company is
a trendy, dynamic and marketing oriented organization, with a comprehensive
Export Division and marketing services. The company offers a wide
product assortment including more than 250 products (SKU) in hair,
body and skincare under one brand name: Natural Formula. The products’
special benefits are characterized by innovative and unique formulations,
containing natural ingredients. They are problem-solution oriented
products, satisfying the special needs of every customer. Additional
information on the Natural Formula tree, is available at our site:
www.natural-formula.com and at
[email protected]
.
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) performance goals, including successful conclusion of efforts
to secure government-backed financing, (ii) future events and earnings,
including revenues from the Company’s developmental businesses
such as healthcare services, (iii) markets, including growth in demand
in China for the Company’s products and services, and (iv) 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
events.
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