BEIJING, Nov. 28, 2011 /PRNewswire-Asia-FirstCall/ --
Dehaier Medical Systems Ltd. (Nasdaq: DHRM) ("Dehaier" or the
"Company"), an emerging leader in the development, assembly,
marketing and sale of medical devices and homecare medical products
in China, today announced the
appointments of Dr. Weibing Yang as
and Dr. Genhui Chen directors of the Company, both effective
November 28, 2011. Dr. Yang fills the
vacancy resulting from the resignation of Ms. Zheng (Rita) Liu. Ms. Liu resigned in order to
pursue other professional opportunities and not due to any
disagreement with the Company during her tenure as a director. Dr.
Chen will serve as an independent director, member of the Audit
Committee and the Compensation Committee, and chairman of the
Nominating Committee. Dr. Chen fills the vacancy resulting from the
resignation of Mr. Bin Qiu as a director. Mr. Qiu's resignation was
due to personal reasons and not any disagreement with the
Company.
(Logo: http://photos.prnewswire.com/prnh/20100422/CNTH001LOGO
)
Dr. Yang has served as the Company's vice president of sales and
marketing since 2003. Dr. Yang was a sales director at Beijing
Dehaier Technology Company Limited from 2001 through 2003. From
1996 to 1997, Dr. Yang was a product manager at Amtronix Inc., a
medical equipment company. From 1993 to 1996, Dr. Yang served as a
sales manager at Planmeca Medical Equipment Co. From 1989 to 1992,
Dr. Yang was a medical doctor at the Affiliated Hospital of
Shipbuilding Industry Group. Dr. Yang graduated from the Medical
School of SooChow University in 1989. Dr. Yang was chosen as a
director because of his extensive experience in sales and marketing
of medical equipment.
Dr. Chen is president of Beijing Wenfeng Medical Technology Ltd.
("BWMT"), a privately-held pharmaceutical research and development
company focusing on novel cancer and dermatological products. Dr.
Chen has over 15 years of experience, from 1993 to 2008, in the
pharmaceutical industry in the areas of clinical research,
regulatory compliance, corporate development and management, for a
variety of companies ranging from start-ups to public companies,
both in Canada and in China. Prior to joining BWMT in 2010, Dr. Chen
was a founder, president and chief executive officer of Welichem
Biotech Inc., a Canadian pharmaceutical company listed on the TSX
Venture Exchange since 2008. From 1999 until he founded Welichem,
Dr. Chen was a senior scientist at Terragen Discovery Inc., a
subsidiary of Cubist Pharmaceuticals. Dr. Chen received his M.Sc.
and Ph.D. degrees in biology from Simon Fraser
University in Vancouver,
Canada in 1988 and 1991, respectively. Dr. Chen was chosen
as a director because of his extensive experience in research and
development, regulatory compliance, corporate development and
management.
"We would like to extend our appreciation to Ms. Liu and Mr. Qiu
for their valuable contribution to the Board during their tenures,
and wish them every success in their future endeavors," commented
Mr. Ping Chen, Chairman and Chief
Executive Officer of Dehaier, "We are very pleased and honored to
welcome Dr. Yang and Dr. Chen to our Board. We look forward to
working with them and we believe they will bring their substantial
industry and leadership experience to the Board."
About Dehaier Medical Systems Ltd.
Dehaier is an emerging leader in the development, assembly,
marketing and sale of medical products in China, including respiratory and oxygen
homecare medical products. The company develops and assembles its
own branded medical devices and homecare medical products from
third-party components. The company also distributes products
designed and manufactured by other companies, including medical
devices from IMD (Italy), Welch
Allyn (USA), HEYER (Germany), Timesco (UK), eVent Medical (US) and
JMS (Japan). Dehaier's technology
is based on five patents and five software copyrights, in addition
to three pending patents, six pending software copyrights, and
other proprietary technologies. More information may be found at
http://www.chinadhr.com.
Forward-looking Statements
This news release contains forward-looking statements as defined
by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. These statements are subject to
uncertainties and risks including, but not limited to, product and
service demand and acceptance, changes in technology, economic
conditions, the impact of competition and pricing, government
regulation, future developments in payment for and demand for
medical equipment and services, implementation of and performance
under the joint venture agreement by all parties, and other risks
contained in reports filed by the company with the Securities and
Exchange Commission. All such forward-looking statements, whether
written or oral, and whether made by or on behalf of the company,
are expressly qualified by the cautionary statements and any other
cautionary statements which may accompany the forward-looking
statements. In addition, the company disclaims any obligation to
update any forward-looking statements to reflect events or
circumstances after the date hereof.
SOURCE Dehaier Medical Systems Ltd.