HONG KONG, Dec. 6, 2019 /PRNewswire/ -- Global Cord Blood
Corporation (NYSE: CO) (the "Company"), China's leading provider of cord blood
collection, laboratory testing, hematopoietic stem cell processing
and stem cell storage services, today reported that China's National Health Commission ("NHC")
recently issued a new policy allowing the relevant Provincial
Health Commissions ("PHCs") to approve cord blood bank licenses in
18 pilot Free Trade Zones ("FTZs") in China.
On November 29, 2019, the NHC
announced its Notice Regarding the Issuance of Free Trade Zone
"Separating Permits from Business Licenses" Healthcare Reform
Implementation Plan* (the "New Policy"). According to the New
Policy, PHCs will be responsible for approving cord blood bank
establishments, granting cord blood bank licenses to applicants who
satisfy all requirements, and organizing specialists and relevant
technical departments to perform technical and operational reviews.
The State Council has approved pilot FTZs for 18 provinces or
municipalities in China, namely:
Shanghai, Tianjin, Fujian, Guangdong, Liaoning, Zhejiang, Hubei, Henan,
Chongqing, Sichuan, Shaanxi, Hainan, Shandong, Jiangsu, Guangxi, Hebei, Yunnan
and Heilongjiang.
The New Policy does not specify the implementation details, such
as qualifications for applicants, license approval procedures or
licensed region coverage, but it implies that the regulatory bodies
could expand the current 7 licensed regions for cord blood banking
up to 19 regions, including Beijing.
The Company cautions its shareholders and others considering
trading its ordinary shares that detailed rules on the
implementation of the New Policy is yet to be provided by relevant
government agencies. Therefore, at the moment it is difficult to
make an informed prediction/judgement regarding the potential
implications upon the regulatory environment and competitive
landscape of the cord blood banking industry in China. The Company will issue further
announcements to keep the market informed in case of any new
material developments.
*Direct translation for reference only
About Global Cord Blood Corporation
Global Cord Blood Corporation is the first and largest umbilical
cord blood banking operator in China in terms of geographical coverage and
the only cord blood banking operator with multiple licenses. Global
Cord Blood Corporation provides cord blood collection, laboratory
testing, hematopoietic stem cell processing and stem cell storage
services. For more information, please visit the Company's website
at http://www.globalcordbloodcorp.com.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, and
Section 21E of the Securities Exchange Act of 1934. These
statements relate to future events or the Company's future
financial performance. The Company has attempted to identify
forward-looking statements by terminology including "anticipates",
"believes", "expects", "can", "continue", "could", "estimates",
"intends", "may", "plans", "potential", "predict", "should" or
"will" or the negative of these terms or other comparable
terminology. These statements are only predictions, uncertainties
and other factors may cause the Company's actual results, levels of
activity, performance or achievements to be materially different
from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking
statements. The information in this press release is not intended
to project future performance of the Company. Although the Company
believes that the expectations reflected in the forward-looking
statements are reasonable, the Company does not guarantee future
results, levels of activity, performance or achievements. The
Company expectations are as of the date this press release is
issued, and the Company does not intend to update any of the
forward-looking statements after the date this press release is
issued to conform these statements to actual results, unless
required by law.
For more information, please contact:
Global Cord Blood Corporation
Investor Relations Department
Tel: (+852) 3605-8180
Email: ir@globalcordbloodcorp.com
ICR, Inc.
William Zima
Tel: (+86) 10-6583-7511
U.S. Tel: (+1) 646-405-5185
Email: william.zima@icrinc.com
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SOURCE Global Cord Blood Corporation