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Biosensors Acquiring The Remaining 50% Interest In JWMS, Weigao Becoming A Major Shareholder Of Biosensors

Date:2013-08-27
NEWS RELEASE – FOR IMMEDIATE RELEASE
  Biosensors acquiring the remaining 50% interest in JWMS
  Weigao becoming a major shareholder of Biosensors
  12 June 2011 ‐ Biosensors International Group, Ltd. (“Biosensors”) and Shandong Weigao Group Medical Polymer Company Limited (“Weigao”) announced the restructuring of the shareholding in JW Medical Systems Ltd (“JWMS”) whereby Biosensors acquire the remaining 50% of JWMS from Weigao. After completing this transaction, JWMS will be a wholly-owned subsidiary of Biosensors.
  Subject to the obtaining of the required approvals, the purchase consideration (the “Purchase Consideration”) for Weigao shall comprise: (i) a cash payment of S$160,000,000; (ii) the issuance to Weigao of 260,000,000 new ordinary shares of Biosensors, and; (iii) the issuance to Weigao of US$120,043,000 principal amount of 4% convertible notes due 2014 from Biosensors. After the completion of this transaction, Weigao will be a strategic shareholder of Biosensors and will participate in Biosensors’ development through its membership in Biosensors’ board.
  Mr. Yoh-Chie Lu, Chairman of Biosensors said, “Since commercialization of its drug-eluting stents (“DES”) in early 2006, JWMS has become one of the top suppliers of the local DES market in China. This acquisition demonstrates a joint dedication between Biosensors and Weigao to foster stronger relationships as long-term strategic partners. The market for DES continues to grow rapidly in China and obtaining full ownership of JWMS, Biosensors will instantaneously become a stronger player in this vital market. At the same time, with Weigao as a strategic shareholder of Biosensors and our unique proprietary drug and polymer technologies, we are set to become a major DES supplier in China for many years to come.“
  “As one of the largest economy in the world, China presents a fastest growing market for companies with innovative technologies and operational excellence.” Mr. Chen Xue Li, Chairman of Weigao said, “Being a key shareholder of Biosensors, we are committed to make Biosensors the premier medical technology company in China and the global market.”
  Biosensors has released an announcement related to this acquisition on the SGXNet and it is also available at Biosensors’ corporate website at www.biosensors.com under the Investor Relations section.
  Weigao has released an announcement of the transaction on the Stock Exchange of Hong Kong's website and it is also available at Weigao's corporate website at www.weigaogroup.com under the Investor Relations section.
  An investor/analyst briefing session will also be held at 9 pm (Singapore time) on 13 June 2011. The call-in details will be released on Monday.
  DBS Bank Ltd. was appointed by Biosensors to act as Biosensors’ financial adviser in relation to this transaction.
  For Biosensors International Group, Ltd
  Mr. Wong Teck Yenn
  Director, Investor Relations
  Tel: (65) 6213 5708
  Email: ty.wong@biosensors.com
  For Shandong Weigao Group Medical Polymer Company Limited
  Ms Phyllis Chan
  Head of Business Development and Investor Relations
  Tel: (852) 2838 1868
  Email: phyllischan@weigao.com.hk
  About Biosensors International Group, Ltd
  Biosensors develops, manufactures and markets innovative medical devices for interventional cardiology and critical care procedures. We aim to improve patients' lives through pioneering medical technology that pushes forward the boundaries of innovation.
  With the increasing use of the BioMatrix? family of drug-eluting stents, we are rapidly emerging as a leader in the global coronary stent market. The forthcoming launch of the Axxess? self-expanding bifurcation drug-eluting stent and the development of the BioFreedom? drug-coated stent will further reinforce our market position.
  All three stents incorporate Biolimus A9? (BA9?), an anti-restenotic drug developed and patented by Biosensors specifically for use with drug-eluting stents. Both the BioMatrix stent family and the Axxess stent feature a unique abluminal biodegradable polymer coating, which fully degrades into carbon dioxide and water over a six-to-nine-month period as it releases BA9. The BioMatrix stent family features workhorse stent platforms for a broad range of lesions, and the Axxess stent employs a self-expanding stent platform specifically designed for treating bifurcation lesions. BioFreedom, a completely polymer‐free stent abluminally coated with BA9, is currently undergoing clinical evaluation.
  For more information, please visit www.biosensors.com.
  About Shandong Weigao Group Medical Polymer Company Limited
  The Group is principally engaged in the research and development, production and sale of single-use medical devices. The Group has a wide range of products, which includes: 1) consumables (infusion set, syringes, medical needles, blood bags, blood sampling products and other consumables); 2) orthopedic materials; 3) blood purification consumables; and 4) stent. The Group has a nationwide sales network and an extensive customer base of over 5,055 healthcare organizations, including over 2,934 hospitals and 413 blood stations.
  For more information, please visit www.weigaogroup.com.
  Forward-Looking Statements
  Certain statements herein include forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the use of forward-looking terminology, such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “project” or “continue” or the negative thereof or other similar words. All forward looking statements involve risks and uncertainties, including, but not limited to, customer acceptance and market share gains, competition from companies that have greater financial resources; introduction of new products into the marketplace by competitors; successful product development; dependence on significant customers; the ability to recruit and retain quality employees as Biosensors grows; and economic and political conditions globally. Actual results may differ materially from those discussed in, or implied by, the forward-looking statements. The forward-looking statements speak only as of the date of this release and Biosensors assumes no duty to update them to reflect new, changing or unanticipated events or circumstances.