DALLAS, TX -- (MARKET WIRE) -- 07/31/08 -- United Premier Medical Group today announced astock-for-stock merger with China Health Care Corporation (CHCC) (OTCBB: CNHL). The combined Company will operate under the name China Health CareCorporation, and will assume and execute United Premier Medical Group'sbusiness plan as its sole business. China Health Care Corporation willretain United Premier Medical Group's senior management and its currentboard of directors. Shares are listed on the Over-the-Counter (OTC)Bulletin Board and trade under the symbol CNHL.OB."The listing of our stock in the public markets represents the completionof several steps we have taken to financially position the Company forfuture growth," said Mr. Jay Macfarland, Chief Executive Officer of theCompany. "Significant support from the financial world and health careentities and China have given us access to both capital and strategicintroductions that will significantly benefit the Company moving forward,"Mr. Macfarland continued. "The listing provides the proper venue forattaining a higher level of corporate visibility, and allows investors tobetter assess China Health Care Corporation's value in relation to itspublicly-traded peers."
China Health Care Corporation is a premier provider of OB/GYN health careservices to customers in China. The Company affords customers premierprenatal care, birthing services and ongoing care to mothers and children.To date, CHCC has commissioned seven facilities and continues toincorporate new hospitals and clinics into their model.
"The transaction will enable China Health Care Corporation to pursue thestrategic acquisitions and bring new facilities into the CHCC model. Newtalent and expanded sales and marketing activities will also beincorporated," commented Jay Macfarland, Chief Executive Officer of ChinaHealth Care Corporation.
Market makers trading shares of China Health Care Corporation include:Domestic Securities, Inc.; Hudson Securities, Inc.; Hill, Thompson, Magidand Co., Inc.; Murphy and Durieu, L.P.; and Knight Equity Markets, L.P.
About China Health Care Corporation (CHCC)
China Health Care Corporation (CHCC), through its China operating arm knownas United Premier Medical Group (UPMG), has developed a network ofmaternal-child facilities in Greater China including Macau. The targetmarket segments of these services are the rapidly growing Chinese middleand upper classes. Founded in 2001, with a US headquarters in Dallas,Texas, CHCC has positioned itself to be a pioneer in providing premiumservices by integrating Western medical/management methodologies andEastern efficiencies. The Company's goal is to become a leader in thespecialty hospital and family-oriented, primary-care markets. For furtherinformation, please see http://www.china-healthcare.us
Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a safe harborfor forward-looking statements made by the Company or on its behalf. Thisnews release contains forward-looking statements, which are subject tocertain risks and uncertainties that can cause actual results to differmaterially from those described. These factors, and others, are discussedfrom time to time in our filings with the Securities and ExchangeCommission. Undue reliance should not be placed on these forward-lookingstatements, which speak only as of the date they are made. China HealthCare Corporation undertakes no obligation to publicly update or revisethese forward-looking statements to reflect events or circumstances afterthe date they are made.
Contact:
Company:
China Health Care Corporation
Henry Jay Macfarland
Email Contact
Chief Executive Officer
15950 North Dallas Parkway
Suite 400
Dallas, TX 75249
Tel: (972) 361-8033
Fax: (972) 361-8005
http://www.china-healthcare.us
Investor Relations:
Richard E. Cooper
Email Contact
Jennifer K. Zimmons, Ph.D.
Email Contact
Strategic Growth International, Inc.
Tel: (212) 838-1444
Fax: (212) 838-1511
www.sgi-ir.com