SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 under
the Securities Exchange Act of 1934
For the month of March 2011
Commission File Number 001-33535
China Kanghui Holdings
(Translation of Registrants Name Into English)
No.1-8 Tianshan Road, Xinbei District
Changzhou, Jiangsu Province 213022, Peoples Republic of China
(86-519) 8519-5556
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:
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If Yes is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
China Kanghui Holdings | ||
By: | /S/ JUNWEN WANG | |
Name: | Junwen Wang | |
Title: | Chief Financial Officer |
Date: March 23, 2011
China Kanghui Holdings Acquires Majority Stake in Beijing Wei Rui Li Medical Device Co., Ltd.
Transaction to Speed Entrance into Joint Reconstruction Market
CHANGZHOU, CHINA, March 23, 2011 China Kanghui Holdings (NYSE: KH) (Kanghui or the Company), a leading domestic developer, manufacturer and marketer of orthopedic implants in China, today announced that it has acquired a majority stake in Beijing Wei Rui Li Medical Device Co., Ltd. (Wei Rui Li), a provider of approved hip and knee systems in China. The Company expects to acquire 60% of Wei Rui Li. Pursuant to the share purchase agreement, the Company has the option to acquire additional equity interest in Wei Rui Li at a pre-determined price subject to the achievement of certain milestones. The transaction is expected to close by March 31, 2011, subject to all conditions set out in the share purchase agreement being satisfied.
Libo Yang, Chief Executive Officer of Kanghui commented, Todays announcement is a key component of our plan to launch a full line of reconstruction products in China and in international markets over the next three years. With this acquisition, we expect to launch our first joint implant product into the Chinese market by early 2012, which offers Kanghui another driver for future growth.
By combining our manufacturing, sales and distribution infrastructure with Wei Rui Lis proven product development capability, we believe that Kanghui and Wei Rui Li can make significant inroads in the reconstruction market in China. We expect to offer sophisticated instrumentation, affordable pricing and products specifically tailored to Asian anatomy, which we believe constitute very competitive offerings in this sector.
Chen Yu, Chief Business Officer, continued, Together with our recently established exclusive partnership with Consensus Orthopedics, we are putting the pieces in place to address this compelling and underserved market. By offering a full range of joint reconstruction products, including those that are US FDA approved, we intend to become a leader in this critical segment of the orthopedic market both in China and our international markets. Ultimately, this bolsters our ability to become the premier domestic orthopedic provider in China.
About China Kanghui Holdings
Founded in 1997, Kanghui is a leading domestic developer, manufacturer and marketer of orthopedic implants in China. The Company offers a wide array of proprietary orthopedic implant products in trauma and spine. It has an extensive network of distributors for its products in China. In addition, Kanghuis products are distributed in 27 countries. Kanghui has strong research and development capabilities, focused on developing new proprietary products, including new product lines, extensions of existing product lines and enhancements of existing products. For more information, please visit www.kanghui.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This press release contains certain forward-looking statements within the meaning of federal securities laws. All statements, other than statements of historical facts, included herein are forward-looking statements including, among other things, Kanghuis expected completion date of the proposed acquisition of Wei Rui Li, the expected time for Kanghui to launch its first joint implant product, and the effectiveness and synergy of the proposed acquisition of Wei Rui Li to strengthen the Companys product offerings and market leading positions and to improve its profits and future prospects. The expectations reflected in these forward-looking statements involve significant assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Companys actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, in addition to those results discussed in the Companys periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Contact Information
Kanghui Investor Relations Department: 646-416-6822
ICR, LLC
In the U.S.: Ashley Ammon De Simone: 1-646-277-1227
In China: Wen Lei Zheng: 86-10-6583-7510