Chindex finalizes big Chinese deal

January 13, 1999

Distribution service company Chindex International of Bethesda, MD, this month finalized an agreement with China's Ministry of Public Health for the purchase of $14 million of medical equipment. Initiated in July, the agreement resulted from a

Distribution service company Chindex International of Bethesda, MD, this month finalized an agreement with China's Ministry of Public Health for the purchase of $14 million of medical equipment. Initiated in July, the agreement resulted from a partnership between China's Ministry of Health Foreign Loan Office, the U.S. Department of Commerce, the U.S. Export-Import Bank, and China's Ministry of Foreign Trade and Economic Cooperation and State Planning Commission (SCAN 7/22/98).

The deal was financed through a loan to the Bank of China in Beijing from ABN AMRO Bank of the Netherlands, and the loan was guaranteed by the U.S. Export-Import Bank. The transaction represents Chindex's second loan project for U.S. medical equipment.

Vendors included in the agreement are Acuson, Lunar, Steris, Johnson & Johnson Ortho Clinical Diagnostics, Trex Medical/XRE Division, and Nova Biomedical. Shipments of the equipment began in late 1998, and will continue through the first quarter of 1999.