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Meridian Co., Ltd. Acquires Korean Medical Products Distributing Company 10/21/05 SEOUL, Korea, Oct 21, 2005 (PRIMEZONE via COMTEX) --
Meridian Co., Ltd. (Meridian) (OTCBB:MRDAF) today announced that it has acquired 100 percent of the issued and outstanding shares of Rapha & Health Co., Ltd., a Korean-based distributor of medical device products.
Terms of the deal included a one-time cash payment of 50,000,000 Korean Won. As a wholly owned subsidiary of the company, Rapha & Health Co., Ltd. will become an exclusive distributor of all Meridian's products for the Korean market. The company's separate wholly owned subsidiary, Meridian Medical Inc. of Vancouver, will maintain the exclusive right to distribute Meridian Co., Ltd. products throughout North America.
Additionally, Rapha & Health Co., Ltd. will enter into a joint partnership with HealthTech Valley Co., Ltd., for the exclusive distribution of Meridian's latest commercially launched product, Lipo-laser.
The patented Lipo-laser's non-invasive treatment is considered one of the most innovative methods to liquefy adipose tissue. The demand for this type of treatment is expected to grow rapidly not only in the plastic surgery profession, but in any clinical setting that treats obesity such as spas and wellness centers.
Rapha & Health Co., Ltd. will be managed by its President and CEO, Ms. Hyeon-Sook Yoon, currently heading the sales management team of Meridian Co., Ltd. In addition to Hyeon-Sook Yoon, the Board of Directors will comprise Sang-Woo Yoon and Ki-Yeul Lee, both of whom are part of the overall management team with Meridian Co., Ltd.
Posts: 205 | From: ca | Registered: Aug 2005
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