Under the terms of the agreement, CBCG will purchase up to US $5 million in units of the Chinese version of the MedMaster(TM) suite in order to retain exclusive distribution rights to China.
We believe that the MedMaster(TM) suite of clinical applications, with its highly efficient support tools, will help Chinese clinicians analyze clinical data more efficiently, as well as enhance cost-of-care evaluation, quality-of-care monitoring, and real-time control of the medical enterprise, with the ultimate goal of cost reduction and provision of quality healthcare to the Chinese population at large," said Vu Le, MD, President and CEO of CBCG.
By combining their extensive experience in the Chinese-speaking IT industry with their knowledge of marketing, CBCG can greatly reduce the time-to-market for the enterprise version of MedMaster(TM) suite of clinical applications in China.
The Central bank's function of the lender of last resort has been established and upon the CBCG
, the Government's liquidity support to banks has been enabled, thus improving the framework for resolving problems in distressed banks.