NeoStem ($NBS) Broadens Footprint in China with New Agreement
Yesterday, NeoStem, Inc. (AMEX:NBS, StockTwits: $NBS) announced that it has expanded its presence in China. The Company reported that an affiliated entity has entered into an agreement with Tianjin Nankai Hospital in the People’s Republic of China to offer NeoStem’s licensed adult stem cell treatments for orthopedic conditions. NeoStem currently has other licensing agreements in place which provide therapies for arthritis and orthopedic conditions in various areas of China.
This new agreement represents further opportunity for NeoStem as Tianjin is an international corporate hotspot that is home to more than 14 million people and over 400 hospitals. The Tianjin Nankai Hospital:
- has approximately 1,100 patient beds.
- has nearly 90 orthopedic-dedicated beds.
- is expanding with a new building which will boost the orthopedic bed count to approximately 1,000.
Dr. Robin L. Smith, Chairman and CEO of NeoStem, commented,
"We are very excited about our new relationship with Tianjin Nankai Hospital, another large Chinese hospital to grow revenues from mature adult stem cell-based treatments."
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