Dehaier Launches Restructuring Process

Dehaier Medical Systems has kicked off a restructuring process that it says will help concentrate its resources on developing its mobile health business, among other activities.

The board of directors directed the company to set up a wholly owned subsidiary — Connection Wearable Health Technology — in Beijing.

CWHT will conduct wearable sleep respiratory- and mobile health- related businesses. Beijing Dehaier Medical Technology will focus on remaining medical device sales, collection of existing accounts receivable, selling off remaining inventory, the management of intellectual property assets and certification of all subsidiaries.

The company said it expects to continue scaling down and discontinuing its unprofitable medical device business, including assembly and sales of X-ray and anesthesia machines. The company plans to maintain only a few businesses, such as sales of its patented medical air compressors and cardiopulmonary resuscitation instruments. — Jonathon Shacat