Asset Purchase Agreement (Translated Version)
Exhibit 10.16
Asset Purchase Agreement
(Translated Version)
Party A: Xxxx Xxxxx An Tai Plasma Collection Co., Ltd (Yang Gu Plasma Company)
Party B: Yang Gu County Plasma Collection Station
According to Ministry of Health and the 9 other ministries and commissions jointly issued notice (Xxx Xx Fa (2006) No. 118) regarding <Measure on the Transformation of Plasma Collection Station (Lu Xxx Xx Zi (206) No.68)>, and the approval document issued by Shandong Health Department regarding <Agreement on Shandong Missile Biological Co Ltd to acquire plasma collection station in Shandong Province>, both parties has mutually agreed to enter into a plasma station assets transfer contract for the benefit of the Provincial development on plasma products and health industry, for the stability of personnel and for the long term development of plasma collection station.
1. Party B agrees to transfer the whole asset of plasma station to Party A at one time. The transfer price will be RMB 4,581,000 based on the valuation report carried out by Xxxx Xxxxx Jinshi Certified Public Accountants Ltd.
2. Party A agrees to remit the amount to the account designated by Party B within seven days of signing this Agreement.
3. Party A shall use the transferred assets for operation of plasma collection business. In order for Party A to operate the plasma collection business, Party B shall execute the assets transfer procedure within 15 days after receiving transfer proceed from Party A. Party B shall assist Party A to transfer or obtain necessary license under the name of Party A.
4. The land leased by Party B shall be used by Party A continuously.
5. Party A agrees to retain all Party B’s management and workers, and guarantee no adverse adjustment on the wages and benefit. With further development of Plasma Company, Party A agreed to implement corporate governance and shall comply with relevant labor law to sign employment contract and responsible for social insurance.
6. Party A shall manage the station strictly in accordance with the requirement of "Regulation of Plasma Products", "GMP", and "Basic Standard of Plasma Collection Station" issued by State Council and ensure the health and safety of the plasma donors, plasma quality and the lawful operation of the station.
7. To guarantee stable transition and normal operation of plasma operations, Party A shall continue to appoint the current management team.
8. Party A shall willingly accept the supervision and administration of the local health administrative department. Party B shall coordinate the affairs with local government departments at all levels and seek the support and help from them.
9. Party B shall be responsible to obtain various preferential terms based on the investment policy from the local government.
10. Parties hereto may solve matters not mentioned herein through negotiation.
11. This agreement shall effective on the day when signed and chopped by legal representative of both Parties.
12. Each party shall hold one set of the agreement.
Party A: Xxxx Xxxxx An Tai Plasma Collection Co., Ltd
Party B: Yang Gu County Plasma Collection Station
November 3, 2006
