RainEarth (RNER) Signs Purchase Agreement with HangZhou Municipal No.3 People’s Hospital
Las Vegas CRWENewswire.com is pleased to announce a stock highlight on RainEarth Inc. (OTC Bulletin Board: RNER; “the Company”) announced today that the Company’s Chinese subsidiary, Beijing Rain and Earth Technology Development Corp. Ltd. (”China RainEarth”), and HangZhou Municipal No.3 People’s Hospital (”HangZhou No.3 Hospital”), entered into a Purchase Agreement (the “Agreement”) for an amount of $4,800,000 RMB (approximately $703,000USD).
About Blood Dialysis
Blood dialysis is an effective measure for patients with acute and chronic renal failure (uremia) to sustain their lives. In 2007, 7-8 million blood dialyzers were sold in China. With the rapid social and economic development as well as improvement of healthcare services, 15 million blood dialyzers are estimated to be sold in China by 2012 and the market size will hit around US$200 million. 70 million dialyzers are consumed each year in developing countries including Turkey, India, South Africa and Pakistan.
About the Company
RainEarth Inc. (formerly Gold Rock Resources Inc., the “Company”) was incorporated in the State of Nevada on March 14, 2006. The Company was a developing stage company that initially engaged in the search for mineral deposits or reserves.
On March 25, 2009, the Company and China RainEarth, a company organized and existing under the laws of the People’s Republic of China, entered into a Business Cooperation Agreement (the “Agreement”) for a term of twenty years. The purpose of the Agreement is to jointly conduct a Hollow Fiber Membrane Materials’ application and manufacturing business in China (the “Business”). The first product that utilizes this technology is blood dialyzer.
The Company will provide Advice and assistance relating to development of marketing and consultancy services, particularly as related to the Business. China RainEarth will give 60% of its revenue after deduction of direct operating costs, expenses and taxes to the Company in consideration of the Company’s services.
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