SOURCE: China Health Care Corporation

China Health Care Corporation

September 30, 2009 12:57 ET

China Health Care Corporation (CHCC) Files SEC Form 15

DALLAS, TX--(Marketwire - September 30, 2009) - China Health Care Corporation (CHCC) ("the Company") (OTCBB: CNHL) announced that the Company filed a Form 15 as notice of suspension of the duty to file periodic reports under Sections 13 and 15(d) of the Securities Exchange Act of 1934 with the Securities and Exchange Commission ("SEC") on September 29, 2009. The Company is, thereby, voluntarily suspending its reporting obligations under the Securities Exchange Act of 1934.

As a result of filing Form 15, the Company will no longer be required to file annual and quarterly reports with the SEC. The Company took this action in order to allow the new management team maximum flexibility and cost effectiveness to pursue a number of highly sensitive and profitable business opportunities within Greater China.

The Company's common stock will continue to be eligible for public trading, only now it will occur through the Pink Sheets ( quotations system (CNHL.PK) instead of the OTC Bulletin Board. The change in trading venue is to become effective shortly after the filing with the SEC; however, China Health Care Corporation will suspend all periodic report filing with the SEC, effective immediately.

"China's economy is expected to reach its 8% GDP growth target for 2009 after the amazing 9% growth in 2008 during the recent global economic challenge," stated Dr. Kenneth Lee, the new Chief Executive Officer of CHCC. "More importantly, China's State Council has announced a $124 billion stimulus package toward Chinese healthcare reform as well as encouraging private Chinese business enterprises to invest in healthcare innovations. Our extremely well connected new Executive Chairman, Mr. Cheng, and I are now focused on pursuing a number of central government encouraged business opportunities that will leverage off CHCC's years of China market tested and successful VIP Maternity & GYN Center business model."

"Our Directors voted for the voluntary suspension of filings after careful consideration of the advantages and disadvantages. Our Board of Directors expects that the added flexibility and cost effectiveness associated with a temporary 'dark period' will help the Company's ability to complete potential business transactions timely with potential strategic partner(s), clearly outweighs the benefits we received from maintaining our OTCBB status. This step will also enable management to focus more of its time and resources on strategic long-term growth, operating the Company and enhancing shareholder value," added Kenneth.

The Company plans to provide timely quarterly and annual reports pertaining to its financial performance and other announcements on its website and through the Pink Sheets Disclosure and News Service in the interim as appropriate. The Company also intends to resume its SEC reporting obligations under the Securities Exchange Act of 1934 once the timing is optimal for the continuous success of its business operations.

About China Health Care Corporation (CHCC)

China Health Care Corporation (CHCC), through its China operating arm known as United Premier Medical Group (UPMG), has developed a network of maternal-child facilities in mainland China and Macau. Services are geared towards middle and upper-class Chinese families. Founded in 2001, CHCC has positioned itself to be a pioneer in providing premium services by integrating Western know-how and Eastern efficiencies. The Company's goal is becoming a leader in the Women's Health and continuity of care family-care markets. For further information, please see http://www.China-Healthcare.US.

Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by the Company or on its behalf. This news release contains forward-looking statements, which are subject to certain risks and uncertainties that can cause actual results to differ materially from those described. These factors, and others, are discussed from time to time in our filings with the Securities and Exchange Commission. Undue reliance should not be placed on these forward-looking statements, which speak only as of the date they are made. China Health Care Corporation undertakes no obligation to publicly update or revise these forward-looking statements to reflect events or circumstances after the date they are made.