China Health Care Acquisition (NYSE AMEX:CHHM)

We entered into a stock purchase agreement with Europe Asia Huadu Environment Pte, Ltd., Teambest International Limited and Madame Wang Lahua (collectively “Seller”) for the purchase of all of the outstanding equity of Europe Asia Huadu Environment Pte, Ltd., a Singapore company with operations in China in the water treatment and environmental engineering industries. Effective November 10, 2008, we and the Seller mutually agreed to terminate the stock purchase agreement because our Board determined that it would not receive the votes of its stockholders required for the approval of the acquisition.

In addition, our Board of Directors (BOD) determined it was no longer possible for us to consummate a qualifying business combination prior to April 19, 2009. Based on this determination, our BOD concluded that it was in the best interests of stockholders to return to the holders of our shares acquired in our initial public offering all amounts held in the Trust Account as of the date of the distribution thereof.

China Healthcare Acquisition Corp Agrees to Terminate Agreement to Acquire Europe Asia Huadu Environment Holding Pte, Ltd.

 Source: PR Newswire (November 13, 2008)

CHM and the owner of Europe Asia Huadu Environment Holding Pte, Ltd (EAHE)  have signed a definitive stock purchase agreement for CHM to acquire all of the outstanding equity of EAHE in exchange for CHM common stock.

Through its subsidiaries in China,  EAHE manufactures water treatment equipment and provides construction and engineering services for water treatment projects in China. The transaction will provide EAHE with access to additional capital for expansion of its water treatment business. EAHE is a privately held Singapore company.

The transaction is expected to close by the end of 2008.

Source: SEC Form 8K (August 11,  2008)