April 23, 2010 (FinancialWire) — Dehaier Medical Systems Ltd. (NASDAQ: DHRM), Chinese firm engaged in the development, assembly, marketing and sale of medical products, said it has closed its initial public offering of 1.5 million ordinary shares at $8 per share. The ordinary shares will begin trading on April 23 under the ticker symbol "DHRM" on the Nasdaq Capital Market.

Of the 1.5 million shares sold in the offering, all of the shares were sold by Dehaier Medical Systems.

Anderson & Strudwick, Inc. acted as the lead placement agent for the offering.

China-based Dehaier Medical Systems makes medical products including respiratory and oxygen homecare products. The company develops and assembles its own branded products from third party components. It also distributes products designed and manufactured by other companies including medical devices and respiratory and oxygen homecare products from IMD, Timesco, ResMed and JMS.

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