Concord Medical Announces New Centers Opening at Hospital Partner

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Concord Medical Services Holdings Limited

Jun 22, 2010, 06:00 ET

BEIJING, June 22 /PRNewswire-Asia-FirstCall/ -- Concord Medical Services Holdings Limited ("Concord Medical" or the "Company") (NYSE: CCM), the operator of the largest network of radiotherapy and diagnostic imaging centers in China, today announced that it will add two new centers to its extensive network by furthering its partnership with the PLA Navy General Hospital ("Navy General Hospital" or "the hospital"), located in Beijing.

Concord Medical will add two new centers to the Beijing-based Navy General Hospital's existing facilities, bringing the total number of centers under the Company's management at the hospital to seven. One of the centers will house an Image Guided Radiation Therapy (IGRT) system and the other center will house a Body Gamma Knife system. The IGRT center commenced trial operation in mid June and both centers are expected to enter into full operation in the third quarter of 2010. Prior to these new centers, Concord Medical had been managing five radiotherapy and diagnostic imaging centers at the Navy General Hospital, one of Concord Medical's earliest hospital partners. With the additional centers, the hospital will further strengthen its position to become one of the top cancer treatment facilities in China.

"We are excited to further expand our services at the Navy General Hospital with the addition of two new centers. This expansion underscores our ability to grow with our hospital partners through quality service and effective management, and puts the Navy General Hospital into one of the top cancer treatment facilities in China. In addition, furthering a longstanding partnership symbolizes recognition of the value of our services on top of our financial support to the hospital," said Dr. Jianyu Yang, director, president and chief executive officer of Concord Medical. "Concord Medical is on track to achieve our goal of operating at least 200 centers by 2012. As the industry leader with the largest network of radiotherapy and diagnostic imaging centers in China, we are committed to making cancer treatment more readily available in China and are confident that we are well positioned to benefit from a favorable market environment supported by medical reform policies and increasing consumer demand for world-class cancer treatment."

About Concord Medical

Concord Medical operates the largest network of radiotherapy and diagnostic imaging centers in China in terms of revenues and the total number of centers in operation per available statistics. The Company currently operates a network of more than 89 centers spanning 37 cities and 21 provinces and administrative regions in China. Under long-term arrangements with top- tier hospitals in China, the Company provides radiotherapy and diagnostic imaging equipments and manages the daily operations of these centers located on its hospital partners' premises. The Company also provides ongoing training to doctors and other medical personnel in its network of centers to ensure a high level of clinical care for patients.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should" and "will" and similar expressions. These forward looking statements are based upon management's current views and expectations with respect to future events and are not a guarantee of future performance. Furthermore, these statements are, by their nature, subject to a number of risks and uncertainties that could cause actual performance and results to differ materially from those discussed in the forward-looking statements as a result of a number of factors. Such factors include: the number of new radiotherapy and diagnostic imaging centers opened; the increase in the number of patients in existing centers; the establishment of specialty cancer hospitals; changes in the healthcare industry in China, including changes in the healthcare policies and regulations of the PRC government; and technological or therapeutic changes affecting the field of cancer treatment and diagnostic imaging. Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission at www.sec.gov. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    For investor and media inquiries please contact:

    China

     Stephanie Song
     Concord Medical Services
     Phone: +86-10-5957-5287
     Email: [email protected]

     Lilian Wong
     Brunswick Group, LLC
     Phone: +86-10-6566-2256
     Email: [email protected]

    U.S.

     Nicki Kahner
     Brunswick Group, LLC
     Phone: +1-212-333-3810
     Email: [email protected]

SOURCE Concord Medical Services Holdings Limited