Concord Medical Purchases Additional Proton Therapy System for It's Shanghai Concord Cancer Center

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Concord Medical Services Holdings Limited

Sep 10, 2021, 07:02 ET

BEIJING, Sept. 10, 2021 /PRNewswire/ -- Concord Medical Services Holdings Limited ("Concord Medical" or the "Company") (NYSE: CCM), a healthcare provider specialized in cancer treatment, research, education, and prevention by establishing proton centers and specialty cancer hospitals and operating an extensive network of radiotherapy and diagnostic imaging centers in China, today announced that Shanghai Concord Cancer Center ("SCCC", or the "planned hospital"), a business subsidiary of an important operating platform of the Company, Meizhong Jiahe Medical Science & Technology Development Group Co., Ltd. ("Meizhong Jiahe"), has entered into an agreement (the "Agreement") with CGN Medical Technology Ltd. ("CGNMT"), a subsidiary of a China listed company, which is an exclusive rights partner of Ion Beam Applications ("IBA") in China for its Proteus Plus technology. Pursuant to the Agreement, SCCC will purchase the IBA's Proteus Plus system from CGNMT.

Situated in Shanghai New Hongqiao International Medical Center, SCCC is a premium specialty cancer hospital constructed by the Company and built in strict compliance with domestic tertiary hospital standards, the highest standards for medical institutions in China. The construction of the planned hospital was commenced in September 2017 with an estimated construction period of five years. As of the date of the Agreement, the planned hospital is still under construction. The planned hospital will cover a site area of 70 acres, with the gross floor area of 158,769 square meters and over 400 beds. The Company aims to build the planned hospital with a multi-disciplinary and standardized tumor diagnosis and treatment service system that integrates domestic and international technology and experience.

About Concord Medical

Concord Medical Services Holdings Limited is a healthcare provider specialized in cancer treatment, research, education and prevention. The Company operates a network of medically advanced comprehensive cancer hospitals and standalone radiotherapy and diagnostic imaging centres in China. The Company focuses on providing multidisciplinary cancer care approach in all areas of oncology services in its cancer hospitals. The Company also equips its hospitals with technologically advanced equipment such as the state-of-the-art proton therapy system in its premium cancer hospitals in top-tier cities including Shanghai and Guangzhou. In addition, the Company saw the opportunity of the expanding market of medical equipment in China and developed its product life-cycle management services form its existing medical equipment and consumable sales services. As of December 31, 2020, the Company operated a network of 27 radiotherapy centers and diagnostic imaging centers, which are based in 20 hospitals, established under long-term lease and management services arrangements with the Company and spanning over 20 cities across 13 provinces and administrative regions in China. To ensure the commitment to the highest standard of medical services for patients, the Company offers ongoing education and training for doctors and other medical professionals in its network hospitals and centres in both domestic and overseas medical institutions.

For more information, please see http://ir.ccm.cn.

Safe Harbor Statement

This announcement contains forward-looking statements. These forward-looking statements can be identified by words or phrases such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar expressions. Forward-looking statements are inherently subject to uncertainties and contingencies beyond the Company's control and based upon premises with respect to future business decisions, which are subject to change. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable laws.

SOURCE Concord Medical Services Holdings Limited