Concord Medical Regains Compliance with NYSE Minimum Price Requirement

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Concord Medical Services Holdings Limited

Aug 07, 2024, 08:30 ET

BEIJING, Aug. 7, 2024 /PRNewswire/ -- Concord Medical Services Holdings Limited ("Concord Medical" or the "Company") (NYSE: CCM), a healthcare provider specialized in cancer treatment, research, education and prevention in China, today announced that it has received a letter from the New York Stock Exchange ("NYSE") dated August 6, 2024 (the "Compliance Notice"), notifying the Company that it is no longer considered below the NYSE's continued listing criterion of a minimum average share price of US$1.00 over a 30 trading-day period (the "NYSE Minimum Price Requirement").

As previously announced, the Company received a letter from the NYSE dated February 12, 2024, notifying the Company that it was below compliance standards due to the trading price of its American Depositary Shares. Following the receipt of the Compliance Notice, the Company is no longer considered below the NYSE Minimum Price Requirement, and has regained compliance regarding this matter.

About Concord Medical

Concord Medical Services Holdings Limited is a healthcare provider featuring a full cycle of premium oncology services including cancer diagnosis, treatment, education and prevention. The Company focuses on providing multidisciplinary cancer care in all aspects of oncology healthcare services in its cancer hospitals and equipping them with technologically advanced equipment such as the state-of-the-art proton therapy system. The Company is striving to improve the quality and accessibility of cancer care through its network of self-owned cancer hospitals and clinics as well as partnered hospitals across China. For more information, please see http://ir.ccm.cn.

About Concord Healthcare

Concord Healthcare is an oncology healthcare provider in China. Concord Healthcare serves both cancer patients through self-owned medical institutions and third-party medical institutions through medical equipment, software and related services. In its self-owned medical institutions, Concord Healthcare provides a full spectrum of oncology healthcare services to cancer patients across the entire care continuum, leveraging its multidisciplinary team specialists and diagnosis and treatment capabilities featuring precision radiation therapy. Through its medical equipment, software and related services, Concord Healthcare serves a widespread network of enterprise customers, primarily hospitals, with integrated oncology-related services, including primarily sales and installing of medical equipment and software, management and technical support, and operating lease.

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 law.

SOURCE Concord Medical Services Holdings Limited