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Concord Medical Services Holdings Limited (CCM) Signs MOU With Shanghai New Hongqiao International Medical Center And GE Healthcare To Establish A Medical Imaging Diagnosis Center


11/26/2013 6:58:05 AM

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Concord Medical Signs MOU with Shanghai New Hongqiao International Medical Center and GE Healthcare to Establish a Medical Imaging Diagnosis Center

BEIJING
, Nov. 26, 2013 /PRNewswire/ -- Concord Medical Services Holdings Limited ("Concord Medical" or the "Company") (NYSE: CCM), a leading specialty hospital management solution provider and operator of the largest network of radiotherapy and diagnostic imaging centers in China, today announced that it has signed a Memorandum of Understanding on Strategic Cooperation (" Strategic Cooperation MOU") with Shanghai New Hongqiao International Medical Center ("Shanghai NHQ") and GE Healthcare China ("GE") to establish an independent, high-end Medical Imaging Diagnosis Center.

Under the Strategic Cooperation MOU, CCM will collaborate with GE Healthcare China and Shanghai NHQ based on the "Public-private-partnership" or "PPP" (i.e., cooperation between government and non-state-owned participants) structure, in developing and managing the Medical Imaging Diagnosis Center within this new medical Center. The Center will provide shared imaging diagnosis services to the medical institutions located in Shanghai NHQ, introducing world-class diagnosis technology and management services concepts. Covering the Yangtze River Delta region, the most economic developed area in China and the entire country through remote tele-diagnosis platform, the Center will become the first independent, fully-licensed medical imaging diagnosis center in China not affiliated with a hospital.

Regarding the next steps to today's announcement, the three parties will jointly proceed with the related licensing and government approval, feasibility, financing and planning initiatives. The pre-construction phase is estimated to take 6-12 months.

Dr. Jianyu Yang, Chairman and CEO of Concord Medical, said, "Concord Medical has accumulated rich experience and a strong professional team in the investment and management of medical imaging diagnosis centers in China. We are very excited to participate in the NHQ International Medical Center project, partnering with GE Healthcare China, a leader in the medical imaging technology. The Shanghai NHQ project will become the first fully-licensed, independent medical imaging diagnostic center in China, providing high-quality services to the local and expatriate population. The stand-alone center model is highly expandable and replicable. We plan to introduce such centers to other markets in China as independent diagnosis and treatment centers are a critical component of CCM's future strategic initiatives."

About Shanghai New Hongqiao International Medical Center:

Shanghai New Hongqiao International Medical Center is a high-end medical services project, supported by the Ministry of Health and approved by Shanghai Municipal People's Government. The total planning area of the Medical Center is approximately 100 hectares, and the planning land area of the First Phase is 42.38 hectares. The project will focus on providing high-end medical services, attracting diversified investments from international and private sources. It will explore innovative and integrated healthcare delivery model, including medical service, technical support, managerial collaboration and supply-chain extension. The NHQ Center will attract the participation of domestic and overseas high-quality medical institutions and managerial talent, create a Shanghai-based platform radiating throughout the Yangtze River Delta and the entire country. The construction of Shanghai New Hongqiao International Medical Center was officially launched on March 30, 2012. The First Phase of the Medical Center is expected to be fully operational in 2015. For more information, please visit http://www.nhqmed.com/.

About GE Healthcare China:

GE Healthcare China manages the business of GE Healthcare in Greater China. GE Healthcare provides transformational medical technologies and services to meet the demand for increased access, enhanced quality and more affordable healthcare around the world. GE (NYSE: GE) works on things that matter - great people and technologies taking on tough challenges. From medical imaging, software & IT, patient monitoring and diagnostics to drug discovery, biopharmaceutical manufacturing technologies and performance improvement solutions, GE Healthcare helps medical professionals deliver great healthcare to their patients.

About Concord Medical

Concord Medical Services Holdings Limited operates the largest network of radiotherapy and diagnostic imaging centers in China, measured by revenues and the number of centers in operation and is the parent of Chang'an Hospital. As of September 30, 2013, the Company operated a network of 144 centers with 78 hospital partners that spanned 55 cities and 24 provinces and administrative regions in China. Under long-term arrangements with top-tier hospitals in China, Concord Medical provides radiotherapy and diagnostic imaging equipment and manages the daily operations of these centers, which are located on the premises of its hospital partners. The Company also provides ongoing training to doctors and other medical professionals in its network of centers to ensure a high level of clinical care for patients. For more information, please see http://ir.concordmedical.com.

Safe Harbor Statement

This news release may contain "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; technological or therapeutic changes affecting the field of cancer treatment and diagnostic imaging; and possible effects on consumers and hospitals, hospital construction, and suppliers, as a result of inflation and the Chinese government's policies and actions to control inflation. Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission, which are available at www.sec.gov. The Company does not assume any obligation to update any forward-looking statement, except as required by law.

For more information, please contact:

Concord Medical Services

Mr. Adam J. Sun (Chinese and English)
+86-10-5957-5266
adam.sun@concordmedical.com

Mr. Ting Jia (Chinese and English)
+86-10-5903-6688 (ext. 809)
ting.jia@concordmedical.com

Ms. Gloria Huang (Chinese and English)
+86-10-5903-6688 (ext. 639)
gloria.huang@concordmedical.com

ICR Inc.

In China:

Ms. Rene Jiang
+86 10 6583-7521
rene.jiang@icrinc.com

In the United States:

Mr. William Zima
+1 203-682-8233
William.Zima@icrinc.com

SOURCE Concord Medical Services Holdings Limited



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