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Concord Medical Services Holdings Limited (CCM) Announces Pricing of Initial Public Offering on the New York Stock Exchange



12/11/2009 9:08:11 AM

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BEIJING, Dec. 11 /PRNewswire-Asia-FirstCall/ -- Concord Medical Services Holdings Limited (NYSE: CCM) ("CMS" or "the Company"), operator of the largest network of radiotherapy and diagnostic imaging centers in China in terms of revenues and the total number of centers in operation in 2008, announced today that its initial public offering of 12,000,000 American Depositary Shares ("ADSs"), each representing three ordinary shares of the Company, was priced at $11.00 per ADS. Net proceeds from the sale of the ADSs are approximately $119.5 million. The ADSs are expected to begin trading on the New York Stock Exchange on December 11, 2009 under the symbol "CCM."

The Company intends to use the proceeds from the offering to expand its network of radiotherapy and diagnostic imaging centers, to develop two new specialty cancer hospitals, and for general corporate purposes.

Certain of the Company's shareholders have granted the underwriters a 30-day option to purchase up to an additional 1,800,000 ADSs to cover over-allotments, if any.

Morgan Stanley & Co. International plc, J.P. Morgan Securities Inc. and China International Capital Corporation Hong Kong Securities Limited acted as joint bookrunners for the offering.

CMS's registration statement relating to these securities has been declared effective by the United States Securities and Exchange Commission (the "SEC"). This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering of these securities is made only by means of a written prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by visiting EDGAR on the SEC's web site at http://www.sec.gov ; by contacting Morgan Stanley & Co at 180 Varick Street, New York, New York 10014, attention: Prospectus Department, or by calling (866) 718 1649, or by emailing prospectus@morganstanley.com; by contacting J.P. Morgan at J.P. Morgan Securities Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by calling 1-866-803-9204; or by contacting China International Capital Corporation at 350 Park Avenue, 28th floor, New York, New York 10022, or by calling +852 2872-2000.

About Concord Medical Services Holdings Limited

CMS operates China's largest network of radiotherapy and diagnostic imaging centers in terms of revenues and the total number of centers in operation in 2008. Since its establishment, CMS has been committed to building an extensive network of radiotherapy and diagnostic imaging centers in China that employ advanced medical technology to sustain lives and reduce suffering. Today, the Company operates a network of more than 80 centers spanning 36 cities and 21 provinces and administrative regions in China.

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and 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 involve a number of risks and uncertainties that could cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Further information regarding these and other risks is included in the Company's filings with the SEC, including its registration statement on Form F-1, as amended from time to time. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

For more information, please contact:

Integrated Corporate Relations, Inc. In New York: Ashley M. Ammon Tel: +1-646-277-1227

In Beijing: Michael Tieu Tel: +86-10-6599-7968 Email: IR@cmsholdings.com

SOURCE Concord Medical Services Holdings Limited


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