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Chindex International, Inc. Reports Fourth Quarter and Full Year Fiscal 2009 Financial Results
Date:6/11/2009

lects our team's dedication through the fiscal year as we recognized revenue for products shipped during the quarter. We also saw continued demand for high-end equipment such as daVinci during the fourth quarter. Our Medical Products division continues to be well positioned to capitalize on the increased need for high end, high margin medical products in China."

Healthcare Services division business results:

Revenue in the fourth quarter of the fiscal year 2009 was $20.2 million, an increase of 16% from $17.5 million in the prior year. Operating costs increased by 24% to $18.8 million from $15.2 million in the prior year's fourth quarter, reflecting multi-year physician contracts renewed at higher rates in calendar 2008, additional medical personnel in Beijing and Shanghai hospitals, staffing for the Guangzhou clinic opening and increased direct patient care costs. Income from operations before foreign exchange gains was $1.3 million, a 41% decrease from the $2.3 million in the prior year period.

Revenue in the fiscal year 2009 was $79.4 million, an increase of 21% from $65.8 million in the prior year. Operating costs increased 30% to $72.1 million from $55.5 million in the prior year period, reflecting higher costs referenced above. Income from operations before foreign exchange gains was $7.3 million, a 29% decrease over the $10.3 million in the prior year period. Development and startup costs, including post-opening expenses, were $2.1 million.

Lipson stated, "Hospital services revenue growth was driven primarily by increased inpatient and outpatient traffic in the Beijing and Shanghai markets. We have a clear growth plan to build out our network of hospitals and clinics and we made additional progress on our Beijing, Shanghai and Guangzhou locations during the fourth quarter. The UFH brand continues to be the leading provider of premium care in China and we believe that our long ter
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SOURCE Chindex International, Inc.
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