CHENGDU, China, Feb. 17, 2011 /PRNewswire-Asia-FirstCall/ -- China SHESAYS Medical Cosmetology Inc. (OTC Bulletin Board: CSAY) ("China SHESAYS" or the "Company"), which operates a network of specialized medical cosmetology hospitals, clinics and skincare centers in Sichuan province, China, today provides an update regarding the progress of commencing operations at its new flagship hospital in Chengdu, Sichuan province.
The second flagship hospital comprises of approximately 195,269 square feet, which China SHESAYS leases for $1.3 million per year until 2016. In February, the Company started decorating the interior of the hospital. The Company expects to complete the decoration process in early April, after which it will start to install and test medical and cosmetic equipment. The management anticipates that the new flagship hospital will commence operations before the end of June 2011.
The new flagship hospital is expected to offer a range of services, including medical cosmetology services and regular cosmetology services, serve as a platform for academic research, and offer medical cosmetology training. Once under operation, it will become one of the largest centers for cosmetology services in China.
As of December 31, 2010, the Company has expended approximately $1.4 million on the new hospital and expects to invest an additional $3.1 million on decoration and equipment in 2011. When operating at full capacity, the Company expects the new hospital to accommodate up to 100,000 patients per year, compared to 20,000 at the Company's existing flagship hospital.
"We are excited about specifying a timeline for completing our second flagship hospital, which is 5 times size of current flagship hospital, in addition to the three new clinics we opened in other cities in Sichuan province in the second half of 2010. Supported by this significant increase in scal
|SOURCE China SHESAYS Medical Cosmetology Inc.|
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