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Concord Medical Announces Acquisition of Its Shares by CEO and COO from Other Shareholders
Date:8/15/2013

BEIJING, Aug. 15, 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 and the parent of Chang'an Hospital, today announced that it has been informed that Mr. Jianyu Yang, the Company's Chairman and CEO, Mr. Zheng Cheng, the Company's director, President and COO, and certain other shareholders have entered into certain share purchase agreements (the "Share Purchase Agreements"). The Company understands that pursuant to the Share Purchase Agreements, Mr. Yang and Mr. Cheng have agreed to establish a company under the laws of the British Virgin Islands as the purchaser and cause the purchaser to acquire an aggregate of 37,064,808 ordinary shares and 4,660,976 American Depository Shares, each representing three ordinary shares of the Company, from certain other shareholders for a purchase price of US$6.10 per American Depositary Share, with an aggregate purchase price of US$103,797,063.21. The completion of the transactions contemplated by the Share Purchase Agreements is subject to the satisfaction of customary conditions, including the purchaser's receipt of sufficient funds from third-party financing sources as required in the applicable Share Purchase Agreements. It is currently expected that, upon the closing of such acquisition, the aggregate beneficial ownership of Mr. Yang and Mr. Cheng in the Company will increase to approximately 48.0%.

The purchaser has filed a Schedule 13D today with the SEC which can be accessed via www.sec.gov.

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SOURCE Concord Medical Services Holdings Limited
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