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Concord Medical Announces Higher Revenues, Net income, and Earnings per ADS for the Second Quarter 2011
Date:8/16/2011

nostic cases, representing an increase of 0.7% and 17.4%, respectively, from the second quarter 2010.

Dr. Jianyu Yang, Director, President, and Chief Executive Officer of Concord Medical, commented, "We delivered a quarter of solid financial growth, in both revenues and net income, mainly due to higher patient volumes at existing centers, the contribution from centers added since last year, and the results from the Chang'an CMS International Cancer Center ("CCICC").

"We established six new centers in the first half of this year, which were fewer than we expected, mainly due to delays in hospital construction by our partners and in deliveries of gamma knife equipment by our suppliers. We remain committed to executing our long-term strategy to develop new radiotherapy and diagnostic imaging centers with hospital partners, increase utilization and efficiency at our existing centers, establish new specialty hospitals and stand-alone centers, and pursue prudent acquisitions.

"In summary, we are pleased that our operations continued to perform well in the second quarter. Although it is likely that we will open fewer centers in 2011 than the 25 to 30 centers that we had previously expected, our revenue outlook for the year 2011 remains unchanged, given our solid growth in the first half of 2011 and our anticipated volume growth and additional centers in the second half."

Other developmentsIn July, the Board of Directors declared a special dividend of $0.18 per American depositary share to provide shareholders with a tangible recognition of Concord Medical's growth and financial performance since its initial public offering in December 2009. The dividend is payable on September 30, 2011 to shareholders of record at the close of business on August 31, 2011.

The acquisition of the Chang'an Hospital is still pending the conclusion of the due diligence and the required government approval.

Second quarter 2011 resultsNet reven
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SOURCE Concord Medical Services Holdings Limited
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