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Concord Medical Announces its Successful Closing of the Acquisition of 52% Ownership in Chang'an Hospital and Provides Guidance for Financial Results of the Second Quarter of 2012
Date:6/18/2012

BEIJING, June 18, 2012 /PRNewswire-Asia-FirstCall/ -- 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, announced today that it has closed the acquisition of 52% equity ownership in Chang'an Hospital, a leading non-public general hospital located in Xi'an, Shaanxi Province.

The acquisition will help the Company become a leading hospital management group in China, with over 1000 hospital beds and 130 radiotherapy and diagnostic centers nationwide.  The Company expects to add more specialty oncology hospitals in the near future, and the Company has already submitted applications for relevant licenses for two planned hospitals which are currently under government review.

The company announced the signing of a definite agreement in connection with the acquisition of 52% equity ownership in Chang'an Hospital on March 22, 2012.  Since then, the Company has received all necessary government approvals including New Business License of Chang'an Hospital, and completed all registration procedures, including Capital Verification Report, Share Ownership Report, and Business Registration Change Report. Chang'an Hospital will convene a board meeting, at which the board will appoint the new directors selected by the Company effective as of July 1, 2012. The financial results of Chang'an Hospital will then be subject to consolidation by the company starting from the third quarter of 2012.

"The successful closing of this transaction is a significant accomplishment and an important milestone in the Company's history. It is the first step in the Company's strategic transformation into a hospital management company," said Dr. Jianyu Yang, CCM's Chairman and CEO.  "The cur
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SOURCE Concord Medical Services Holdings Limited
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