Navigation Links
Concord Medical Announces the Signing of US$50 Million IFC Loan Agreement
Date:5/15/2013

BEIJING, May 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 the Company has signed a US$50 million loan package agreement with IFC (International Financial Corporation), the member of the World Bank Group focused on private sector development in emerging markets.

The loan package consists of 1) a $30 million 8-year loan with a variable interest rate of Libor + 4.5%, and 2) a $20 million 5-year convertible bond with a variable interest rate of Libor +3.75% and a conversion price of $6.90 per ADS. The convertible bonds can be converted at lender's discretion, in whole or in part during the term of the loan. Disbursement of the loan proceeds to Concord is subject to various conditions. Subject to satisfaction of these conditions and disbursement of the loan proceeds, the company will use IFC's $50 million loan for the development of 50 new radiotherapy centers over the next 3 years at county level and the development of a proton beam therapy hospital in Beijing and an oncology hospital in Guangzhou, Guangdong province.

"We would like to welcome IFC as our strategic partner in China," Dr. Jianyu Yang , the Chairman and CEO of Concord Medical said. "Concord Medical will use the IFC loan to expand our network of radiotherapy centers in China as well as to build the planned specialty hospitals in Beijing and Guangzhou. These are crucial components of our corporate growth strategy to create a nationwide network of oncology centers and specialty hospitals, providing high-quality radiotherapy services to all of our patients in China."

"IFC is partnering with leading private sector players like Concord Medical to make health care services more accessible and affordable in China and other developing countries," said Karin Finkelston , IFC's vice president for Asia Pacific. "Delivering quality health care increases life expectancy and decreases the loss of labor, thereby supporting economic growth and improving people's lives."

About IFC

IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world's most pressing development challenges. For more information, visit www.ifc.org.

 About Concord Medical

Concord Medical Services Holdings Limited operates the largest network of radiotherapy and diagnostic imaging centers in China, measured by revenues and the number of centers in operation. As of December 31, 2012, the Company operated a network of 136 centers with 76 hospital partners that spanned 53 cities and 24 provinces and administrative regions in China. Under long-term arrangements with top-tier hospitals in China, Concord Medical provides radiotherapy and diagnostic imaging equipment and manages the daily operations of these centers, which are located on the premises of its hospital partners. The Company also provides ongoing training to doctors and other medical professionals in its network of centers to ensure a high level of clinical care for patients. For more information, please see http://ir.concordmedical.com.

Investor and Media Contacts:

Concord Medical Services

Mr. Adam J. Sun
adam.sun@concordmedical.com
(+86) 10 5957-5266

Ms. Gloria Huang
gloria.huang@concordmedical.com
(+86) 10 5903-6688 (ext. 639)

Solebury Communications

In China:
Ms. Vickie Zhao
CCM@soleburyir.com
(+86) 10 6563-0288 (ext.801)

In the United States:
Mr. Richard Zubek
rzubek@soleburyir.com
(+1) 203-428-3230


'/>"/>
SOURCE Concord Medical Services Holdings Limited
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Concord Medical Announces its Successful Closing of the Acquisition of 52% Ownership in Changan Hospital and Provides Guidance for Financial Results of the Second Quarter of 2012
2. CyberKnife System and the da Vinci Surgical System in Concord Medical Centers Achieve Over RMB 10 Million in Medical Revenue Since Opening in February
3. Concord Medicals Changan Hospital and Fox Chase Cancer Center Sign Strategic Alliance Agreement
4. Concordia Study Indicates Obesity is Becoming the Nations Top Health Issue
5. Concord Medical to Report Second Quarter 2012 Financial Results on August 20, 2012
6. Concord Medical Reports Second Quarter 2012 Financial Results
7. Concord Medical Responds to Unusual Market Activity in its Stock
8. Concord Medical to Report Third Quarter 2012 Financial Results on November 21, 2012
9. Concord Medical Announces Change to Third Quarter Financial Results Date to November 20, 2012
10. Concord Medical Reports Third Quarter 2012 Financial Results
11. Concord Medical to Hold Annual General Meeting on December 22, 2012
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/18/2017)... 17, 2017  Bayer announced today that the latest ... presented at the 53 rd Annual Meeting of ... June 2-6 in Chicago . ... prostate, colorectal, liver and thyroid cancers, as well as ... II CHRONOS-1 trial of copanlisib in patients with relapsed ...
(Date:5/15/2017)... Inc., a privately-held CNS pharmaceutical company based in ... disease (PD), has enrolled the first patient in the RASMET ... study involving patients with PD and taking place at 12 ... period. The first stage is open label and involves single ... Denver , Boca Raton ...
(Date:5/11/2017)... 11, 2017  Thornhill Research Inc. ( ... an $8,049,024 USD five-year, firm-fixed-priced, indefinite-quantity/indefinite-delivery contract by ... Commercial Corporation (CCC) ( Ottawa, Ontario, Canada ... administer general anesthesia to patients requiring emergency medical ... US Marine Corps have been a longtime partner ...
Breaking Medicine Technology:
(Date:5/26/2017)... ... May 26, 2017 , ... Somnoware, a leading provider of ... with its Somnoware Sleep Device Interface (SDI). Somnoware SDI is a sleep device ... this platform, initializing devices and importing studies are just one-click operations. This plugin ...
(Date:5/26/2017)... ... May 26, 2017 , ... ... is sharing bold recipes for Memorial Day entertaining that are sure to satisfy ... “Boar’s Head fresh sliced meats and cheeses featured in these refreshingly balanced recipes ...
(Date:5/26/2017)... BOSTON, MA (PRWEB) , ... May 26, 2017 , ... ... Care Act (AHCA), which narrowly passed the U.S. House on May 4, would result ... would be expected under continued implementation of the 2010 Patient Protection and Affordable Care ...
(Date:5/26/2017)... ... May 26, 2017 , ... Yisrayl Hawkins, Pastor and Overseer ... week that is focusing on the Peace Agreements being discussed by President Donald Trump ... in a race to try to speed up peace talks in the continuous battle ...
(Date:5/26/2017)... ... ... Rob Lowe acts as host and helps educate and inform the public using ... Viewers can reconnect with America as it explores some of the best places to ... for an inventive new place for a family vacation, and have discovered hiking. Many ...
Breaking Medicine News(10 mins):