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Concord Medical Reports Fourth Quarter and Full Year 2012 Financial Results
Date:3/20/2013

of 2012.

During the fourth quarter of 2012, the Company handled 10,378 patient treatment cases, representing 16.2% increases from the fourth quarter of 2011 and 68,473 patient diagnostic cases, representing 9.5% increases from the fourth quarter of 2011.

Hospital businessNet revenues from the hospital business were RMB105.6 million ($16.9 million) for the fourth quarter of 2012.  Total medical revenues were RMB99.7 million ($15.8 million), which consisted of:

  • outpatient revenues of RMB25.0million ($4.0 million), representing 25% of the medical revenues from the hospital business;
  • inpatient revenues of RMB33.2 million ($5.3 million), representing 33% of the medical revenues from the hospital business; and
  • pharmacy revenues of 41.5 million ($6.6 million), representing 42% of the medical revenues from the hospital business.
  • Cost of service for the hospital business for the fourth quarter of 2012 was RMB91.6 million ($14.7 million).

    Gross profit margin of the hospital business was 13.2% for the fourth quarter of 2012.

    As of December 31, 2012, Chang'an Hospital had accounts receivable of RMB43.0 million ($6.9 million), representing days sales outstanding of 34 days. The accounts receivable was mainly from medical revenues covered by various government-sponsored insurance programs. Chang'an Hospital settles the balance with the local social insurance bureau on a periodic basis.

    Based on the preliminary purchasing price allocation (the "PPA") results, we have identified intangible assets as well as prepaid land lease payments valued at RMB67.3 million ($10.8 million). The intangible assets include healthcare qualification and oncology operation licenses. The resulting amortization expense in the fourth quarter of RMB2.4 million ($0.4 million) was included in Chang'an Hospital's cost of revenue and operating expenses.

    Chang'an Hospital treated 127,751 outpatients an
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    SOURCE Concord Medical Services Holdings Limited
    Copyright©2012 PR Newswire.
    All rights reserved

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