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Concord Medical Reports Second Quarter 2013 Financial Results
Date:8/12/2013

($0.3 million) in general and administrative expenses relating to the telemedicine and web business.

Accounts receivable from the network business was RMB209.3 million ($34.1 million) as of June 30, 2013, compared to RMB185.9 million as of March 31, 2013. The average period of sales outstanding for accounts receivable, or days sales outstanding (DSO), was 123 days for the second quarter of 2013, as compared to155 days for the first quarter of 2013. The improved DSO was mainly due to strengthened collection efforts by the Company during the quarter.

As of June 30, 2013, the Company, not including Chang'an Hospital, had bank credit lines of RMB2,286 million ($372.5 million), of which RMB926.0 million ($150.9 million) was utilized.

During the second quarter of 2013, the Company handled 8,209 patient treatment cases and 84,943 patient diagnostic cases in the center network, representing a 6.9% decrease and a 60.8% increase from the second quarter of 2012, respectively.

Hospital businessPlease note that financial results of Chang'an Hospital were consolidated into the Company's operating results effective from the third quarter of 2012 when the Company consummated its acquisition of 52% equity interest in Chang'an Hospital.

Net revenue from the hospital business was RMB108.4 million ($17.7million) for the second quarter of 2013 compared to RMB92.3 million for the first quarter of 2013. Second quarter 2013 revenue from the hospital business consisted of:

  • outpatient revenue of RMB25.8 million ($4.2 million), representing 24% of the net revenue from the hospital business;
  • inpatient revenue of RMB37.8 million ($6.2 million), representing 35% of the net revenue from the hospital business; and
  • medicine revenue of RMB44.8 million ($7.3 million), representing 41% of the net revenue from the hospital business.
  • Cost of service for the hospital business for the second quarter of 2013 was RMB90.1 million
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    SOURCE Concord Medical Services Holdings Limited
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