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

($14.7 million), of which the medicine cost was RMB38.5 million ($6.3 million) and the medical service cost was RMB51.6 million ($8.4 million).

Gross profit margin of the hospital business was 16.9% for the second quarter of 2013, a sequential improvement of 640 basis points from 10.5% in the first quarter of 2013. The improved gross margin was mainly due to increased contribution from the outpatient and inpatient business during the quarter.

Capital expenditure of the hospital business was RMB13.3 million ($2.2 million) for the second quarter of 2013, compared with RMB9.8 million in the first quarter of 2013.

General and administrative expenses in the hospital business were RMB6.2 million ($1.0 million), compared with RMB4.6 million in the first quarter of 2013.

As of June 30, 2013, Chang'an Hospital had accounts receivable of RMB38.1 million ($6.2 million), representing days sales outstanding of 29 days, as compared to 36 days for the first quarter of 2013.

Chang'an Hospital received 151,265 outpatients and 8,164 inpatients for the second quarter of 2013. The average bed utilization for the quarter was 93.4%. The average days of hospital stay was 10.2 days per patient for the quarter. Chang'an Hospital operated 1,015 beds as of June 30, 2013.

Chang'an Hospital is a leading private-owned, general service, for-profit hospital, located in Xi'an, Shanxi Province. Established in 2002, Chang'an Hospital had 57 departments with over 1,267 medical and non-medical staff as of June 30, 2013.

Share repurchase programDuring the second quarter of 2013, the Company repurchased $0.05 million worth of stock, comprised of 12,524 ADSs, representing 37,572 ordinary shares.

Through June 30, 2013, the Company repurchased 2,306,332 ADSs, representing 6,918,996 ordinary shares, in the open market, for a total consideration of $8.12 million (including commissions) under the share repurchase program announced on October 9, 2012. '/>"/>

SOURCE Concord Medical Services Holdings Limited
Copyright©2012 PR Newswire.
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