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Concord Medical Reports Third Quarter 2011 Financial Results
Date:11/14/2011

  • During the third quarter 2011, the Company handled 8,941 patient treatment cases and 49,988 patient diagnostic cases, representing an increase of 5.7% and 42.6%, respectively, from the third quarter 2010.

  • Dr. Jianyu Yang, Director, President, and Chief Executive Officer of Concord Medical, said, "We delivered a strong quarter of solid financial growth, in both revenues and net income, as a result of higher patient volumes at existing centers and centers we have added since September 30, 2010.

    "We have established 9 new centers in the first three quarters of this year and we expect to add more centers in the fourth quarter.

    "Our long-term strategy is to develop new radiotherapy and diagnostic imaging centers with hospital partners, to increase utilization and efficiency at existing centers, to establish new specialty hospitals and stand-alone centers, and to pursue prudent strategic acquisitions. We believe our long-term strategy has been working well and should continue to add value for our shareholders.

    "Given our good results for the first nine months, we are maintaining our revenue outlook for 2011."

    Recent DevelopmentsActing CFO Appointment -- On September 1, 2011, Mr. Adam Jigang Sun was appointed as Acting Chief Financial Officer. Mr. Adam Sun oversees the Company's finance and reporting functions, as well as assists in managing the Company's network expansion and strategic acquisitions.

    Mr. Adam Sun has more than 10 years of experience in finance and management. He received a M.B.A. degree from The University of Chicago Booth School of Business in 1998 and a Bachelor of Arts degree in English from China Foreign Affairs College in 1990.

    Mr. Steve Sun, who had been our Chief Financial Officer, continues to serve as Co-chairman of the Board of Directors (the "Board") and is focusing on leading the Company's network expansion and strategic acquisitions,
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    SOURCE Concord Medical Services Holdings Limited
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