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Concord Medical Reports Third Quarter 2013 Financial Results and Reiterates Financial Year Guidance Forecast
Date:11/12/2013

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

Accounts receivable from the network business was RMB234.1 million ($38.3 million) as of September 30, 2013, compared to RMB209.3 million as of June 30, 2013. The average period of sales outstanding for accounts receivable, or days sales outstanding (DSO), was 154 days for the third quarter of 2013, as compared to 123 days for the second quarter of 2013.

As of September 30, 2013, the Company, excluding Chang'an Hospital, had bank credit lines of RMB2,699 million ($441.0 million), of which RMB875.6 million ($143.1 million) was utilized.

During the third quarter of 2013, the Company handled 9,522 patient treatment cases and 79,255 patient diagnostic cases in the center network, representing a 10.4% decrease and a 7.2% increase from the third 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 RMB102.9 million ($16.8 million) for the third quarter of 2013, a 12.2% increase compared to RMB91.7 million for the third quarter of 2012. Third quarter 2013 net revenue from the hospital business consisted of:

  • outpatient revenue of RMB24.3million ($4.0 million), representing 23.6% of the net revenue from the hospital business;
  • inpatient revenue of RMB34.7 million ($5.7 million), representing 33.8% of the net revenue from the hospital business; and
  • medicine revenue of RMB43.8 million ($7.2 million), representing 42.6% of the net revenue from the hospital business.
  • Cost of service for the hospital business for the third quarter of 2013 was RMB88.4 million ($14.5 million), of which the medicine cost was RMB37.3 million ($6.1 mi
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    SOURCE Concord Medical Services Holdings Limited
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