Navigation Links
Concord Medical Services Updates Pending Acquisition of Chang'an Hospital
Date:12/28/2011

BEIJING, Dec. 28, 2011 /PRNewswire-Asia-FirstCall/ -- Concord Medical Services Holdings Limited (the "Company" or "Concord Medical") (NYSE: CCM), operator of the largest network of radiotherapy and diagnostic imaging centers in China, today updated its progress on the pending acquisition of Chang'an Hospital.

Since the third quarter of 2011, the Company has completed the following work relating to the acquisition of Chang'an Hospital:

  • Reviewed the financial and accounting records;
  • Conducted due diligence work related to the licenses and other legal documents;
  • Jointly engaged an appraisal company to conduct independent asset evaluation of the target;

The appraisal work is expected to complete during the first quarter of 2012.  Also to be completed during the quarter will be to:

  • hire a top independent international accounting firm to conduct required financial due diligence work;
  • finalize the deal structure, based on the results of the appraisal and due diligence work;
  • reach final agreement on the valuation and other deal terms;
  • seek the necessary approval from the board and shareholders of both parties.

The deal is expected to close no later than the first half of 2012. The company will continue to provide update on the transaction in the future.

About Concord Medical

Concord Medical Services Holdings Limited operates the largest network of radiotherapy and diagnostic imaging centers in China, measured by revenues and the number of centers in operation. As of September 30, 2011, the Company operated a network of 128 centers with 70 hospital partners that spanned 48 cities and 24 provinces and administrative regions in China. Under long-term arrangements with top-tier hospitals in China, Concord Medical provides radiotherapy and diagnostic imaging equipment and manages the daily operations of these centers, which are located on the premises of its hospital partners. The Company also provides ongoing training to doctors and other medical professionals in its network of centers to ensure a high level of clinical care for patients. For more information, please see http://ir.concordmedical.com.

Safe harbor statement

This news release may contain "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should," and "will" and similar expressions. These forward looking statements are based upon management's current views and expectations with respect to future events and are not a guarantee of future performance. Furthermore, these statements are, by their nature, subject to a number of risks and uncertainties that could cause actual performance and results to differ materially from those discussed in the forward-looking statements as a result of a number of factors. Such factors include the number of new radiotherapy and diagnostic imaging centers opened; the increase in the number of patients in existing centers; the establishment of specialty cancer hospitals; changes in the healthcare industry in China, including changes in the healthcare policies and regulations of the PRC government; technological or therapeutic changes affecting the field of cancer treatment and diagnostic imaging; and possible effects on consumers and hospitals, hospital construction, and suppliers, as a result of inflation and the Chinese government's policies and actions to control inflation. Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission at www.sec.gov. The Company does not assume any obligation to update any forward-looking statement, except as required by law.

For more information, please contact:

Concord Medical Services
Mr. Tony Tian (Chinese and English)
+86 10 5957 5287
tony.tian@concordmedical.com

Christensen

Ms. Teal Willingham (English and Chinese)
+86 131 2179 3446
twillingham@christensenir.com

Ms. Kimberly Minarovich (English)
+1 212 618 1978
kminarovich@christensenir.com

ir.concordmedical.com


'/>"/>
SOURCE Concord Medical Services Holdings Limited
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. New Study Shows Concord Grape Juice has a Heart-Healthy Effect not yet Reported With Red Wine
2. Champions Biotechnology and Concordia Pharmaceuticals Complete Service Agreement and Begin Preclinical Evaluation of Oncology Drugs
3. Concord Grape Juice Has No Significant Impact on Body Weight
4. Concord Medical to Report First Quarter 2010 Financial Results on Thursday, May 27, 2010
5. Concord Medical Announces New Centers Opening at Hospital Partner
6. Concord Medical Announces Share Repurchase Program
7. Concord Medical Files 2009 Annual Report on Form 20-F
8. Concord Medical Enters into Joint Venture Agreement with ChangAn Hospital
9. Concord Medical to Report Second Quarter 2010 Financial Results on Wednesday, August 18, 2010
10. Concord Medical Announces Second Quarter 2010 Financial Results
11. Concord Medical to Hold Annual General Meeting on December 11, 2010
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/10/2016)... , Feb. 9, 2016  Until recently, the ... surgery or liposuction. Thankfully, the FDA approved the non-invasive ... to death. Coolsculpting was originally approved in 2010 for ... thighs and now the chin. With this add-on approval, ... can use a smaller applicator, the CoolMini, to address ...
(Date:2/10/2016)... 2016 On Tuesday, February 9th, the ... with its Arthritis Advisory Committee to discuss ... & Johnson,s Remicade and most likely the ... U.S. The Biologics Prescribers Collaborative (BPC) along ... for Patient Access, American Association of Clinical ...
(Date:2/10/2016)... 2016 CTI BioPharma Corp. (CTI BioPharma) ... regarding the clinical studies being conducted under the ... Following the issuance of the Company,s February 8, ... issued by the U.S. Food and Drug Administration ... an oral communication from the FDA followed by ...
Breaking Medicine Technology:
(Date:2/10/2016)... ... February 10, 2016 , ... For additional information contact ... , Pioneering book "Better with Age: The Ultimate Guide to Brain Training" by award-winning ... improve memory. The book’s publication date is March 16, 2016. A free review ...
(Date:2/10/2016)... ... February 10, 2016 , ... A national ergonomics pioneer ... Expo event March 9-11, 2016. Hosted by Ohio's Bureau of Worker's Compensation, the ... the longest running and largest worker's compensation event in Ohio, organizers of the ...
(Date:2/10/2016)... West Palm Beach, Florida (PRWEB) , ... February ... ... Golf & Country Club) announced that it has been awarded the prestigious Distinguished ... of the World award program conducted by BoardRoom magazine, one of the most ...
(Date:2/10/2016)... ... February 10, 2016 , ... Everseat has ... readily available to physicians. The integration will enable Allscripts users to post ... via Everseat’s free mobile app. , The partnership gives Everseat substantial added power ...
(Date:2/10/2016)... MA (PRWEB) , ... February 10, 2016 , ... ... their revolutionary, biocompatible columns and accessories. These PEEK-lined stainless steel (PLS) columns combine ... provide a solution that ensures the integrity of biological samples while operating at ...
Breaking Medicine News(10 mins):