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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 Ch
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SOURCE Concord Medical Services Holdings Limited
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