Home Art funding Concord Medical Completes RMB 400 Million Funding Round Led by Consortium Investors

Concord Medical Completes RMB 400 Million Funding Round Led by Consortium Investors

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BEIJING, 23 Aug 2021 / PRNewswire / – Concord Medical Services Holdings Limited (“Concord Medical” or the “Company”) (NYSE: CCM), a healthcare provider specializing in cancer treatment, research, education and prevention in establishing proton centers and cancer hospitals and operating an extensive network of radiotherapy and diagnostic imaging centers in China, an investment of RMB400.0 million (US $ 62.2 million) in Concord Medical subsidiary, Meizhong Jiahe Medical Science & Technology Development Group Co., Ltd. (“Meizhong Jiahe”) from several investors led by WisdoMont Asset Management (Shanghai) Co., Ltd. (“WisdoMont Capital”), a renowned investment institution and one of the existing shareholders of Meizhong Jiahe.

As the most important operating platform of Concord Medical, Meizhong Jiahe focuses on the development and management of comprehensive cancer hospitals and stand-alone radiotherapy and diagnostic imaging centers in China. Meizhong Jiahe is committed to providing high quality, patient-centered multidisciplinary cancer care services to its patients. In addition, Meizhong Jiahe provides the advanced proton therapy treatment option in the Beijing, Shanghai and Canton cancer hospitals. Meizhong Jiahe is committed to becoming the premier provider of cancer medical services for patients of China helping to treat cancerous diseases by offering internationally recognized clinical research, a multidisciplinary approach to care and advanced hospital management systems.

“Concord Medical quickly developed a leading position in the large and rapidly growing market of China for cancer treatment, ”said Mr. Yue Yu, CEO and co-founder of WisdoMont Capital. “What the Concord Medical team has developed over the past few years is truly impressive, and we are delighted to have the opportunity to work with its highly specialized management team to create a market leader. Concord Medical is a prime example of the type of founder-led, capital-efficient business in which we would like to invest. “

About Concord Medical

Concord Medical Services Holdings Limited is a healthcare provider specializing in cancer treatment, research, education and prevention. The Company operates a network of clinically advanced comprehensive cancer hospitals and stand-alone radiotherapy and diagnostic imaging centers in China. The Company is focused on providing a multidisciplinary approach to cancer care in all areas of oncology services in its cancer hospitals. The Company also equips its hospitals with state-of-the-art equipment, such as the state-of-the-art proton therapy system in its high-end cancer hospitals located in major cities such as Shanghai and Canton. In addition, the Company saw the opportunity of the expanding medical equipment market by China and developed its product lifecycle management services from its existing medical equipment and consumables sales services. As of December 31, 2020, the Company operated a network of 27 radiotherapy centers and diagnostic imaging centers, based in 20 hospitals, established under long-term lease and management services agreements with the Company and covering more than 20 cities in 13 provinces and administrative regions of China. To ensure commitment to the highest standards of medical services for patients, the Company offers continuous education and training to physicians and other health care professionals in its hospitals and network centers in domestic and foreign medical institutions. For more information, please see http://ir.ccm.cn.

Safe Harbor Declaration

This announcement contains forward-looking statements. These forward-looking statements may be identified by words or expressions such as “will”, “expects”, “foresees”, “the future”, “intention”, “plans”, “believes”, “ esteem ”and similar expressions. Forward-looking statements are inherently subject to uncertainties and contingencies beyond the control of the Company and based on premises regarding future business decisions, which are subject to change. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. The Company does not undertake any obligation to update any forward-looking statement, except as required by applicable law.

SOURCE Concord Medical Services Holdings Limited

Related links

www.concordmedical.com/cn