Concord Medical Signs Consulting Agreement with MD Anderson Cancer Center
BEIJING, May 16, 2014 /PRNewswire/ — Concord Medical Services Holdings Limited (“Concord Medical” or the “Company”) (NYSE: CCM), a leading specialty hospital management solution provider and operator of the largest network of radiotherapy and diagnostic imaging centers in China, today announced it has engaged The University of Texas MD Anderson Cancer Center (“MD Anderson”) as a consultant for its cancer hospital projects under planning in Shanghai and Beijing.
According to the agreement, MD Anderson will provide consulting services to Concord Medical with respect to the enhancement of its cancer care program for the Company’s two projects, Shanghai Concord Cancer Hospital and Beijing Concord Cancer Hospital, which will be located in Shanghai New Hongqiao International Medical Center and Beijing International Medical Center, respectively. This agreement is an arm’s-length contract at regular commercial terms.
The consulting agreement is part of Concord Medical’s collaboration with MD Anderson to bring the best practice in cancer treatment to China. Through the collaboration, MD Anderson will provide technical management and medical support to Concord Medical’s cancer hospitals. The analyses and recommendations MD Anderson provides Concord Medical will be based on MD Anderson’s unique expertise in the appropriate utilization, applicability, and suitability of various modalities in the treatment of cancer using a multi-disciplinary approach.
Concord Medical acquired 19.98% ownership of The MD Anderson Proton Therapy Center in Houston, Texas at the end of 2012.
Shanghai Concord Cancer Hospital plans to open 400 beds and adapt the domestic and internationally advanced therapeutic methods, medical process and management system. It plans to install the most advanced cancer diagnostic and treatment equipment and multidiscipline system. When completed, the hospital will become a leading cancer hospital in China and Asia.
Beijing Concord Cancer Hospital will be wholly owned by Concord Medical and will provide comprehensive cancer therapies, including surgery, chemotherapy, radiotherapy, and gene therapy to cancer patients. Concord Medical will provide management support, treatment, technology, and research to the hospital, including protocols and clinical practice guidelines, by collaborating with top-notch cancer institutions around the world. Beijing Concord Cancer Hospital will be part of Beijing International Medical Center (BIMC), a joint project initiated by Beijing municipal government, the Ministry of Health, and several other Chinese government agencies to introduce world-standard medical services to China.
Dr. Jianyu Yang, the Chairman and CEO of Concord Medical, said, “We are very pleased to have MD Anderson provide strategic consulting services for our Beijing and Shanghai hospital projects. MD Anderson is an internationally renowned cancer research, treatment, and education center and our collaboration will deliver to Concord Medical the substantial knowledge and expertise in appropriate development and operation of oncology programs for the treatment of patients.”
“MD Anderson’s mission is to eliminate cancer across the world and we welcome this opportunity to collaborate with a prestigious organization like Concord Medical to elevate the quality of cancer care in China,” said Amy Hay, MD Anderson’s Vice President of Business Development.
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 and is the parent of Chang’an Hospital. As of December 31, 2013, the Company operated a network of 144 centers with 81 hospital partners that spanned 55 cities and 25 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.
About MD Anderson
The University of Texas MD Anderson Cancer Center in Houston, Texas ranks as one of the world’s most respected centers focused on cancer patient care, research, education, and prevention. MD Anderson is one of only 41 comprehensive cancer centers designated by the National Cancer Institute (NCI). For ten of the past 12 years, including 2013, MD Anderson has ranked No. 1 in cancer care in “Best Hospitals,” a survey published annually in U.S. News & World Report. For more information, visit http://www.mdanderson.org.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute “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. In particular, the statements from management in this press release are forward-looking in nature. 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; and technological or therapeutic changes affecting the field of cancer treatment and diagnostic imaging. 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 undertake any obligation to update any forward-looking statement, except as required under applicable law.
For more information, please contact:
Mr. Adam J. Sun (Chinese and English)
+86 10 5957 5266
Mr. Ting Jia (Chinese and English)
+86 10 5957 5270
Ms. Gloria Huang (Chinese and English)
+86 10 5903 6688 (ext. 639)
Ms. Rene Jiang
+86 10 6583-7521
In the United States:
Mr. William Zima
SOURCE Concord Medical Services Holdings Limited