Concord Medical Establishes Healthcare Fund with Zhongrong International Trust Co., Ltd.
Concord Medical Services Holdings Limited
January 17, 2017
BEIJING -- 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, announced that it has set up a healthcare fund with Zhongrong International Trust Co., Ltd. ("ZRT").
The Company signed a framework agreement with ZRT to set up Zhongrong Taihe Healthcare Fund in October 2016. The total amount of the fund is RMB1.003 billion (US$150.229 million). General partners of the fund are Beijing Concord Medical Technology Ltd, a subsidiary of Concord Medical, and Zhongrong Guofu Investment Management Co., Ltd, a subsidiary of ZRT. ZRT is a financial institution approved by the China Banking Regulatory Commission. ZRT's investment covers real estate sector, securities, industrial and commercial enterprises, infrastructure sector, and has diversified transaction models, such as equity investment, trust loans, equity income and property management.
China has a huge market for cancer diagnosis and treatment. In 2015, the number of new cancer cases in China was 4.29 million, and 2.81 million patients died of cancers. The Company believes the establishment of the fund will provide strong capital support for the development of the Company and solidify the Company's leading position in the cancer diagnosis and treatment field in China.
About Concord Medical
Concord Medical Services Holdings Limited is a leading specialty hospital management solution provider and operator of the largest network of radiotherapy and diagnostic imaging centers in China. As of June 30, 2016, the Company operated a network of 123 centers with 73 hospital partners that spanned 52 cities and 25 provinces and administrative regions in China. Under long-term arrangements with top-tier hospitals in China, the Company 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. As part of its high-end cancer hospital development strategy and oversea business extension, the Company acquired Concord Cancer Hospital, a private hospital in Singapore in April, 2015.
For more information, please contact:
Concord Medical Services
Mr. Mike Hao Cheng (Chinese and English)
+86 10 5903 6688 (ext. 609)
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