Concord Medical Services Holdin (NYSE:CCM)

BEIJING, March 11, 2020 /PRNewswire/ -- Concord Medical Services Holdings Limited ("Concord Medical" or the "Company") (NYSE: CCM), a healthcare provider specializing in cancer care, research, education and prevention by operating a network of medically advanced comprehensive cancer hospitals and standalone radiotherapy and diagnostic imaging centers in China, today announced that CITIC Industrial Investment Group Limited, a renowned investment institution, will make an investment in Concord Medical's subsidiary, Meizhong Jiahe Hospital Management Group Co., Ltd. ("Meizhong Jiahe"), subject to the satisfaction of closing conditions pursuant to an agreement entered into between the parties. The total investment will be approximately RMB700 million.

As the most important operating platform of Concord Medical in China, Meizhong Jiahe is focusing on the development and management of comprehensive cancer hospitals and the standalone radiotherapy and diagnostic imaging center network in China. Meizhong Jiahe is committed to provide its patients with high-quality patient-centered multidisciplinary cancer care services. In addition, Meizhong Jiahe provides the cutting-edge Proton therapy treatment option in the Company's Beijing, Shanghai and Guangzhou cancer hospitals. Meizhong Jiahe is dedicated to become a premier cancer medical services provider for the patients in China by helping to eradicate the cancer diseases by offering international recognized clinical research, multidisciplinary treatment care approach and advanced hospital management systems.

Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, commented, "We are excited and honored to have such a strong partner to make a significant investment in Meizhong Jiahe, which can support the opening of our Guangzhou Cancer Hospital this year and the operation of our other medical institutions. We are very confident that Meizhong Jiahe will continue to take this opportunity to invest in the healthcare industry in China and to introduce more state-of-the art medical technologies to our hospitals. We also believe that Meizhong Jiahe will offer the high-quality clinical outcomes and the world-class cancer care services to our patients."

BEIJING, Dec. 19, 2018 /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, announced a topping out ceremony of Guangzhou Concord Cancer Center (the "Center") has been held at the construction site of the project.

The Center has a construction area of 100,000 square meters, with 400 beds planned for two phases. The design of the Center is jointly completed by HKS, an internationally renowned American architectural design firm with a rich experience in hospital design, and Shanghai Architectural Design and Research Institute, which has proton center design experience in China. The construction started in February 2017 and the hospital is expected to be in full operation in early 2020.

As one of the core projects of life and health in Sino-Singapore Guangzhou Knowledge City, the Center will be positioned as a "five in one" medical institution, integrating the clinical diagnosis and treatment, prevention, scientific research, training and remote consultation. The hospital will have complete cancer comprehensive diagnosis, treatment and adjuvant treatment department and will be equipped with Varian ProBeam multi-room proton therapy system, multiple linear accelerators, Da Vinci surgical robots and other high-end medical equipment. The construction of the Center in Guangzhou allows the Chinese cancer patients to enjoy the advanced cancer diagnosis and treatment technology without the need to going abroad.

BEIJING, Aug. 29, 2018 /PRNewswire/ -- Concord Medical Services Holdings Limited ("Concord Medical" or the "Company") (NYSE: CCM), a leading cancer hospital operations management solutions provider and operator of a network of radiotherapy and diagnostic imaging centers in China, today announced its unaudited consolidated financial results for the six months ended June 30, 2018[1].

2018 First Half Highlights

Total net revenue was RMB105.1 million ($15.9 million) in the first half of 2018, representing a 49.0% decrease from total net revenue of RMB206.2 million in the same period last year. Total net revenue included net revenue from the network business of RMB79.4 million ($12.0 million) and net revenue from the hospital business of RMB25.7 million ($3.9 million).

Gross profit was RMB23.9 million ($3.6 million) in the first half of 2018, representing a 66.5% decrease from RMB71.3 million in the first half of 2017. The gross profit margin for the first half of 2018 was 22.8%, compared to 34.6% for the same period last year.

Net loss attributable to ordinary shareholders in the first half of 2018 was RMB128.1 million ($19.4 million), compared to RMB101.8 million in the same period last year.

Both basic and diluted loss per American Depositary Share ("ADS")[2] in the first half of 2018 were both RMB2.95 ($0.45), compared to RMB2.34 in the same period last year.

Non-GAAP net loss in the first half of 2018 was RMB121.5 million ($18.4 million), compared to non-GAAP net loss of RMB100.1 million in the same period last year. Non-GAAP basic and diluted loss per ADS in the first half of 2018 were both RMB2.81 ($0.42).

Adjusted EBITDA[3] (non-GAAP) was negative RMB73.3 million ($11.1 million) in the first half of 2018, compared to negative RMB3.9 million in the same period last year.

Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, commented, "Changes in the policies regarding the hospital partners have further led to the closure of our centers, which put pressure on our operating income in the first half of 2018 and presented us with challenges. Nevertheless, our network business still has new demands. Within the past six months, we developed new centers with reliable partners in suitable locations, including the co-established cooperative radiotherapy center at PKU Healthcare Zibo Hospital and the comprehensive management cooperative center for the departments of radiotherapy and nuclear medicine at PKU International Hospital. Based on our extensive experiences in radiotherapy and imaging diagnosis over years, we believe our network business would continue to provide Chinese cancer patients with high-quality diagnosis and treatment services."

"Although the revenue from the network business shrinks, our self-operating independent cancer hospital business is steadily growing and developing. The revenue from the hospital business in the first half of 2018 had a year-on-year increase of 160%, while its percentage of the Company's total revenue increased from 5% last year to 25% this year."

"The cumulative number of patient visits within the first half of 2018 at our independent cancer center in Shanghai had a good increase, compared with the number of the first half of 2017. Shanghai Concord Cancer Center is an outpatient department that integrates imaging diagnosis, radiotherapy, chemotherapy, and targeted therapy. At present this center has started to develop joint consultation with MD Anderson Cancer Center in the United States and our Concord International Hospital in Singapore, offering international diagnosis and treatment plans for patients with certain demands."

"The revenue of the Concord International Hospital in Singapore in the first half of 2018 had a dramatical increase of 118%, compared with that of the same period in the last year, while the net loss had also decreased by 41%, compared with that in last year. As for operational data, the number of patients visits in surgery, radiotherapy, and internal medicine has been improved in Concord International Hospital in Singapore. Among them, the number of surgical patient visits was 359 in the first half of 2018, a 122% increase from 162 in the first half of 2017."

"In general, 2018 is the start of a full upgrade of the Company's business. Our new business mode that is focusing on self-established and operating cancer hospitals is steadily growing and developing, which relieves the influence of adverse impacts on one hand, and lays a solid foundation for our future development on the other. We have high hopes and firmly believe that we can provide good-quality and efficient medical services for more cancer patients in the future."

BEIJING, Apr 3, 2018 /PRNewswire/ -- Concord Medical Services Holdings Limited ("Concord Medical" or the "Company") (CCM), a leading specialty hospital management solutions provider and operator of a network of radiotherapy and diagnostic imaging centers in China, today announced that investment institutions led by CICC Capital Management Company Limited ("CICC Capital"), a wholly-owned subsidiary of China International Capital Corporation Limited ("CICC"), will make a strategic investment in Concord Medical's subsidiary, Beijing Meizhong Jiahe Hospital Management Co., Ltd. ("Meizhong Jiahe"). The total investment will be RMB 1.5 to 1.8 billion. After completion of the investment, the total shares held by these institutions led by CICC Capital will account for 37.5% to 41.9% of the equity interests of Meizhong Jiahe.

As the most important operating platform of Concord Medical in China, Meizhong Jiahe has been committed to investing in the operation of cancer diagnosis and treatment centers nationwide. It has developed into a nationwide hospital management group and a network of independent specialty cancer hospitals located in Beijing, Shanghai and Guangzhou, with an emphasis on high-end specialty cancer hospitals, including secondary specialty cancer hospitals and proton therapy treatment. With the aim of ensuring technical training, promoting medical quality and strengthening hospital management, Meizhong Jiahe will provide high-quality medical services for patients.  Meizhong Jiahe is committed to becoming a top brand for Chinese specialty cancer hospitals by introducing international frontier medical research results, multidisciplinary treatment models and hospital management concepts.

Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, commented, "As CICC Capital is one of the most influential investment institutions in China with a strong state-owned background, we are excited and honored to have such a strong strategic partner to make a significant investment in Meizhong Jiahe. This is also an important milestone in the overall strategic development of Concord Medical. This strategic investment will provide strong financial support for Meizhong Jiahe and its operations in China. We strongly believe that Meizhong Jiahe will take this opportunity to invest more firmly in the medical industry, focus on the Chinese healthcare market and provide the latest international advanced technologies. We also believe that Meizhong Jiahe offers best-in-class clinical outcomes and caring services to our patients."

BEIJING, March 26, 2018 /PRNewswire/ -- Concord Medical Services Holdings Limited ("Concord Medical" or the "Company") (CCM), a leading specialty hospital management solution provider and operator of the largest network of radiotherapy and diagnostic imaging centers in China, today announced that Shanghai Concord Medical Imaging Diagnostic Center ("Imaging Center"), the first independent imaging diagnostic center of Concord Medical, obtained an independent imaging diagnostic license.

Shanghai Concord Medical Imaging Diagnostic Center is an independent imaging diagnostic center jointly established by Concord Medical and GE Healthcare, located in Shanghai New Hongqiao International Medical Center ("Medical Center"). The equipment in the Imaging Center consists of GE's latest high-end products, and the quantity of equipment will gradually increase according to the amount of image inspections in the Medical Center. The Imaging Center is expected to introduce world-class diagnostic technology and management services, cover the Medical Center and the Yangtze River Delta region through a remote sharing consultation platform, and provide a full range of imaging diagnosis and high-quality services for domestic and foreign commercial insurance patients. The Imaging Center is expected to officially open before the end of 2018.

Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, commented, "I am pleased that our first independent imaging diagnostic center, Shanghai Concord Medical Imaging Diagnostic Center, obtained an independent imaging diagnostic license after years of efforts. In the future, I hope artificial intelligence can be utilized in the Imaging Center to do early screening of cancer. The establishment of the Imaging Center is an important milestone in the overall strategic development of Concord Medical and is also in line with the direction of national healthcare reform, keeping pace with times. I believe that the Imaging Center will help more patients with world-class diagnostic technology."

Third Quarter 2017 Financial Results

• Reported revenue of $154.6 million, compared to $185.5 million for the same period in 2016 and $160.8 million for the second quarter of 2017.
• Loss Per share Basic and Diluted was $1.36 vs last years loss of $1.47.

BEIJING, Aug. 24, 2016 /PRNewswire/ -- Concord Medical Services Holdings Limited ("Concord Medical" or the "Company") (CCM), a leading specialty hospital management solution provider and operator of the largest network of radiotherapy and diagnostic imaging centers in China, today announced its unaudited consolidated financial results for the six months ended June 30, 2016[1].

2016 First Half Highlights

Total net revenues were RMB254.6 million ($38.3 million) in the first half of 2016, a 21.7% decrease from total net revenues of RMB325.2 million in the same period last year. Total net revenues included net revenue from the network business of RMB246.7 million ($37.1 million) and net revenue from Concord Cancer Hospital of RMB8.0 million ($1.2 million).
Gross profit was RMB101.6 million ($15.3 million), representing a 33.9% decrease from RMB153.6 million in the first half of 2015. The gross profit margin for the first half of 2016 was 39.9%, compared to 47.2% for the same period last year.
Net loss attributable to ordinary shareholders in the first half of 2016 was RMB50.4 million ($7.6 million), which consisted of net loss of RMB32.2 million in the first quarter and RMB18.2 million in the second quarter of 2016, compared to net income of RMB65.1 million in the same period last year.
Both basic and diluted loss per American Depositary Share ("ADS")[2] in the first half of 2016 were RMB1.15 ($0.17), compared to basic and diluted profit per ADS of RMB1.45 and RMB1.44, respectively, in the same period last year.
Non-GAAP net loss in the first half of 2016 was RMB50.0 million ($7.5 million), compared to non-GAAP net income of RMB69.1 million in the same period last year. Non-GAAP basic and diluted loss per ADS in the first half of 2016 were both RMB1.12 ($0.16).
Adjusted EBITDA[3] (non-GAAP) was RMB68.6 million ($10.3 million) in the first half of 2016, representing a 49.1% decrease from RMB134.8 million in the same period last year.
Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, commented, "Due to the uncertainties in the regulatory environment and closure of cooperative centers, our revenue and profit were still under pressure during the second quarter of 2016. However, we are glad to see our initiatives in cutting the cost and administrative expenses of cooperative centers are paying off and the net loss has apparently decreased in the second quarter compared to the first quarter of this year."

"During the second quarter, we have made great effort in improving the oncology services provided by our Concord Cancer Hospital in Singapore. We kept upgrading the hospital under the guidance of MD Anderson Cancer Center, a linear accelerator is promised to be set up and more initiatives in immunotherapy have been developed to help more patients from Southeast Asia and mainland China."

"The first cancer hospital under our Meizhongjiahe brand, Datong Meizhongjiahe Cancer Hospital, was opened preliminarily in May. Equipped with MRI and advanced linear accelerator, the 100-bed high-end hospital will provide advanced imaging diagnosis and radiotherapy to patients in Datong and nearby cities in Shanxi Province. Also, the pace of developing the Meizhongjiahe network of wholly-owned specialty cancer hospitals and imaging diagnosis centers around China was accelerated. Our next step is to expand the Meizhongjiahe network in second-tier and third-tier cities, where there is a strong patient demand for advanced cancer diagnosis and treatments but there is a lack of resources and services. As part of the Company's comprehensive development strategy, the hospitals in Meizhongjiahe brand will join our planned premium hospitals in Beijing, Shanghai and Guangzhou to expand the Company's domestic coverage."

BEIJING, July 11, 2016 /PRNewswire/ -- Concord Medical Services Holdings Limited ("Concord Medical" or the "Company") (CCM), a leading specialty hospital management solution provider and operator of the largest network of radiotherapy and diagnostic imaging centers in China, today announced that its board of directors (the "Board") has received a non-binding proposal letter, dated July 11, 2016, from Mr. Jianyu Yang, chairman and chief executive officer of the Company, Morgancreek Investment Holdings Limited, an investment vehicle controlled by Mr. Yang ("Morgancreek"), and Blue Ocean Management Limited ("Blue Ocean", together with Mr. Yang and Morgancreek, the "Buyer Parties"), pursuant to which the Buyer Parties propose to acquire all of the outstanding Class A ordinary shares and American depositary shares (the "ADSs", each representing three Class A ordinary shares) of the Company, in both cases, that are not beneficially owned by the Buyer Parties and their affiliates, at a price of US$1.73 per Class A ordinary share or US$5.19 per ADS, as the case may be, in cash, in a "going private" transaction (the "Proposed Transaction"), subject to certain conditions.

According to the proposal letter, the Proposed Transaction is intended to be financed with debt or equity capital or a combination thereof. Also according to the proposal letter, on July 11, 2016, Morgancreek entered into share purchase agreements with certain Carlyle entities and Solar Honor Limited to acquire an aggregate of 27,249,675 Class A ordinary shares for a purchase price of US$1.73 per Class A ordinary share. The proposal letter also proposes that the Proposed Transaction may be effected by way of short-form merger pursuant to Section 233(7) of the Companies Law of the Cayman Islands. Furthermore, the proposal letter specifies that the Buyer Parties' proposal constitutes only a preliminary indication of interest, and is subject to negotiation and execution of definitive agreements relating to the Proposed Transaction. A copy of the proposal letter is attached hereto as Exhibit A.

Consistent with its fiduciary duties, the Board, in consultation with its legal and financial advisors, will carefully review the proposal from the Buyer Parties to determine the course of action that it believes is in the best interests of the Company's shareholders.

The Board cautions the Company's shareholders and others considering trading in its securities that the Board has just received the proposal letter and has not had an opportunity to carefully review and evaluate the proposal or make any decision with respect to the Company's response to the Proposed Transaction. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated.

First Quarter of 2016 Financial Results

• Total net revenues were RMB125.0 million ($19.4 million) in the first quarter of 2016, a 17.1% decrease from net revenues from the network business of RMB150.7 million in the first quarter of 2015. Total net revenues include net revenue from the network business of RMB121.6 million ($18.9 million) and net revenue from Concord Cancer Hospital of RMB3.4 million ($0.5 million).
• Non-GAAP net loss for the first quarter of 2016 was RMB30.2 million ($4.7 million), compared to non-GAAP net income of RMB30.5 million for the first quarter of 2015. Non-GAAP basic and diluted loss per ADS in the first quarter of 2016 was RMB0.67 ($0.11) and RMB0.67 ($0.11), respectively.

Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, commented, "During the first quarter of 2016, our revenue and profit were under pressure due to the closure of cooperative centers and uncertainties in the regulatory environment.  During the past quarter, our Concord Cancer Hospital in Singapore has received patients from China to receive the latest immunotherapy.  Based on the inquiries we have received, we expect that the number of patients from China will see steady growth for the rest of the year.

"Also, we have accelerated the pace to open and operate our Meizhongjiahe network of specialty cancer hospitals. The first cancer hospital under the Meizhongjiahe brand, Datong Meizhongjiahe Cancer Hospital, was opened preliminarily on May 19th.

"Since receiving approvals from the government in October 2014, we have engaged in developing our first wholly-owned, Level-II specialty domestic cancer hospital in Datong, Shanxi Province. Equipped with advanced linear accelerator and MRI, the 100-bed hospital will provide advanced treatment including imaging diagnosis and radiotherapy to local patients.

"It is an important step for our broad strategy of building a nationwide free-standing cancer treatment and diagnosis centers chain under the brand 'Meizhongjiahe.'  Our next step is to expand the Meizhongjiahe network by establishing specialty cancer hospitals in cities such as Wuxi, Hangzhou, Taizhou, and Nanchang. There is strong patient demand in Tier II and Tier III cities in China for advanced cancer diagnosis and treatments, and we see their challenge as ours. As part of the company's comprehensive development strategy, the network of Meizhongjiahe will join our planned premium hospitals in Beijing, Shanghai, and Guangzhou to advance the company's domestic coverage."

BEIJING, May 20, 2016 /PRNewswire/ -- Concord Medical Services Holdings Limited ("Concord Medical" or the "Company") (CCM), a leading specialty hospital management solution provider and operator of the largest network of radiotherapy and diagnostic imaging centers in China, today announced the preliminary opening of its wholly-owned Datong Meizhongjiahe Cancer Hospital ( "Datong Hospital").

The company received relevant government approvals to establish Datong Hospital in October 2014. Located in Datong, Shanxi Province, the 100-bed hospital was registered as Level-II specialty cancer hospital with mandatory departments including radiation, imaging, test laboratory, inpatient, and nursing. This hospital will apply to join the local social insurance coverage. The hospital is equipped with the advanced radiotherapy and diagnostic imaging equipment, including linear accelerator and MRI.

Dr. Jianyu Yang, Chairman and CEO of Concord Medical, commented, "We are very pleased to celebrate the transformative milestone in the history of Concord Medical. This first wholly-owned domestic cancer hospital in China is an important step of our broad strategy to build a nationwide chain of free-standing cancer treatment and diagnosis centers under the brand "Meizhongjiahe" in the future. Currently we are expanding in the domestic market to establish specialty cancer hospitals in cities such as Wuxi, Hangzhou, Taizhou, and Nanchang. Through our Meizhongjiahe network, we are committed to provide advanced, best-practice diagnostic and treatments for patients in Tier II and Tier III cities, where there is strong patient demand but limited oncology medical services. Being an essential part of our expansion plan, Meizhongjiahe network will be complementary to our high-end hospitals in Tier I cities.

Currently, the healthcare reform has touched upon many historically challenging issues, such as multi-location practice for doctors and equipment licensing to private hospitals. We will capitalize on this growing opportunity and rely on our excellent doctor resources as well as strong medical network to contribute to the improvement of overall level of cancer treatment and diagnosis in China, generating long-term and stable returns for our shareholders."

Fourth Quarter 2015 Financial Results

• Total net revenues decreased by 18.7% from RMB160.3 million in the fourth quarter of 2014 to RMB135.1 million ($20.9 million) in the fourth quarter of 2015, including net revenue from network business of RMB130.4 million ($20.1 million) and net revenue from hospital business of RMB4.7 million ($0.7 million).
• Basic and diluted loss per American Depositary Share ("ADS")^[2] in the fourth quarter of 2015 were RMB3.74 ($0.58) and RMB3.74($0.58), respectively, compared to basic and diluted profit per ADS of RMB0.64 and RMB0.64 in the fourth quarter of 2014.

Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, commented, "The year of 2015 was crucial for the Company's strategic transformation. During the last year, we had laid a solid foundation for continuous sustainable and stable development by acquiring Concord Cancer Hospital in Singapore, optimizing its operative segments and medical processes through working closely with our strategic partner, MD Anderson Cancer Center ("MDACC"). In 2016, well prepared to receive a large number of high-end patients from mainland China, Concord Cancer Hospital will provide world-class integrated cancer treatment, including the utilization of the advanced immunotherapy and targeted drugs, to our high-end patients. The comprehensive cooperation between Concord Cancer Hospital and MDACC will satisfy the needs of Chinese patients for the highest level of medical expertise.

Since 2012, Chinese government has published a series of policies to facilitate medical reform by encouraging social capital to invest in the medical industry and form a diversified industrial landscape. Accordingly, we have been undertaking our strategic transformation since 2013 by transforming the cooperative centers with public hospitals into self-owned centers, taking advantage of our talent pool and years of experience to build our own brand, Meizhong Jiahe Cancer Center. We plan to build the Meizhong Jiahe brand into the largest radiotherapy chain throughout the country, providing high quality medical services featuring imaging diagnosis and radiotherapy. Meanwhile, we will establish a sophisticated quality control system to improve the cure rate of radiotherapy and the life quality of patients. Datong Meizhong Jiahe Cancer Center will launch its grand opening and start to treat patients at the end of April 2016. It will become our first free-standing center in the Concord Medical network and set a milestone for the Company's strategic transformation.

In order to fully reflect our asset value, we announced the listing of our subsidiary, Meizhong Jiahe Hospital Management Corp. Ltd. ("Meizhong Jiahe" or "MHM") on the New Third Board in China in the second half of last year, and officially received approval to become a listed company on the New Third Board the over-the-counter (OTC) stock exchange in China, in January 2016. In the first quarter of 2016, Meizhong Jiahe announced to undertake asset restructuring and to launch a private placement. The funds raised in such private placement will be used for its acquisition and construction of cancer centers.

Cancer is now a major challenge to the health of the Chinese people. According to the report released by the National Cancer Center, new cancer patients in China reached 4.29 million in 2015 with 2.8 million deaths from cancer. As a member of the healthcare and medical industry, we have felt the responsibility to make a contribution to the fight against cancer in China.

Healthcare and medical industry will become a real "sunrise industry" in China. We intend to capitalize on this growing opportunity and take full advantage of favorable government policies. Providing the advanced treatment technology and medical process, as well as the humanistic care, we will contribute to the improvement of overall cancer treatment and diagnosis in China, while also generating long term, stable returns for our shareholders at the same time."

BEIJING, Dec. 11, 2015 /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 that on December 11, 2015, its Board of Directors declared a special cash dividend ofUS$0.33 per ordinary share (or US$0.99 per American Depositary Share ("ADS")) on the Company's outstanding ordinary shares. The total expense for the special dividend is expected to be approximately US$44.5 million, based on 134,799,243 ordinary shares outstanding as of September 30, 2015. Each ADS represents three ordinary shares of the Company.

The dividends are payable on or about January 30, 2016, to shareholders of record at the close of business on December 28, 2015. The ex-dividend date is expected to be on December 23, 2015.

Dr. Jianyu Yang, Chairman and CEO of the Company, commented, "We are pleased that the Board of Directors declared this special dividend, which demonstrates our strong financial position. Concord Medical is well positioned to maintain its leadership position in the fast-growing healthcare services sector and establish a leading cancer hospitals network in China. The special dividend, together with our share buyback program during the year, continues to reflect our commitment to increasing shareholder value and our confidence in the company's future."

• Total net revenue increased by 7.7% from RMB143.2 million in the third quarter of 2014 to RMB154.3 million ($24.3 million) in the third quarter of 2015, including net revenue from the network business of RMB148.5 million ($23.4 million) and net revenue from Concord Cancer Hospital (formerly known as Fortis Surgical Hospital) of RMB5.8 million ($0.9 million).
• Basic and diluted earnings per American Depositary Share ("ADS")^[2] in the third quarter of 2015 were RMB0.50 ($0.08) andRMB0.49($0.08), respectively, compared with RMB0.77 and RMB0.72 in the third quarter of 2014.

Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, commented, "During the third quarter of 2015, we achieved several important strategic milestones. First, we actively expanded our free-standing radiotherapy and diagnostic centers inChina. The first free-standing radiotherapy center, Datong Meizhong Jiahe Cancer Hospital is at the final stage of equipment installation and internal decoration. It is expected to open and receive and treat patients by early 2016. We also have a strong pipeline of free-standing centers which will open to patients gradually. We are very glad to see that our strategic transformation is making solid progress. Secondly, Concord Cancer Hospital has received the approval from Singapore Ministry of Health to operate under the new name and will provide oncology as its main service, including medical oncology and surgical oncology. Our team is currently working with The University of Texas MD Anderson Cancer Center ("MDACC") to install the medical protocol and hire a qualified medical team to be in compliance with MDACC standards. We expect to see patient inflow improvement in 2016. Finally, Concord Medical has acquired an additional equity interest in the management company of MDACC Proton Therapy Center ("MDACC PTC") and become the majority shareholder of the management company of MDACC PTC. As a result, the company also acquired an additional interest in the MDACC Proton Therapy Center.

Additionally, the Company plans to list its indirectly wholly-owned subsidiary, CMS Hospital Management Co., Ltd, on the National Equities Exchange and Quotations ("NEEQ") in China, which is also known as the New Third Board in China. This is an effort to fully unlock the value in our business. We have submitted the listing application to the NEEQ and we expect the listing to be approved by the end of 2015.

Looking forward, Concord Medical is making concrete progress to establish a leading cancer hospitals network in China. Our premium cancer hospitals in Beijing, Shanghai and Guangzhou are all expected to start construction in 2016. Once completed, these hospitals are expected to become prime destinations for cancer treatment and diagnostics and our patients are expected to receive MDACC-standard Multiple Disciplinary Treatment ("MDT"). "

• Total net revenue increased by 8.5% to RMB174.5 million ($28.2 million) in the second quarter of 2015, including net revenue from the network business of RMB166.3 million ($26.8 million) and net revenue from the Fortis Surgical Hospital of RMB8.2 million ($1.3 million).
• Both basic and diluted earnings per American Depositary Share ("ADS") ^[2] in the second quarter of 2015 were RMB0.81 ($0.13), compared with RMB0.78 in the second quarter of 2014

Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, commented, "During the second quarter of 2015, we have achieved several important strategic goals.  First, the revenue from the network business increased 3.4% to RMB166.3 million compared to the same period last year. We expect ongoing strong operating cash flow from our network business to support the expansion of our planned hospital projects. Second, we have successfully integrated Fortis Surgical Hospital in Singapore into our operations. Their financial results were consolidated into our financial results the second quarter.

Thirdly, we have strengthened our strategic partnership with MD Anderson Cancer Center (MDACC) by acquiring additional ownership in the MDACC Proton Therapy Center (MDACC PTCH) in August 2015.  Concord Medical has become the controlling shareholder of the management company of MDACC PTCH.  We aim to assist MDACC and MCACC PTCH to expand their business and market reach in China, the fastest growing healthcare market in the world.  Concord Medical plans to build and operate multiple proton centers in China. This transaction will help Concord Medical to consolidate its leadership position in the radiotherapy industry and to build an exchange platform for academics and doctors in both China and the U.S.

Additionally, in order to take advantage of the current capital market enthusiasm for healthcare companies and in an effort to fully unleash the value in our business, the Company has decided to seek listing of its wholly owned subsidiary Beijing Concord Hospital Management Co., Ltd on the National Equities Exchange and Quotations ("NEEQ") in China, also known as the New Third Board in China. The goal is to maximize returns to the current shareholders.  Beijing Concord Hospital Management Co. Ltd focuses on providing management services to the Company's existing network centers and the secondary hospitals projects in the future."

BEIJING, August 12, 2015 /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 that it has closed the acquisition of additional ownership interest of The University of Texas MD Anderson Cancer Center ("MD Anderson") Proton Therapy Center ("MD Anderson Proton Therapy Center" ). The purchase price of the all-cash transaction was not disclosed. Concord Medical purchased the interest from an existing owner of the general partner, and the transaction does not affect MD Anderson's majority ownership in the Proton Therapy Center.

With the closing, Concord Medical is now the controlling shareholder of PTC-Houston Management, LP (PTCHM), the general partner of the center, and will consolidate its financial results beginning in Q3 of 2015. Concord Medical will remain the second largest shareholder of the MD Anderson Proton Therapy Center, with MD Anderson retaining its 51% majority interest. PTCHM has appointed Concord Medical's Adam Sun as Chairman of its Board of Directors. In addition, Concord will appoint one new academic member to the center's Advisory Committee.

Concord Medical acquired 19.98% of indirect ownership of MD Anderson Proton Therapy Center in December 2012.

"We're very excited to strengthen our partnership with MD Anderson Proton Therapy Center, one of the leading proton treatment centers in the world," says Dr. Jianyu Yang, Concord Medical Chairman and CEO. "We will continue to directly assist PTCHM and MD Anderson to expand its business and market reach in China, the fastest growing healthcare market in the world."

"China has the largest potential market for advancing proton beam therapy treatment to patients in need throughout the country. Concord Medical plans to build and operate multiple proton centers in China. This transaction will help Concord Medical consolidate its leadership position in the radiotherapy industry and build an exchange platform for academics and clinical expertise with physicians in China, the U.S. and abroad."

Dan Fontaine, Executive Chief of Staff at MD Anderson says, "We welcome this opportunity to expand our strong relationship with Concord Medical. Together, we will continue build upon the clinical expertise and high quality programs provided by our faculty and staff which have positioned our Proton Therapy Center as the leader in the field of radiation oncology."

"Concord Medical has been a valuable & strategic partner with PTCH since 2012," said John Styles, Jr., CEO and Manager of the center. "We look forward to working closely with Concord Medical's team to expand our presence and benefit more patients in China. Our partnership is dedicated to assisting MD Anderson in achieving its goal of 'Making Cancer History'."

Opened in 2006, MD Anderson Proton Therapy Center was the fourth proton treatment center in the U.S. Since it's opening, the center has treated more than 6,000 patients, accounting for 15% of the total number of patients who received proton treatment nationally.

Wilson Sonsini Goodrich & Rosati represented Concord Medical as its legal advisor in the acquisition.

BEIJING, August 10, 2015 /PRNewswire/ -- Concord Medical Services Holdings Limited ("CCM," "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 that its board of directors approved a share repurchase program, effective immediately.

Under the program, and subject to applicable United States federal securities laws, Concord Medical is authorized to repurchase up to $20 million of its outstanding American depositary shares ("ADSs") from time to time for cash in open market transactions or by other means as long as the price per ADS is no more than $8.00, depending on market conditions and other factors. The program will be in force till September 30, 2016 and will be funded with the Company's available working capital.

First Quarter 2015 Financial Results

• Total net revenues were RMB150.7 million ($24.3 million) in the first quarter of 2015, a 5.7% increase from net revenues from the network business of RMB142.6 million in the first quarter of 2014.
• Basic and diluted earnings per American Depositary Share ("ADS")^[2] in the first quarter of 2015 were RMB0.68 ($0.11) and RMB0.68 ($0.11), respectively, compared with RMB0.59 and RMB0.58 in the first quarter of 2014.

Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, commented, "We are pleased to start 2015 with healthy growth in our radiotherapy and diagnostic imaging center business in the first quarter. We have been gradually broadening our services and growing from a network operator into a specialty hospital management company. We expect the network business to provide steady growth and sustainable cash inflow to our operations while we continue to develop our other initiatives."

"During the quarter, we continued to make progress with our hospital construction in Shanghai, Guangzhou and Datong, and expanded our high-end hospital practice to Singapore through an acquisition. With our long-term collaboration agreement with MD Anderson, we can provide advanced clinical and treatment services to cancer patients in China and Singapore. Our collaboration with MDA is a unique model in China's healthcare industry, and is designed to bring further innovation to the industry in the years to come."

Dr. Yang concluded, "Our goal is to become a leading medical group in China with a focus on specialized cancer hospitals, designed to introduce international-level cancer treatment and diagnostic equipment as well as advanced hospital management experience and training system of medical personnel to China. The healthcare market in China remains a promising industry with many addressable opportunities. We intend to capitalize on this growing opportunity and take full advantage of favorable government policy and support to contribute to overall cancer treatment and diagnosis while also generating long-term stable returns for our shareholders."

BEIJING, May 6, 2015 /PRNewswire/ -- Concord Medical Services Holdings Limited ("CCM" 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 today that it has signed a multi-year strategic development agreement with The University of Texas MD Anderson Cancer Center ("MD Anderson"), an internationally renowned cancer research, treatment and education center. CCM and MD Anderson will collaborate to develop a multidisciplinary cancer care, subspecialized and research-driven oncology program and state-of-art oncology facilities to optimize patient experience and improve cancer care in China and Singapore.

MD Anderson will provide CCM with strategic counsel and programmatic services to support the development and implementation of a multidisciplinary oncology program with emphasis on clinical quality, patient safety, training and education, as well as research and development programs. The agreement, which is the first of its kind for MD Anderson in Asia, will be an exclusive collaboration at CCM's new cancer facilities in Shanghai and Beijing, and the collaboration exclusivity will cover most of the provinces in China, and in Singapore. The organizations will also work collaboratively as CCM develops a new cancer hospital in Guangzhou, China.

In the future, CCM's cancer hospitals in China and Singapore will pursue to qualify for MD Anderson Cancer Network's Associate membership program, a co-branded clinical care, research and delivery partnership, which includes clinical integration with MD Anderson.

"We are very pleased to enter into a comprehensive, exclusive collaboration with M.D. Anderson," commented Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical. "M.D. Anderson, one of the leading cancer hospitals in the U.S., represents the highest standard in cancer treatment and diagnosis. We intend to work together with MDACC's clinical and management teams to introduce MDACC's multidisciplinary treatment and other advanced methodologies, treatment regimens, academic achievements as well as advanced technologies for the benefit of patients in China and Singapore. We also intend to cooperate in research related to high incidence oncology diseases in China, as well as provide international training standards to doctors and research personnel." concluded Dr. Yang.

"There is a significant gap in the quality of treatment and care to cancer patients between the U.S. and China. Through our collaboration with MD Anderson, Concord Medical will continue to enhance its overall standard of care to cancer patients in China," Dr. Yang said.

"Collaboration is vital to realizing our mission of eliminating cancer worldwide. We're pleased to expand our long-standing relationship with Concord Medical and help develop a multidisciplinary, research-driven oncology program," said Dan Fontaine, MD Anderson's Executive Chief of Staff. "Together, we'll work to fight cancer across China and Singapore."

BEIJING, March 27, 2015 /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 the signing of a purchase agreement under which Concord Medical Services (International) Pte Ltd, a wholly owned subsidiary of the Company, agreed to acquire the Fortis Surgical Hospital from Fortis Healthcare International Pte Ltd, a subsidiary of Fortis Healthcare Ltd (Fortis). The acquisition will be a 100% cash transaction, for a consideration of SGD55 million (USD39.8 million*), and has been approved by the Boards of both parties. Concord Medical expects to close the deal on or about April 6^th, 2015.

Fortis Surgical Hospital is a private facility in Singapore that is established in July 2012, currently with 31 bed patient capacity. Fortis Surgical Hospital (FSH) specializes in minimally invasive procedures and offers the full spectrum of clinical interventions including laparoscopic and robot-assisted surgeries. Close to 100 robot-assisted surgical procedures have so far been successfully performed at the hospital. The acquisition of Fortis Surgical Hospital (FSH) brings together the expertise of renowned surgeons in the delivery of advanced surgical procedures in colorectal, urology, gynecology, plastic and general Surgeries.

After the acquisition, CCM will start the application to Singapore's Ministry of Health (MOH) to change the FSH name into Singapore Concord Cancer Hospital, and to add more medical specialties (e.g. oncology, cardiology, respiratory, dermatology, renal medicine, endocrinology radiotherapy, and robot-assisted surgery).

"We are very pleased to welcome Singapore Concord Cancer Hospital to the CCM family," Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, commented. "After the completion of the acquisition, Singapore Concord Cancer Hospital will be integrated into CCM's hospital network and extension of oversees business. We plan to build Singapore Concord Cancer Hospital into a platform for high-end medical treatment institution that include academic research and cooperation for the Singapore patients as well as for patients coming from China, who currently are seeking overseas treatment."

"The acquisition is part of our high-end cancer hospital development strategy. Singapore Concord Cancer Hospital will be complementary with the hospitals we are currently building in Shanghai, Guangzhou, and Beijing. We will cooperate with the international top cancer hospital to provide treatment which is synchronous with the international latest technology at any time in this hospital, meeting the needs of high-end patients in Asia."

Note:

* Translation of Singapore dollar amount into U.S. dollar amount is made at a rate of SGD1.3823 to US$1.00, the effective noon buying rate as of March 20, 2015, as set forth in the H.10 statistical release of the U.S. Federal Reserve Board.

Fourth Quarter 2014 Financial Results

• Total net revenues from the network business were RMB160.3 million ($25.8 million) in the fourth quarter of 2014, an 8.3% decrease from RMB174.8 million in the fourth quarter of 2013.
• Non-GAAP net income for the fourth quarter of 2014 increased 133.0% to RMB33.1 million ($5.3 million), compared to RMB14.2 million for the fourth quarter of 2013. Both non-GAAP basic and diluted earnings per ADS in the fourth quarter of 2014 were RMB0.74($0.12)

Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, commented, "We are pleased to have met our full year earnings per ADS guidance and completed 2014 with strong financial results and significant operational accomplishments. Our performance was augmented by rising rates of cancer incidence and increased healthcare spending levels in China and from our internal efforts to improve operational efficiency and cost controls."

"In December 2014, after careful analysis, we fully divested Chang'an Hospital and CCICC from our group to focus on our core strategy of building a nationwide network of diagnosis and treatment centers and specialized cancer hospitals. The transaction was closed on the end of the year, providing Concord Medical with proceeds of approximately $64.8 million, which we are using to fund the construction of our current projects and to improve our financial position."

Dr. Yang concluded, "Looking ahead, we expect 2015 to be another year of important accomplishments for Concord Medical. We expect to open our first specialized cancer hospital in Datong in the first half of 2015. This will be a state-of-the-art oncology facility once complete. We also expect our hospitals in Guangzhou and Shanghai to also break ground in 2015."

BEIJING, January 31, 2015 /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 that a special resolution was adopted by the Company's shareholders at its annual general meeting for the fiscal year ended December 31, 2014 held in Beijing on January 27, 2015 to create a super voting class of shares.

By this special resolution, the Company's shareholders adopted a Fourth Amended and Restated Memorandum and Articles of Association (the "Amended M&A") which incorporates amendments to the Company's authorized share capital. Upon the special resolution being passed by the shareholders, (i) each share issued and outstanding immediately prior to the adoption of the Amended M&A was re-designated as a Class A Ordinary Share; and (ii) a new class of convertible shares was created (the "Class B Ordinary Shares", and together with Class A Ordinary Shares, the "Shares"). The Amended M&A provides that each Class B Ordinary Share entitles the holder thereof to 10 votes on any ordinary resolution or special resolution.

Under the Amended M&A, all of the issued and outstanding Class B Ordinary Shares shall automatically convert into Class A Ordinary Shares, at a ratio of one Class A Ordinary Share for each Class B Ordinary Share, in the event that the total number of issued and outstanding Class B Ordinary Shares is less than 5% of the total number of Shares issued and outstanding. In addition, any Class B Ordinary Share that is sold, transferred, assigned or disposed of by a registered holder or beneficial owner of such Class B Ordinary Share to any person who is not (i) the registered holder or beneficial owner of Class B Ordinary Shares or (ii) an affiliate of the registered holder or beneficial owner of such Class B Ordinary Share being transferred, assigned or disposed of, such Class B Ordinary Share shall automatically convert into one Class A Ordinary Share upon the completion of such transfer, assignment or disposition. In all other respects, the Class B Ordinary Shares have the same rights and restrictions as the Class A Ordinary Shares.

BEIJING, December 16, 2014 /PRNewswire/ -- Concord Medical Services Holdings Limited ("Concord Medical" or the "Company") (NYSE: CCM), an operator of specialty cancer hospitals and the largest network of radiotherapy and diagnostic imaging centers in China, today announced that the Company has, through its subsidiaries, entered into a definitive agreement to sell 52% equity interest in Chang'an Hospital to the owner of the 48% equity, for a total consideration of RMB398 million (US$64.8 million, or $1=RMB 6.1376). The consideration also includes the sale of ownership interests in Chang'An CMS International Cancer Center ("CCICC"), a specialized cancer diagnosis and treatment center established between Concord Medical and Chang'an Hospital in July 2010. This 100% cash transaction has been approved by the boards of directors of both parties. The closing of this transaction is subject to relevant government approvals and is expected to be completed by the end of 2014. Concord's Board believes the transaction price reflects fair market value for Chang'an Hospital based on valuation report by an independent third-party appraisal company engaged by the Company.

After the closing of this transaction, the Company will continue to cooperate with Chang'an Hospital on hospital management, oncology department and talent training. Both sides have agreed to hold discussions on future collaboration and to sign collaborative agreements in the future.

"Our divestment of Chang'an Hospital allows Concord to more fully concentrate on our efforts to build a nationwide network of diagnosis and treatment centers and specialized cancer hospitals," Dr. Jianyu Yang, Chairman and CEO of Concord Medical, comments. "The proceeds from this transaction will be used to fund the construction of our current projects as well as to pay off some current debt. Going forward, we expect to open five free-standing radiotherapy cancer centers and to begin construction on one to two Level-III premium cancer specialty hospitals in 2015."

Third Quarter 2014 Financial Results

• Total net revenue, which consists of net revenues generated from the network business and hospital business, was RMB265.7 million ($43.3 million) in the third quarter of 2014, a 13.6% increase from RMB234.0 million in the third quarter of 2013.
• Basic and diluted earnings per American Depositary Share ("ADS")^[2] in the third quarter of 2014 were RMB0.77 ($0.13) and RMB0.72 ($0.12), respectively, compared with RMB0.59 in the third quarter of 2013.

Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, stated: "The past quarter was marked by our excellent operational and financial performances. Our top and bottom lines increased by 13.6% and 30.3%, respectively, over the period of the previous year, and the growth rate is also higher. We are seeing more contribution from our network centers, especially from the centers which provide high-end radiotherapy and diagnostic services to our patients, such as CyberKnife and PET-CT centers. It is our corporate strategy to provide the best treatment and services available to our patients. The strategy is paying off and we will continue to pursue the strategy, as we build Concord into a leading operator of cancer specialty hospitals and radiotherapy and diagnostic centers in China."

"During the quarter, we have achieved a great milestone in our corporate strategy. Datong Meizhong Jiahe Cancer Center has received the relevant government approvals. It is the first free-standing cancer specialty hospital in the Concord network. We plan to replicate the model in other cities in China, especially in cities we have existing centers in operation. Thus, we can take advantage of the medical and operational teams in place. The Datong Meizhong Jiahe Cancer Center is expected to open in the first half of 2015. Our business development team is actively exploring similar opportunities in other cities in China."

"Currently, the healthcare reform in China is progressing quickly. The reform is touching upon many historically challenging issues, such as multi-location practice for doctors and equipment licensing to private hospitals. We are very pleased to see that the new government initiatives have brought great feasibility and visibility to our strategic plans. As doctors enjoy more freedom of practice, similar to their foreign counterparts, we will be able to attract more talents to our future hospitals, providing Concord Medical with a strong advantage, as our hospitals will be operated and managed similar to the model of best hospitals in the world."

"Giving the solid operational and financial performance in the first three quarters of the year, we reiterate our full year guidance forecast."

2014 Outlook

For the 2014 fiscal year, the Company expects earnings in the range of $0.45 to $0.50 per ADS, or $20.3 million to $22.5 million in Net Income Attributable to Ordinary Shareholders. The Company forecasts construction will start on Datong Meizhong Jiahe Cancer Center during 2014.

BEIJING, Oct. 27, 2014 /PRNewswire/ -- Concord Medical Services Holdings Limited ("Concord Medical" or the "Company") (NYSE: CCM), an operator of specialty cancer hospitals and the largest network of radiotherapy and diagnostic imaging centers in China, today announced that the Company has received relevant government approvals to establish a free-standing radiotherapy cancer center, Datong Meizhong Jiahe Cancer Center ("Datong Center") in Datong City, Shanxi Province.

Datong Center, a 100%-owned subsidiary of Concord Medical, will provide advanced, best-practice diagnostic and radiotherapy services with 100 beds once the construction of the facility is completed. It will be the first free-standing center in the Concord Medical network. Construction is expected to begin in November 2014 and the center will be operational in 2015. The center will be registered as a specialty cancer hospital with required departments, including radiation, imaging, test laboratory, inpatient, and nursing. This center will apply to join the local social insurance coverage. This free-standing center facility is an important step of the Company's broader strategy to build a nationwide chain of free-standing cancer treatment and diagnosis centers in the future.

Datong City is located 350 kilometers west of Beijing and is considered the "Coal Capital" of China. It is the commercial and industrial hub of Shanxi Province, with a population of 3.35 million in the city and over 7 million people in the neighboring areas. According to Datong Health Bureau, in 2012 cancer accounted for 30.03% of the total number of deaths in Datong. The top-3 male cancer incidences were lung cancer (38.71%), stomach cancer (12.06%), and liver tumors (9.85%). The top-3 female cancer incidences were breast cancer (20.02%), bronchus and lung cancer (10.66%), and cervical cancer (10.45%).

Dr. Jianyu Yang, Chairman and CEO of Concord Medical, commented, "We are very pleased to announce our first free-standing radiotherapy cancer center. This is a significant step in our plan to open a network of free-standing centers that provide diagnosis and radiotherapy services. Datong City represents a strategic opportunity for our first free-standing center. Currently, we are managing a radiotherapy center in a local hospital in Datong, where we have good doctor resources and a strong market network. We intend to utilize our existing resources to provide the highest quality of radiotherapy services for patients."

"In the coming years, we plan to selectively transform our current centers within existing hospitals into free-standing self-owned centers," concluded Dr. Yang. "As healthcare reform is implemented in China, we will capitalize on the opportunity and rely on our technical advantages and experience to expand our free-standing radiotherapy cancer center network in areas in which we have existing resources and strong patient demand."

Second Quarter 2014 Financial Results

• Total net revenue, which consists of net revenues generated from the network business and hospital business, was RMB285.3 million ($46.0 million) in the second quarter of 2014, a 12.3% increase from RMB254.0 million in the second quarter of 2013.
• Basic and diluted earnings per American Depositary Share ("ADS")^[2] in the second quarter of 2014 were RMB0.78 ($0.13) and RMB0.78 ($0.13), respectively, compared with RMB0.65 in the second quarter of 2013.

Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, stated, "We are very pleased with the strong financial and operating performance of the Company in the second quarter as we continue to make progress on our plan to become a more diversified hospital management operator. Our top and bottom line increased by 12.3% and 20.4%, respectively over the previous year period. This strong performance was driven by improving patient mix at our radiotherapy and diagnostic centers and increasing patient visits at our Chang'an Hospital, as well as ongoing cost controls across our operations."

"Since the start of the year, we have concentrated on a growth strategy to build Concord Medical into a nationwide hospital management company with a strong focus on cancer treatment, diagnosis and prevention. During the second quarter, we have engaged world-class architecture firms for the design of our Shanghai and Guangzhou hospitals. The design and pre-construction work of these two hospitals are currently underway. We have also finalized the site selection to open our first free-standing radiotherapy center, which is an exciting new development to our network expansion plans."

"Given the solid operational and financial performance in the first half of the year, we reiterate our full year guidance forecast. We are also pleased to reward shareholders with the announcement of our second dividend payment this year."

2014 Outlook

For the 2014 fiscal year, the Company expects earnings in the range of $0.45 to $0.50 per ADS, or $20.3 million to $22.5 million in Net Income Attributable to Ordinary Shareholders. The Company forecasts construction will start on one specialty cancer hospital during 2014.

These estimates are based on current market and operating conditions, are subject to change, and may be impacted positively or negatively by factors outside the Company's control, including but not limited to macroeconomic events in the markets in which the Company operates. See "Safe Harbor Statement" below for additional information regarding forward-looking statements.

BEIJING, July 28, 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 that on July 28, 2014, its Board of Directors declared a special cash dividend of US$0.30 per ordinary share (or US$0.90 per American Depositary Share ("ADS")) on the Company's outstanding ordinary shares. The total expense for the special dividend is expected to be approximately US$40.5 million, based on 134,836,300 ordinary shares outstanding as of March 31, 2014. Each ADS represents three ordinary shares of the Company.

The dividends are payable on or about September 30, 2014, to shareholders of record at the close of business on August 8, 2014. The ex-dividend date is expected to be on August 6, 2014.

Dr. Jianyu Yang, Chairman and CEO of the Company, said, "We're pleased the Board of Directors has declared this special dividend, demonstrating our growth momentum and strong financial position. Today's special dividend announcement is our second dividend payment in 2014.  Concord reiterates its policy of returning value to shareholders as we aim to fulfill our strategy of becoming a leader in China's private healthcare services sector."

First Quarter 2014 Financial Results

• Total net revenue, which consists of net revenues generated from the network business and hospital business, was RMB252.6 million ($40.6 million) in the first quarter of 2014, a 23.9% increase from RMB203.9 million in the first quarter of 2013.
• Basic and diluted earnings per American Depositary Share ("ADS")^[2] in the first quarter of 2014 were RMB0.59 ($0.10) and RMB0.58 ($0.10), respectively, compared with RMB0.44 ($0.07) in the first quarter of 2013.

Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, stated, "We are pleased to deliver robust performance in the first quarter of 2014. Total net revenue increased by 24% as compared to the first quarter of 2013 to RMB253 million. Our network and hospital business segments have experienced steady revenue growth, due to increasing patient demand driven by wider social insurance coverage and from the contribution of our new centers opened since 2013. Importantly, we experienced very strong profit growth during the quarter as net profit increased by 35% as compared to the first quarter of 2013 to RMB27 million, attributable to our strong revenue growth as well as our ongoing efforts to control cost, especially management cost."

"China is entering a high-incidence period of cancer, which is becoming a major healthcare challenge the country is facing. According to the World Health Organization's World Cancer Report 2014, the total number of cancer incidence and death in China in 2012 was 3 million and 2.2 million, respectively. The report also predicts that new cancer incidence in China will rise significantly from current levels in the future."

Dr. Yang continued, "Recently, the Chinese government has issued a series of new policies encouraging private investment in the healthcare services sector. The new policy initiatives have provided Concord Medical with the guidelines necessary to establish our planned specialty hospitals. With our planned cancer hospitals in Shanghai and Guangzhou, along with our growing radiotherapy centers around the country and our established Chang'an Hospital, Concord Medical is rapidly becoming a nationwide hospital management company with a strong focus on cancer treatment, diagnosis and prevention."

"With the strong financial results from the first quarter, we reiterate our 2014 full year financial guidance of earnings in the range of $0.45 to $0.50 per ADS, or $20.3 million to $22.5 million in net income attributable to ordinary shareholders. Construction will start with one specialty cancer hospital during 2014," concluded Dr. Yang.

2014 Outlook

For the fiscal year of 2014, the Company expects earnings in the range of $0.45 to $0.50 per ADS, or $20.3 million to $22.5 million in Net Income Attributable to Ordinary Shareholders. Construction will start with one specialty cancer hospital during 2014.

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.

BEIJING, April 4, 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 the Company will establish Shanghai Concord Cancer Hospital ("Shanghai Concord") - a premium cancer hospital - in Shanghai New Hongqiao International Medical Center.

Shanghai Concord plans to open 400 beds and adapts the domestic and internationally advanced therapeutic methods, medical process and management system. It plans to install the most advanced cancer diagnosis and treatment equipment and multidiscipline system. When completed, the hospital will become a leading cancer hospital in China and Asia.

So far, the Company has received the relevant government approval for the establishment of Shanghai Concord. The Company is in the process of finalizing the design and other pre-construction work. The construction is scheduled to start in the first half of 2015. The total construction period will be three years.

Recently, the Chinese government has issued several policies to encourage social capital into the healthcare services industry, including "Several Opinions to Accelerate the Social Investment in Healthcare Services" and "The State Council's Several Opinions to Promote the Development of the Healthcare Services Industry". By 2015, China's non-public medical institution beds and services will reach 20% of the total number of medical institutions. Local governments also have issued relevant detailed rules for the implementation. The approval process for setting up private medical institutions is clarified gradually. Healthcare services will become a new major growth sector in China's economy.

In early 2013, the National Cancer Registry Center released the latest version of the "2012 Chinese Cancer Registry Annual Report", showing that China's new cancer cases are about 3.12 million and cancer deaths are more than 2 million annually. By 2020, China will have a total of 4 million new cases and a total of 6 million cancer patients each year. Cancer has become a major challenge facing China's healthcare industry.

Based on 17-year experience in cancer treatment and diagnosis, Concord Medical will introduce the most advanced cancer diagnosis and treatment equipment, cooperate with the international renowned medical institutions, innovate the hospital operation management mode, and fully motivate the enthusiasm of doctors.

"The establishment of specialized, premium cancer hospital is an important component of our development strategy and also is highly consistent with the Chinese government policies encouraging private capital to enter the medical service industry." Dr. Jianyu Yang, the Chairman and CEO of Concord Medical, said, "As the most economically developed area in China, Shanghai possesses the most abundant medical and human resources in China. It is a very significant milestone for Concord Medical to build a leading cancer hospital in Shanghai."

Dr. Jianyu Yang also said, "During the process, we have received strong support and guidance from Shanghai New Hongqiao International Medical Center, which represent a new direction for China's healthcare reform. After the construction of Shanghai Concord Cancer Hospital is completed, Concord Medical will become a leading hospital group, including cancer hospitals in Shanghai and Guangzhou and more than 140 existing cancer diagnosis and radiotherapy centers covering the whole country."

Fourth Quarter 2013 Financial Results

• Total net revenues increased by 32.7% in the fourth quarter of 2013 to RMB282.6 million ($46.7 million), compared toRMB213.0 million ($34.2 million) in the fourth quarter of 2012.
• Both basic and diluted earnings per ADS for the fourth quarter of 2013 wereRMB0.29($0.05) vs. last years RMB0.70

"In 2013, we have achieved steady growth in our network business, which now covers 55 cities in China. The total revenue from the network business reached RMB 557.1 million, an increase of 17.4% compared to 2012," said Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical. "We are very glad to see that our network business is demonstrating accelerating growth, benefiting from the overall increase in healthcare spending in China as well as our internal measures to improve the overall performance of our network business adapted since 2012.

"Chang'an Hospital is further strengthening its position as a leading general hospital in northwestern region of China. The wider coverage of government medical insurance policy leads to steady patient traffic in Chang'an Hospital.

"During the past year, we have strengthened our cooperation and strategic partnership with many international leading medical institutions, including MDACC, the famous cancer hospital in the US. We have established regular business and academic exchange and communication programs with MDACC. Concord Medical will leverage the international partnership to bring the most advanced medical expertise and management experience to the Chinese market.

"Our strategic goal is to transform CCM into a leading hospital group, with both premium cancer hospitals in major cities and secondary cancer hospital and free-standing radiotherapy centers around the nation. In 2014, we will commence construction on our first premium cancer specialty hospital, the Guangzhou Concord Cancer Hospital. We believe that based on our rich experience in the radiotherapy industry, devoted management team as well as the most favorable government policy regarding private investment in the healthcare sector, we will achieve our strategic goals and provide international-standard cancer treatment to patients in China."

2014 Outlook

For the whole year of 2014, the Company expects earnings in the range of $0.45 to $0.50 per ADS, or $20.3 million to $22.5 millionin Net Income Attributable to Ordinary Shareholders. This forecast reflects CCM's current and preliminary view, which is subject to change.

BEIJING, Jan. 7, 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 and the parent of Chang'an Hospital, today announced that on January 7, 2014, its Board of Directors declared a special cash dividend of $0.24 per ordinary share (or $0.72 per American Depositary Share ("ADS")) on the Company's outstanding ordinary shares. The total expense for the special dividend is expected to be approximately $32.2 million, based on 134,018,937 ordinary shares outstanding as of September 30, 2013. Each ADS represents three ordinary shares of the Company.

The dividends are payable on January 30, 2014, to shareholders of record at the close of business on January 20, 2014.

Dr. Jianyu Yang, Chairman and CEO of the Company, said, "The Board of Directors declared this special dividend to provide shareholders with a tangible recognition of our good growth and solid financial performance. Concord Medical is well positioned to maintain its leadership in the fast-growing healthcare services sector in China. The Company is expected to return exceptional values to shareholders, while maintain a stable growth prospect in our business."

BEIJING, Nov. 26, 2013 /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 that it has signed a Memorandum of Understanding on Strategic Cooperation (" Strategic Cooperation MOU") with Shanghai New Hongqiao International Medical Center ("Shanghai NHQ") and GE Healthcare China ("GE") to establish an independent, high-end Medical Imaging Diagnosis Center.

Under the Strategic Cooperation MOU, CCM will collaborate with GE Healthcare China and Shanghai NHQ based on the "Public-private-partnership" or "PPP" (i.e., cooperation between government and non-state-owned participants) structure, in developing and managing the Medical Imaging Diagnosis Center within this new medical Center. The Center will provide shared imaging diagnosis services to the medical institutions located in Shanghai NHQ, introducing world-class diagnosis technology and management services concepts. Covering the Yangtze River Delta region, the most economic developed area in China and the entire country through remote tele-diagnosis platform, the Center will become the first independent, fully-licensed medical imaging diagnosis center in China not affiliated with a hospital.

Regarding the next steps to today's announcement, the three parties will jointly proceed with the related licensing and government approval, feasibility, financing and planning initiatives. The pre-construction phase is estimated to take 6-12 months.

Dr. Jianyu Yang, Chairman and CEO of Concord Medical, said, "Concord Medical has accumulated rich experience and a strong professional team in the investment and management of medical imaging diagnosis centers in China. We are very excited to participate in the NHQ International Medical Center project, partnering with GE Healthcare China, a leader in the medical imaging technology. The Shanghai NHQ project will become the first fully-licensed, independent medical imaging diagnostic center inChina, providing high-quality services to the local and expatriate population. The stand-alone center model is highly expandable and replicable. We plan to introduce such centers to other markets in China as independent diagnosis and treatment centers are a critical component of CCM's future strategic initiatives."

Third Quarter 2013 Financial Results

• Total net revenue, which consists of net revenues generated from the network business and hospital business, wasRMB234.0 million ($38.2 million) in the third quarter of 2013, a 13.5% increase from RMB206.1 million in the third quarter of 2012.
• Basic and diluted earnings per American depositary share ("ADS")^[2] in the third quarter of 2013 were both RMB0.59($0.10) vs. last years RMB0.82 or $0.14.

Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, stated, "We are pleased with our overall operating and financial results for the third quarter of 2013. The 15% revenue growth rate in our network business exceeded the 7% growth rate in the second quarter, while the gross margin remained at a favorable level. Concord Medical remains to be the leading operator of radiotherapy and diagnostic imaging centers in China. We enhanced our market position by adding four new centers in the third quarter, bringing our total number of centers to 144."

"In our Hospital segment, total revenue from our Chang'an Hospital reached RMB102.9 million, an increase of 12.2% from the same quarter of last year. We are proud that medical service revenue increased significantly by 20.6% over the prior year period, demonstrating our strong momentum in both patient volume and per patient yield. The medicine revenue accounted for 42.6% of total revenue from hospital business in the quarter, while our long-term target is to lower the ratio to under 40%."

"In mid-October, the State Council of China issued 'Guidelines to promote the development of the healthcare services industry'. For Concord Medical, these new guidelines will greatly improve the visibility of government approvals and equipment procurement for establishing new private, for-profit hospitals. We feel very confident that our planned specialty cancer hospitals will significantly benefit from these new policies over time. Currently, we are finalizing design plans for our Concord Guangzhou Cancer Hospital. Our timeline for this project remains on schedule with construction expected to start in the first half of 2014."

Dr. Yang concluded, "With new government policies becoming more favorable to private healthcare services institutions, we remain highly confident with our business strategy of providing specialized, high-quality healthcare services to patients in China. Future Concord facilities will introduce the most advanced treatment and medical procedures in our branded hospitals and leverage our strategic relationships with world-famous medical institutions."

2013 Outlook

Based on current market and operating conditions, estimated business expansion and forecasted Chang'an Hospital financial results, Concord Medical reiterates its full year 2013 guidance forecast of total estimated net revenue in the range of RMB930 million to RMB975 million, representing a 40% to 47% increase from 2012. Revenue from the Company's network business and hospital business as a percent of total revenue are expected to be approximately 55% and 45% in 2013, respectively. Full year 2013 adjusted EBITDA is expected to grow from 10% to 15% compared to 2012.

BEIJING, Oct. 15, 2013 /PRNewswire/ -- Concord Medical Services Holdings Limited ("Concord Medical", "CCM", 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 and the parent of Chang'an Hospital, today provided an industry update, announcing that the State Council of China has issued "Guidelines to promote the development of the healthcare services industry"("Guidelines") on October 14, 2013.

The "Guidelines" propose relaxation of market access restrictions, the strengthening of planning layouts and land protection, improvements to the tax policy and other measures focused on encouraging the expansion of supply and fueling consumer demand in the healthcare service sector.

Additionally, the "Guidelines" further relax limits and restrictions on the entry of private capital into the healthcare services sector, including the following measures:

• Further "opening up" the healthcare services sector---increase social capital investment in areas in which laws and regulations do not explicitly ban investment; 
• Every area open for local capital investment must also be open to non-local capital investment;
• Implement and enforce stricter time limits for the approval of establishing healthcare services institutions by the appropriate regulatory authorities and ensure approval is appropriately delegated to the respective local government agencies;
• Relax the number, size and configuration limits for procurement of large medical equipment at for-profit hospitals.

The new guidelines are the Chinese government's latest effort to consolidate and expand the reach and performance of its medical and healthcare system, plan for stable overall growth of the industry, adjust the industry structure, promote reform, and protect and improve the livelihood of its citizens. The Guidelines are significant measures to satisfy the diverse and multi-level healthcare service needs of the Chinese people, improve the health of the nation's population, enhance service quality, expand the job market, promote economic reform and establish new opportunities for growth.

Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, commented, "We are pleased with the Chinese government's recent guidelines that encourage private capital investment in the healthcare service sector. For CCM, the new guidelines will greatly improve the visibility of government approvals and equipment procurement for establishing new private, for-profit hospitals.  We feel very confident that CCM's planned specialty cancer hospitals will significantly benefit from the new policies over time. We also believe these guidelines will facilitate healthcare reform in China and create a more level playing field for private sector investment in the healthcare service sector."

Second Quarter 2013 Financial Results

• Total net revenue, which consists of net revenues generated from the network business and hospital business, was RMB254.0 million ($41.4 million) in the second quarter of 2013, an 86.1% increase from RMB136.5 million in the second quarter of 2012.
• Gross profit in the second quarter of 2013 was RMB105.2 million ($17.1 million), a 12.1% increase from RMB93.9 million in the second quarter of 2012.
• Net income attributable to ordinary shareholders in the second quarter of 2013 was RMB29.1 million ($4.7 million), a 21.9% decrease from RMB37.2 million in the second quarter of 2012.
• Basic and diluted earnings per American depositary share ("ADS")^[2] in the second quarter of 2013 were both RMB0.65 ($0.11) vs. last years RMB 0.80 ($0.13)

Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, stated, "We are very pleased with our revenue, gross profit and adjusted EBITDA growth in the second quarter of 2013 as we continue to scale our network business and make further strides in our efforts to develop into a branded specialty cancer hospital company in China."

"Revenue in our network business grew approximately 6.7% in the quarter with gross margin of 59.7%, both of which were notable improvements from our first quarter results. We added three new centers in the quarter, bringing our total count to 140 centers at the end of the second quarter. We are proud that we have consolidated our position as the largest operator of radiotherapy and diagnostic imaging centers in China."

"In our Hospital segment, Chang'an Hospital delivered improved financial and operating results in the second quarter. As a hospital intended for the general population, Chang'an Hospital benefits from China's enlarged social welfare network with strong patient flow. Our gross margin in this segment improved significantly since last quarter and we believe the performance will remain stabilized in the second half of 2013."

"We continue to make meaningful progress in our telemedicine and web business units and expect these business units to start generating incremental medical revenue for our centers as well as achieve cost savings for our network business in the coming quarters."

"As government policy in China increasingly favors the establishment of private healthcare institutions and higher demand for differentiated, high-quality healthcare services, we intend to focus on the construction and operation of CCM-branded specialty cancer hospitals in China. Our projects in Beijing and Guangzhou are both moving forward and remain on schedule. Our target is to complete the design of Concord Guangzhou Cancer Hospital in the second half of 2013 with construction expected to start in the first half of 2014."

Dr. Yang concluded, "We believe our growth for the second half of 2013 will remain strong, as new centers in the network business entering productive stage and Chang'an Hospital carrying the strong momentum forward. We remain comfortable with our full year projection of 40%-47% revenue growth and adjusted EBITDA growth in the mid-teen levels for 2013."

2013 Outlook

Based on current market and operating conditions, estimated business expansion and forecasted Chang'an Hospital financial results, Concord Medical reiterates its full year 2013 guidance forecast of total estimated net revenue in the range of RMB930 million to RMB975 million, representing a 40% to 47% increase from 2012. Revenue from the Company's network business and hospital business as a percent of total revenue are expected to be approximately 55% and 45% in 2013, respectively. Full year 2013 Adjusted EBITDA is expected to grow at the mid-teen level for the year compared to 2012.

First Quarter 2013 Financial Results

• Total net revenue, which consists of net revenues generated from the network business and hospital business, was RMB203.9 million ($32.8 million) in the first quarter of 2013, a 91.1% increase from RMB106.7 million in the first quarter of 2012.
• Gross profit in the first quarter of 2013 was RMB71.5 million ($11.5 million), a 14.8% increase from RMB62.3million in the first quarter of 2012.
• Net income attributable to ordinary shareholders in the first quarter of 2013 was RMB19.7 million ($3.2 million), an 18.6% decrease from RMB24.2 million in the first quarter of 2012.
• Basic and diluted earnings per American depositary share ("ADS")^[2] in the first quarter of 2013 were RMB0.44 ($0.07).

Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, stated, "I am pleased with the financial results of first quarter of 2013, especially the strong revenue growth, healthy gross profit and Adjusted EBITDA compared with the first quarter of 2012. During the quarter, we benefited from the continuously increasing demand from the general population for high-quality and affordable healthcare services. We saw a positive momentum in patient number growth in both our network and hospital businesses."

"Since 2012, we have increased our investment in the telemedicine and web business units. In telemedicine, we are building a network based on data transmission and storage technology that will enable doctors and physicists in our network to more easily communicate and consult with each other on cases. We are also setting up telemedicine centers in hospitals in remote areas so that the doctors there can benefit from the knowledge and expertise of other doctors in the CCM network. We have also invested in web-based and mobile marketing business units that will helped our centers targeting new patients more effectively. We believe that these new business units will bring incremental future revenues to the company. We plan to continue investing in these business units."

"Based on our estimates of the business environment and progress so far in 2013, we are confident that we will achieve the 2013 revenue targets of RMB930 million to RMB975 million issued in the first quarter."

"On May 15, 2013, we announced the signing of a $50 million loan package with International Finance Corporation ("IFC"). We will use the loan to expand our network of radiotherapy centers in China as well as to build the planned specialty hospitals in Beijing and Guangzhou. These hospitals represent crucial components of our growth strategy to create a nationwide network of oncology centers and specialty hospitals, providing high-quality radiotherapy services to all of our patients in China."

"We plan to start construction of our specialty cancer hospital in Guangzhou during the second half of 2013. Also, we have made progress towards obtaining the necessary administrative approvals related to the Beijing hospital project, in cooperation with Sino-Japanese Friendship Hospital. Once both hospitals are open, they will provide high-end radiotherapy services, based on international standard of quality assurance and planning."

2013 Outlook

Based on current market and operating conditions, estimated business expansion and forecasted Chang'an Hospital financial results, Concord Medical expects to generate total net revenues in an estimated range of RMB930 million to RMB975 million in 2013, which would represent a 40% to 47% increase from 2012. The revenues from network business and hospital business as percentages to total revenues are expected to be approximately 55% and 45% in 2013, respectively. Finally, the Company is targeting to start construction of the specialty cancer oncology hospital inGuangzhou in 2013.

These estimates are based on current market and operating conditions, are subject to change, and may be impacted positively or negatively by factors outside the Company's control, including but not limited to macroeconomic events in the markets in which the Company operates. See "Safe Harbor Statement" below for additional information regarding forward-looking statements.

BEIJING, May 15, 2013 /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 and the parent of Chang'an Hospital, today announced that the Company has signed a US$50 million loan package agreement with IFC (International Financial Corporation), the member of the World Bank Group focused on private sector development in emerging markets.

The loan package consists of 1) a $30 million 8-year loan with a variable interest rate of Libor + 4.5%, and 2) a $20 million 5-year convertible bond with a variable interest rate of Libor +3.75% and a conversion price of $6.90 per ADS. The convertible bonds can be converted at lender's discretion, in whole or in part during the term of the loan. Disbursement of the loan proceeds to Concord is subject to various conditions. Subject to satisfaction of these conditions and disbursement of the loan proceeds, the company will use IFC's $50 million loan for the development of 50 new radiotherapy centers over the next 3 years at county level and the development of a proton beam therapy hospital in Beijing and an oncology hospital in Guangzhou, Guangdong province.

"We would like to welcome IFC as our strategic partner in China," Dr. Jianyu Yang , the Chairman and CEO of Concord Medical said. "Concord Medical will use the IFC loan to expand our network of radiotherapy centers in China as well as to build the planned specialty hospitals in Beijing and Guangzhou. These are crucial components of our corporate growth strategy to create a nationwide network of oncology centers and specialty hospitals, providing high-quality radiotherapy services to all of our patients in China."

"IFC is partnering with leading private sector players like Concord Medical to make health care services more accessible and affordable in China and other developing countries," said Karin Finkelston , IFC's vice president for Asia Pacific. "Delivering quality health care increases life expectancy and decreases the loss of labor, thereby supporting economic growth and improving people's lives."

BEIJING, Jan. 4, 2013 /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, announced today that it has closed the acquisition of 19.98% of indirect ownership of TheUniversity of Texas MD Anderson Cancer Center Proton Therapy Center (MD Anderson Proton Therapy Center).

The company announced the signing of a definite agreement in connection with the acquisition on December 11, 2012. MD Anderson Proton Therapy Center is a leading proton treatment center in the world. Concord Medical plans to invest and operate two proton centers in China. The transaction will enable Concord Medical to expand its expertise and knowledge base in preparation for the operation of future proton centers.

After the closing, Concord Medical becomes the second largest owner of the MD Anderson Proton Therapy Center, behind MD Anderson Cancer Center. Concord Medical will join both the Board of Directors of the PTC-Houston Management, LP, the general partner of the center, and the center's Advisory Committee.

"The acquisition of interest in MD Anderson Proton Therapy Center plays a key role in accelerating Concord Medical's strategic plan to build and operate proton centers in China," says Dr. Jianyu Yang , CCM Chairman and CEO. "The transaction solidifies CCM's position as a leading radiotherapy operator in China. We look forward to working closely with MD Anderson Proton Therapy Center in multiple areas."

Under the terms of the agreement, CCM paid an undisclosed amount in cash to purchase a minority interest in the general partner and facility manager of the MD Anderson Proton Therapy Center.  CCM will be entitled to receive both management fees and cash distribution. The net impact to CCM is expected to be accretive to EPS in 2013.

BEIJING, Oct. 9, 2012 /PRNewswire-FirstCall/ -- 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 that its board of directors has approved the extension of its previously announced share repurchase program, which was set to expire in October 2012. The program was extended until the aggregate value of the Company's repurchases equals $20 million.

Since the inception of the program, the Company has repurchased 2,029,506 ADSs, representing 6,088,518 ordinary shares, for an aggregate consideration of $6.9 million (including commissions).

BEIJING, October 9, 2012 /PRNewswire-FirstCall/ -- 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 that its board of directors has approved the extension of its previously announced share repurchase program, which was set to expire in October 2012. The program was extended until the aggregate value of the Company's repurchases equals $20 million.

Since the inception of the program, the Company has repurchased 2,029,506 ADSs, representing 6,088,518 ordinary shares, for an aggregate consideration of $6.9 million (including commissions).

BEIJING, Sept. 5, 2012 /PRNewswire-FirstCall/ -- 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, released the following statement today. In view of the unusual market activity in the company's stock, the New York Stock Exchange has contacted the company in accordance with its usual practice. The Company stated that its policy is not to comment on unusual market activity.

Second Quarter 2012 Highlights

• Total net revenues in the second quarter of 2012 were RMB136.5 million ($21.5 million), a 10.2% increase from the second quarter of 2011.
• Gross profit in the second quarter of 2012 was RMB93.9 million ($14.8 million), a 12.1% increase from the second quarter of 2011.

• Net income in the second quarter of 2012 was RMB38.3 million ($6.0 million), a 2.3% increase from the second quarter of 2011. Both basic anddiluted earnings per American depositary share ("ADS")[2] for the second quarter of 2012 were RMB0.80 ($0.13).
• Non-GAAP net income[3] in the second quarter of 2012 was RMB40.6 million ($6.4 million), a 2.4% increase from the second quarter of 2011. Both non-GAAP basic and diluted earnings per ADS for the second quarter of 2012 were RMB0.85 ($0.13).

"In the second quarter of 2012, we delivered healthy growth and increased net revenues compared with the second quarter of 2011," said Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, "Our core lease and management services business experienced strong growth momentum, benefiting from the expanding social insurance program in China. We are confident in our expansion strategy and growth prospects. We are pushing forward on all fronts to establish standalone hospitals, open new centers with hospital partners, pursue acquisition targets, and increase the utilization rate andoperational efficiency at our existing facilities."

2012 Outlook

The Company intends to provide consolidated financial results that include the results of Chang'an Hospital beginning with the third quarter of 2012. The Company also updated its guidance for the second half of 2012 fiscal year as follows:

• Net revenues from the current network business of RMB220 million to RMB240 million ; and
• Revenues from Chang'an Hospital of RMB190 million to RMB210 million, reflecting six months of financial results; and
• Network capital expenditures of RMB80 million to RMB120 million, primarily on purchasing new equipment for new centers.

BEIJING, July 18, 2012 /PRNewswire-Asia-FirstCall/ -- 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 that its subsidiary Chang'an Hospital has signed a strategic alliance agreement with Fox Chase Cancer Center (FCCC).

Under the agreement, Fox Chase Cancer Center will provide support of management, treatment, technology and research to Chang'an Hospital, including protocols and clinical practice guidelines on cancer surgery, chemotherapy, radiotherapy, gene therapy and prevention.

In particular, FCCC will send clinical and management experts to Chang'an Hospital to practice, give lectures and inspect annual quality control standards. At the same time, FCCC will accept management and technical personnel from Chang'an Hospital to study and train there. In addition, FCCC will provide remote diagnosis and treatment programs to Chang'an Hospital. The two organizations will jointly conduct cancer clinical and fundamental research, and share information and research results.

BEIJING, June 18, 2012 /PRNewswire-Asia-FirstCall/ -- 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 today that it has closed the acquisition of 52% equity ownership in Chang'an Hospital, a leading non-public general hospital located in Xi'an, Shaanxi Province.

The acquisition will help the Company become a leading hospital management group in China, with over 1000 hospital beds and 130 radiotherapy and diagnostic centers nationwide. The Company expects to add more specialty oncology hospitals in the near future, and the Company has already submitted applications for relevant licenses for two planned hospitals which are currently under government review.

The company announced the signing of a definite agreement in connection with the acquisition of 52% equity ownership in Chang'an Hospital on March 22, 2012. Since then, the Company has received all necessary government approvals including New Business License of Chang'an Hospital, and completed all registration procedures, including Capital Verification Report, Share Ownership Report, and Business Registration Change Report. Chang'an Hospital will convene a board meeting, at which the board will appoint the new directors selected by the Company effective as of July 1, 2012. The financial results of Chang'an Hospital will then be subject to consolidation by the company starting from the third quarter of 2012.

"The successful closing of this transaction is a significant accomplishment and an important milestone in the Company's history. It is the first step in the Company's strategic transformation into a hospital management company," said Dr. Jianyu Yang, CCM's Chairman and CEO. "The current healthcare reform in China has provided us with great development opportunities. We appreciate the support and advice of our investors and shareholders to help us achieve the strategic transformation."

The Company expects to achieve revenue from lease and management services between RMB118 million to RMB125 million (US$18.7 million to US$19.8 million) in the second quarter of 2012, compared to RMB101.7 million (excluding revenue contribution from Chang'an Hospital) during the same quarter of 2011, representing 16% to 23% year-over-year growth. The Company also reiterates its revenue target of RMB590 million to RMB630 million for the 2012 fiscal year

First Quarter 2012 Highlights

• Total net revenues in the first quarter of 2012 were RMB106.7 million ($16.9 million), a 22.1% increase from the first quarter of 2011.
• Gross profit in the first quarter of 2012 was RMB62.3 million ($9.9 million), a 13.9% increase from the first quarter of 2011.
• Net income in the first quarter of 2012 was RMB25.0 million ($4.0 million), a 9.2% increase from the first quarter of 2011. Both basic and diluted earnings per American depositary share ("ADS")[2] for the first quarter of 2012 were RMB0.52 ($0.08).
• Non-GAAP net income[3] in the first quarter of 2012 was RMB27.3 million ($4.3 million), a 7.9% increase from the first quarter of 2011. Both non-GAAP basic and diluted earnings per ADS for the first quarter of 2012 were RMB0.57 ($0.09) vs ($0.08) in prior year first quarter.
• Adjusted EBITDA[4] (non-GAAP) in the first quarter of 2012 was RMB73.6 million ($11.7 million), a 12.1% increase from the first quarter of 2011.
• One new center was established and the lease and management service agreements of two centers expired in the first quarter of 2012, bringing the total number of centers in operation to 130 in 51 cities across 24 provinces in China, as of March 31, 2012. The Company has outstanding agreements to establish 38 new centers, as of March 31, 2012.
• The numbers of treatment and diagnostic patient cases were 7,860 and 44,527 in the first quarter of 2012, respectively, representing a 0.9% and 43.0% increase from the first quarter of 2011.

"In the first quarter of 2012, we delivered healthy growth and increased net revenues by more than 22% compared with the first quarter of 2011," said Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, "We are confident in our expansion strategy and growth prospects. We are pushing forward on all fronts to establish standalone hospitals, open new centers with hospital partners, pursue acquisition targets, and increase our utilization and efficiency at our existing facilities."

2012 Outlook

The Company expects to consolidate financial results of Chang'an Hospital beginning at the third quarter of 2012. Based on current market and operating conditions, planned business expansion and forecasted Chang'an Hospital financial results, the Company is maintaining its 2012 fiscal year business guidance, first announced in the Q4 2011 earnings release, as following:

• Total net revenues of RMB590 million to RMB630 million, or 30%-40% growth from 2011 fiscal year;
• Growth in total net revenues from lease and management services of 15% to 18% ;
• Revenue from Chang'an Hospital of RMB190 million to RMB210 million, reflecting consolidation of 6-months financial results; and
• Network capital expenditures of RMB250 million to RMB275 million

The company is targeting to obtain the license for at least one specialty oncology hospital in 2012.

BEIJING, March 22, 2012 /PRNewswire-Asia-FirstCall/ -- Concord Medical Services Holdings Limited ("Concord Medical" or the "Company") (NYSE: CCM), a leading hospital management company and the operator of the largest network of radiotherapy and diagnostic imaging centers in China, today announced the signing of a purchase agreement under which the Company agreed to acquire 52% of the equity interest of Chang'an Hospital in a cash transaction for approximately RMB248 million ($39.4 million). Chang'an Hospital is one of the largest private-owned general hospitals in China, located in Xi'an City, Shaanxi Province, China.

"We are very pleased to welcome Chang'an Hospital to the CCM family," Dr. Jianyu Yang, Chairman and CEO said. "As a private hospital with over 10 years of operating history, Chang'an Hospital has now entered into the stage of profitable growth. After the completion of the acquisition, Chang'an Hospital will be integrated into CCM's nationwide network. In the future, we plan to establish strategic alliances with leading medical institutions in the world, to improve the medical service quality and management efficiency of Chang'an Hospital. This acquisition is the important first step towards transforming CCM into a leader in China's healthcare service sector."

Chang'an Hospital, with over 1,000 beds, is one of the largest privately-owned general hospitals in China. Combined with CCM's 131 radiotherapy and diagnostic imaging centers located across China, Chang'an Hospital will serve as the regional hub in CCM's nationwide network and cover the northwestern region of China, which has over 100 million population. Upon completion of the acquisition, CCM will become one of the few US-listed companies to own a controlling equity interest in a private general hospital in China.

"The acquisition of Chang'an Hospital is an important milestone in CCM's development," Dr. Yang commented. "This transaction will enable us to accumulate important hospital operating experience and management techniques, strengthen our own medical and hospital management team, and prepare for the planned opening of other specialty hospitals in the CCM network. Our long-term strategy is to become the leading hospital management and operating company in China."

Since 2009, CCM has worked with Chang'an Hospital as part of its equipment lease and management business. In 2010, CCM and Chang'an Hospital jointly established CCICC, a specialty oncology hospital, which will be merged into Chang'an Hospital after the closing of this transaction.

The transaction has been approved by the boards of directors of both CCM and Chang'an Hospital and is expected to close in the second quarter or the beginning of the third quarter of calendar 2012, subject to certain closing conditions and government approvals. The acquisition is expected to be accretive to CCM earnings per share beginning at the third quarter of 2012.

Fourth Quarter Highlights

• Total net revenues increased by 1.1% to RMB114.1 million ($18.1 million), compared to the fourth quarter of 2010.
• Net loss was RMB310.0 million ($49.3 million), primarily due to a goodwill impairment charge of RMB300.2 million ($47.7 million) and one-time bad debt and other provisions of RMB49.1 million ($7.8 million). Non-GAAP net income(2) was RMB41.7 million ($6.6 million), a 13.2% decrease from the fourth quarter of 2010.
• Basic and diluted net loss per American Depositary Share ("ADS")(3) was RMB6.56 ($1.04), compared to basic and diluted net income per ADS RMB0.87 in the fourth quarter of 2010. Non-GAAP basic and diluted earnings per ADS were RMB0.87 ($0.14) compared to non-GAAP basic and diluted earnings per ADS ofRMB0.96 in the fourth quarter of 2010.
• Concord Medical opened four centers in the fourth quarter of 2011, bringing the total number of centers in operation to 131 across 51 cities in China, as of December 31, 2011.
• The total numbers of treatment and diagnostic patient cases were 9,052 and 43,374, respectively, representing 8.9% and 25.2% increases from the fourth quarter of 2010, respectively.

"2011 was a transformational year for Concord Medical as we built a solid foundation for CCM to become a leader in China's healthcare service sector," said Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical. "We focused on improving our operational efficiencies, while also increased the number of centers in our network and delivered positive financial results. Our revenue in 2011 grew by 15.6% compared with 2010 and we added 13 new centers, bringing the total number of centers in our network to 131 at the year end. The CCM network now covers 51 cities in 24 provinces in China. We are now seeing a more balanced revenue contribution, both geographically and operationally from our radiotherapy and diagnostic lines. In addition, we believe our new contract pipeline will provide stable revenue growth from our centers in 2012. We have adopted a rigorous and balanced decision-making process for investments in new centers in order to enhance our return on capital.

"The government continues to encourage private investment into the healthcare system in China," continued Dr. Yang. "In December 2011, the newly issued Foreign Investment Catalogue 2011 revision moved the healthcare service sector to 'permitted' from 'restricted' category. Leveraging this more favorable policy environment and our effective marketing and execution efforts, we are confident that Concord Medical will capitalize on the opportunity and achieve our goal to become a leader in China's healthcare services industry."

2012 Outlook

The Company expects to consolidate the financial results of Chang'an Hospital beginning at the third quarter of 2012. Based on current market and operating conditions, estimated business expansion and forecasted Chang'an Hospital financial results, the company provides the following financial guidance for the 2012 fiscal year:

• Total net revenues of RMB590 million to RMB630 million, or 30%-40% year-over-year growth;
• growth in total net revenues of lease and management service of 15% to 18%;
• revenue from Chang'an Hospital of RMB190 million to RMB210 million, reflecting consolidation of 6-months financial results; and
• capital expenditures of RMB250 million to RMB275 million.

The company is targeting to obtain the license of at least one specialty oncology hospital in 2012.

BEIJING, December 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.

Third Quarter 2011 Results

• Total net revenues were RMB124.7 million ($19.6 million)(A) in the third quarter 2011, up 23.4% from the third quarter 2010.
• Gross profit was RMB82.9 million ($13.0 million) in the third quarter 2011, up 24.0% from the third quarter 2010. The gross profit margin in the third quarter was 66.5% compared with 66.2% in the third quarter 2010.
• Net income was RMB38.3 million ($6.0 million) in the third quarter 2011, up 14.7% from the third quarter 2010. The net profit margin in the third quarter was 30.7% compared with 33.1% in the third quarter 2010.
• Basic and diluted earnings per American depositary share ("ADS") for the third quarter 2011 were RMB0.81 ($0.13), up 17.7% from the third quarter 2010. Each ADS represents 3 ordinary shares.
• Non-GAAP net income(B) was RMB40.6 million ($6.4 million) in the third quarter 2011, up 12.9% from the third quarter 2010. Non-GAAP basic and diluted earnings per ADS were RMB0.86 ($0.13) in the third quarter 2011, up 15.8% from the third quarter 2010. Adjusted EBITDA (non-GAAP)(C) was RMB93.0 million ($14.6 million) in the third quarter 2011, up 18.2% from the third quarter 2010.
• In the three months ended September 30, 2011, the Company added 3 radiotherapy and diagnostic imaging centers in the third quarter, bringing the total number of centers in operation to 128 in 48 cities in China as of September 30, 2011. As of September 30, 2011, the Company had entered into agreements to establish 36 additional centers.
• During the third quarter 2011, the Company handled 8,941 patient treatment cases and 49,988 patient diagnostic cases, representing an increase of 5.7% and 42.6%, respectively, from the third quarter 2010.

Dr. Jianyu Yang, Director, President, and Chief Executive Officer of Concord Medical, said, "We delivered a strong quarter of solid financial growth, in both revenues and net income, as a result of higher patient volumes at existing centers and centers we have added since September 30, 2010.

"We have established 9 new centers in the first three quarters of this year and we expect to add more centers in the fourth quarter.

"Our long-term strategy is to develop new radiotherapy and diagnostic imaging centers with hospital partners, to increase utilization and efficiency at existing centers, to establish new specialty hospitals and stand-alone centers, and to pursue prudent strategic acquisitions. We believe our long-term strategy has been working well and should continue to add value for our shareholders.

"Given our good results for the first nine months, we are maintaining our revenue outlook for 2011."

Revenue Outlook Maintained for 2011

Based on current market and operating conditions, planned business expansion, and estimated patient volume, Concord Medical is maintaining its prior revenue outlook for the year 2011, as shown below.

The Company expects to generate net revenues in an estimated range of RMB480 million to RMB520 million for the year 2011, which would be an increase of approximately 23% to 33% in net revenues from 2010. This estimated range includes revenues from the Chang'an CMS International Cancer Center ("CCICC") preliminary operations but excludes any potential future revenue from the Chang'an Hospital, as the acquisition of Chang'an Hospital's equity interests is currently pending. The Company notes that any unanticipated delays in completing the acquisition of Chang'an Hospital, any failure to obtain CCICC's clinical license, and other uncertainties may result in CCICC not achieving its expected contribution to the Company, which in turn could have a material adverse effect on the Company's business, financial condition, and results of operations in 2011 and future periods.

Second Quarter 2011 Results

To date, we have financed our operations primarily through cash flows from operations and short- and long-term bank borrowings, as well as the issuance of convertible notes and contingently redeemable convertible preferred shares and more recently through the proceeds from our initial public offering.

We believe that our current levels of cash and cash flows from operations will be sufficient to meet our anticipated cash needs for at least the next 12 months. However, we may need additional cash resources in the future if we experience changed business conditions or other developments or if we find and wish to pursue opportunities for investment, acquisition, strategic cooperation or other similar actions

First Quarter Results:

• Total net revenues in the first quarter of 2011 were RMB87.4 million ($13.3 million), a 14.7% increase from the corresponding period in 2010.
• Gross profit in the first quarter of 2011 was RMB54.7 million ($8.4 million), an 11.3% increase from the corresponding period in 2010.
• Net income in the first quarter of 2011 was RMB22.9 million ($3.5 million), a 6.1% increase from the corresponding period in 2010. Both basic and diluted earnings per American depositary share ("ADS") (2) for the first quarter of 2011 were RMB0.48 ($0.07).
• Non-GAAP net income (3) in the first quarter of 2011 was RMB25.3 million ($3.9 million), a 5.3% increase from the corresponding period in 2010. Both non-GAAP basic and diluted earnings per ADSfor the first quarter of 2011 were RMB0.53 ($0.08).

"In the first quarter of 2011, we delivered an approximately 15% increase in net revenues compared with the first quarter of 2010," said Dr. Jianyu Yang, director, president and chief executive officer of Concord Medical. "The moderate growth can be primarily attributed to the ramp up process in the newly opened centers." Dr. Yang continued, "We are confident in our expansion strategy and growth prospects. We are pushing forward on all fronts including establishing standalone hospitals and centers, developing new centers with hospital partners, pursuing acquisition targets, and increasing utility and efficiency at our existing facilities."

Based on current market and operating conditions, estimated business expansion and forecasted patient volume, Concord Medical reiterates its outlook for fiscal year 2011. The Company expects to generate total net revenues in an estimated range of RMB480 million to RMB520 million in 2011, which would represent a 23% to 33% increase from 2010. This estimated range excludes any potential future revenue arising as a result of the currently pending acquisition of equity interests in Chang'An Hospital but includes income from CCICC's preliminary operations. The Company notes that any unanticipated delays in the closing of Chang'An Hospital's acquisition, any failure to obtain CCICC's clinical license and other uncertainties may result in CCICC not achieving its revenue contribution to the Company, which in turn could have a material adverse effect on the Company's business, financial condition and results of operations in 2011 and future periods.

Fourth Quarter 2010 Highlights:

• Total net revenues were RMB75.8 million (US$11.5 million), a decrease of 35.3% from the fourth quarter of 2009 and an increase of 38.4% from the third quarter of 2010.
• Operating income was RMB28.4 million (US$4.3 million), a decrease of 22.5% from the fourth quarter of 2009 and an increase of 127.5% from the third quarter of 2010.
• Net income was RMB19.0 million (US$2.9 million), a decrease of 40.6% from the fourth quarter of 2009 and an increase of 195.4% from the third quarter of 2010.
• Net cash inflows from operating activities were RMB15.9 million (US$2.4 million), compared to with net cash outflows from operating activities of RMB171.9 million in the fourth quarter of 2009 and net cash inflows from operating activities of RMB54.5 million in the third quarter of 2010.

Fiscal Year 2010 Financial Highlights

• Total net revenues were RMB243.4 million (US$36.9 million) in 2010, a decrease of 40.9% from 2009.
• Operating income was RMB62.9 million (US$9.5 million) in 2010, a decrease of 30.7% from 2009.
• Net income was RMB39.9 million (US$6.0 million) in 2010, a decrease of 53.9% from 2009.
• Basic and diluted earnings per ADS were RMB1.52 (US$0.23) in 2010, a decrease of 53.8% from RMB3.29 in 2009.

Mr. Shengcheng Wang, Chairman and Chief Executive Officer of China Mass Media, commented, "We are pleased to report solid results for the fourth quarter of 2010.  Demand in the advertising market experienced a traditional seasonal increase during the quarter.  In addition, the intense price competition in the advertising market during the first three quarters of 2010 steadied and prices leveled off. In the fourth quarter, we secured a number of direct corporate customers and worked to take advantage of new market opportunities, which helped drive the significant increase in our top and bottom line performance during the period."

"The decline in our revenues from the same period last year was largely due to an unusual increase in market demand in the fourth quarter of 2009 following market expectation that CCTV planned to raise advertising prices in 2010.  In 2010, we also adopted a more selective media strategy. We reduced our investments in media resources on CCTV-4 from six programs to one program.  For the one remaining program, the 'Periodic China News Package,' which we felt offered a particularly promising opportunity, we strengthened our marketing efforts and it became an important source of revenue and profitability for us in 2010.  Sales of our 'Daytime Advertising Package' and 'Television Guide Package' were both subject to severe price competition for clients' limited budgets, and compared to last year, revenues from these segments declined sharply from 2009. We tried a variety of marketing strategies and methods to respond to this intense price competition, and we will continue our efforts to improve our sales rates in 2011."

Business Outlook

The Company currently expects to generate total net revenues of between RMB48.0 million ($7.27 million) and RMB 53.0 million ($8.03 million) for the first quarter of 2011, which represents a potential decrease of 14.3% to 5.4% compared with the first quarter of 2010 due to continuous price competition in the market.  

This forecast reflects the Company's current and preliminary estimate, which is subject to change.