Concord Medical Obtained ￥700M Investment from CITIC Industrial

According to PRNewswire.com, Concord Medical Services Holdings Ltd. ("Concord Medical") (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, has announced that CITIC Industrial Investment Group Ltd. ("CITIC Industrial"), 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 700 million yuan.

Concord Medical focuses on providing multidisciplinary cancer care approach in all areas of oncology services in its cancer hospitals. The company also equips its hospitals with technologically advanced equipment such as the state-of-the-art proton therapy system in its Beijing, Shanghai and Guangzhou cancer hospitals. As of June 30, 2019, the company operates a network of 30 standalone radiotherapy and diagnostic imaging centers under a long-term operation and management agreements with 20 states-owned hospitals, spanning over 20 cities across 13 provinces and municipalities. 

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 providing its patients with high-quality patient-centered multidisciplinary cancer care services. 

In addition, Meizhong Jiahe provides the cutting-edge Proton therapy treatment option in Concord Medical's Beijing, Shanghai and Guangzhou cancer hospitals. Meizhong Jiahe is dedicated to becoming a premier cancer medical services provider for the patients in China by helping to eradicate the cancer diseases by offering internationally recognized clinical research, multidisciplinary treatment care approach and advanced hospital management systems.

CITIC Industrial, the infrastructure unit of CITIC Ltd., is focused on investing in and managing ports and port terminals as well as regional development projects in China.