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Concord Medical Announces Agreement to Sell Equity Interest in Beijing Allcure Medical Information Technology Ltd

BEIJING, June 5, 2018 /PRNewswire/ -- Concord Medical Services Holdings Limited ("Concord Medical" or the "Company") (NYSE: CCM), a leading specialty hospital management solutions provider and operator of a network of radiotherapy and diagnostic imaging centers in China, today announced that Beijing Concord Medical Technology Co., Ltd, a subsidiary of Concord Medical, entered into an equity interest transfer agreement with Tibet Allcure Information Technology Ltd on June 5, 2018.  Beijing Concord Medical Technology Co., Ltd will sell a 16% equity interest in Beijing Allcure Medical Information Technology Ltd. to Tibet Allcure Information Technology Ltd.

About Concord Medical

Concord Medical Services Holdings Limited is a leading specialty hospital management solutions provider and operator of a network of radiotherapy and diagnostic imaging centers in China. As of December 31, 2017, the Company operated a network of 44 centers with 30 hospital partners that spanned 29 cities and 18 provinces and administrative regions in China. Under long-term arrangements with top-tier hospitals in China, the Company provides radiotherapy and diagnostic imaging equipment and manages the daily operations of these centers, which are located on the premises of its hospital partners. The Company also provides ongoing training to doctors and other medical professionals in its network of centers to ensure a high level of clinical care for patients. For more information, please see http://ir.ccm.cn.

Safe Harbor Statement

This announcement contains forward-looking statements. These forward-looking statements can be identified by words or phrases such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar expressions. Forward-looking statements are inherently subject to uncertainties and contingencies beyond the Company's control and based upon premises with respect to future business decisions, which are subject to change. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

CONTACT:

Concord Medical Services
Ms. Carol TIAN (Chinese and English)
+86-10-5903-6688 (ext. 608)
yuan.tian@ccm.cn 

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SOURCE Concord Medical Services Holdings Limited