Upcoming AWS Coverage on Community Health Systems Post-Earnings Results
LONDON, UK / ACCESSWIRE / May 22, 2017 / Active Wall St. blog coverage looks at the headline from Concord Medical Services Holdings Ltd. (NYSE: CCM) as the Company announced on May 19, 2017, that its subsidiary, Meizhong Jiahe Hospital Management Corp. Ltd, previously known as CMS Hospital Management Co., Ltd, jointly with Guofu Huimei Investment Management Limited Partnership, has proposed to acquire Shanghai ProMed Cancer Center, LLC by purchasing existing, and subscribing for newly released, registered capital of ProMed. Post the acquisition, MHM will hold 31.64% of the equity interest in ProMed Cancer Center. Register with us now for your free membership and blog access at:
One of Concord Medical Services Holdings' competitors within the Hospitals space, Community Health Systems, Inc. (NYSE: CYH), announced on May 01, 2017, its financial and operating results for the three months ended March 31, 2017. AWS will be initiating a research report on Community Health Systems in the coming days.
Today, AWS is promoting its blog coverage on CCM; touching on CYH. Get all of our free blog coverage and more by clicking on the link below:
Breaking down the Announcement
This announcement is viewed as a critical point for the Company's long-term strategy of developing a specialized cancer hospital in China. Post the acquisition, ProMed will be the flagship cancer center under Meizhong Jiahe brand and will deliver an additional regional advantage, an independent medical institution license and high-end equipment. Additionally, the Company will upgrade the service procedure and clinical skills to offer best-in-class treatment. Concord Medical will enable quality management and talent training system by cooperating with prominent cancer treatment institutions across the world, by providing better cancer diagnosis and treatment.
ProMed has a comprehensive portfolio of advanced medical equipment, such as linear accelerators, Cts, MRIs, Mo-target mammography, CDFI, and telepathology consultation systems. Located on the campus of Shanghai Ruijin Hospital, Luwan Brand, the cancer center offers a multitude of medical resources for the patients. Promed's outpatient cancer clinic offers medical services including diagnostic imaging, radiation oncology, medical oncology such as chemotherapy, targeted therapy, and immunization therapy to its patients. Additionally, ProMed is collaborating with multiple international cancer treatment institutions to enable better patient cure rate and life expectancy. ProMed will deliver high-end clinical tumor diagnosis and treatment services to public medical insured patients and business insured patients as well.
Concord Growth Prospects
Concord Medical is a leading specialty hospital management solution provider and operator of China's largest network of radiotherapy and diagnostic imaging centers. The Company currently operates through a network of 123 centers with 73 hospital partners across 52 cities and 25 provinces and administrative regions in China. Concord delivers radiotherapy and diagnostic imaging equipment in long-term collaboration with top-tier hospital in China and manages the operational end of these test centers. The Company acquired Concord Cancer Hospital, a private hospital in Singapore, April 2015 under an attempt to expand its high-end cancer hospital development strategy and oversea business extension.
Concord Medical recently signed an agreement with Ion Beam Applications S.A., for the purchase, installation, and maintenance of proton theory which is scheduled to be installed at Beijing Proton Medical Center. The Beijing Medical Center is jointly developed by Concord Medical and China-Japan Friendship Hospital. IBA's proton theory has been used to treat more cancer patients that any other Company in the world. This extensive experience and knowledge of proton theory treatment have enabled IBA to ensure that more patients are able to get this highly accurate form of cancer treatment.
In January 2016, the Company acquired 100% equity interest in Beijing Century Friendship and an additional 55% equity interest in Beijing Proton Medical Center with a total consideration of RMB 100.6 million and ultimately held 80% equity interest in Beijing Proton Medical Center.
At the close of trading session on Friday, May 19, 2017, Concord Medical Services' stock price was marginally down by 0.72% to end the day at $4.16. A total volume of 10.58 thousand shares were exchanged during the session. The Company's share price has surged 15.88% in the past twelve months. Concord Medical's stock has a net market capital of $181.21 million as per Friday's last closing price.
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