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Concord Medical Announces Withdrawal of Going Private Proposal

Charles Gross

Concord Medical Services Holdings Limited (NYSE: CCM) announced Monday, that its board of directors (the "Board") has received a letter from Mr. Jianyu Yang, chairman and chief executive officer of the Company, Morgancreek Investment Holdings Limited ("Morgancreek"), and Blue Ocean Management Limited ("Blue Ocean", together with Mr. Yang and Morgancreek, the "Buyer Parties"), stating that the Buyer Parties would withdraw the non-binding going private proposal (the "Proposal") dated July 11, 2016, with immediate effect. The letter stated that, after careful consideration, the Buyer Parties had determined not to proceed with the Proposal under the current circumstances. The letter does not contain any statement with respect to whether any of the Buyer Parties intends to make any similar proposal at any time.

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