BEIJING, May 19, 2017 /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 its subsidiary, Meizhong Jiahe Hospital Management Corp. Ltd ("MHM"), previously known as CMS Hospital Management Co., Ltd, jointly with Guofu Huimei Investment Management Limited Partnership ("Guofu Huimei"), proposed to acquire Shanghai ProMed Cancer Center ("ProMed"), LLC by purchasing existing, and subscribing for newly increased, registered capital of ProMed. The acquisition is pending necessary shareholder approval and governmental filings. MHM will hold 31.64% of the equity interest in ProMed after the completion of the acquisition.

ProMed is equipped with advanced medical equipment such as linear accelerators, CTs, MRIs, Mo-target mammography, CDFI and telepathology consultation systems. It is located at the campus of Shanghai Ruijin Hospital, Luwan Branch which conveniently provides a wealth of medical resources for patients. As an outpatient cancer clinic, ProMed medical services including diagnostic imaging, radiation oncology, medical oncology such as chemotherapy, targeted therapy and immunization therapy to its patients. In addition, ProMed is developing strategic cooperation with internationally renowned cancer treatment institutions to advance its service procedure, clinical skills, quality management and talent training system, aiming to improve patient cure rate and life quality. ProMed will provide high-end clinical tumor diagnosis and treatment services to public medical insured patients and business insured patients as well.

Dr. Jianyu Yang, Chairman and CEO of Concord Medical, commented, "The acquisition of ProMed is a critical point for the Company's long-term strategy of developing a specialized cancer hospital chain in China. The unique regional advantage, independent medical institution license and high-end equipment ensures that ProMed will be the flagship cancer center under Meizhong Jiahe brand. Besides, we will upgrade the service procedure, clinical skills, quality management and talent training system by cooperating with internationally renowned cancer treatment institutions, for providing better cancer diagnosis and treatment.

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