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Concord Medical To Acquire Four Radiotherapy, Diagnostic Imaging Centers In Hebei Province

Concord Medical has reported that its wholly-owned subsidiary, Shenzhen Aohua Medical Device Leasing has entered into a definitive agreement to acquire 100% of the equity interest in Tianjin Kangmeng Radiology Equipment Management (Tianjin Kangmeng Radiology), a company that manages four radiotherapy and diagnostic imaging centers in Hebei province.

Under the terms of the agreement, Concord Medical will continue to manage the four centers which are equipped with one PET-CT scanner, one IGRT system, one Head Gamma Knife system and one ECT scanner, jointly with Tianjin Kangmeng Radiology’s current hospital partner. The four centers have been in operation since July 2009. Prior to the acquisition, Concord Medical had been managing two centers in Hebei province.

Jianyu Yang, director, president and chief executive officer of Concord Medical, said: “By adding four well-established centers, we are further strengthening Concord Medical’s presence in northern China, an important market for cancer treatment. We are confident that this acquisition will contribute to our growth for years to come.

“As the industry leader with the largest network of radiotherapy and diagnostic imaging centers in China, Concord Medical should continue to benefit from industry consolidation as Chinese patients increasingly look to established players for advanced, reliable cancer treatment.”

Concord Medical Services Holdings is an operator of the network of radiotherapy and diagnostic imaging centers in China. In 2009, Concord Medical had opened 16 new centers, bringing the total number of radiotherapy and diagnostic centers in its network to 88 covering 36 cities in China, as of December 31, 2009.