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 it has engaged The University of Texas MD Anderson Cancer Center ("MD Anderson") as a consultant for its cancer hospital projects under planning in Shanghai and Beijing.
According to the agreement, MD Anderson will provide consulting services to Concord Medical with respect to the enhancement of its cancer care program for the Company's two projects, Shanghai Concord Cancer Hospital and Beijing Concord Cancer Hospital, which will be located in Shanghai New Hongqiao International Medical Center and Beijing International Medical Center, respectively. This agreement is an arm's-length contract at regular commercial terms.
The consulting agreement is part of Concord Medical's collaboration with MD Anderson to bring the best practice in cancer treatment to China. Through the collaboration, MD Anderson will provide technical management and medical support to Concord Medical's cancer hospitals. The analyses and recommendations MD Anderson provides Concord Medical will be based on MD Anderson's unique expertise in the appropriate utilization, applicability, and suitability of various modalities in the treatment of cancer using a multi-disciplinary approach.
Concord Medical acquired 19.98% ownership of The MD Anderson Proton Therapy Center in Houston, Texas at the end of 2012.
Shanghai Concord Cancer Hospital plans to open 400 beds and adapt the domestic and internationally advanced therapeutic methods, medical process and management system. It plans to install the most advanced cancer diagnostic and treatment equipment and multidiscipline system. When completed, the hospital will become a leading cancer hospital in China and Asia.
Beijing Concord Cancer Hospital will be wholly owned by Concord Medical and will provide comprehensive cancer therapies, including surgery, chemotherapy, radiotherapy, and gene therapy to cancer patients. Concord Medical will provide management support, treatment, technology, and research to the hospital, including protocols and clinical practice guidelines, by collaborating with top-notch cancer institutions around the world. Beijing Concord Cancer Hospital will be part of Beijing International Medical Center (BIMC), a joint project initiated by Beijing municipal government, the Ministry of Health, and several other Chinese government agencies to introduce world-standard medical services to China.
Dr. Jianyu Yang, the Chairman and CEO of Concord Medical, said, "We are very pleased to have MD Anderson provide strategic consulting services for our Beijing and Shanghai hospital projects. MD Anderson is an internationally renowned cancer research, treatment, and education center and our collaboration will deliver to Concord Medical the substantial knowledge and expertise in appropriate development and operation of oncology programs for the treatment of patients."
"MD Anderson's mission is to eliminate cancer across the world and we welcome this opportunity to collaborate with a prestigious organization like Concord Medical to elevate the quality of cancer care in China," said Amy Hay, MD Anderson's Vice President of Business Development.
Concord Medical Services Holdings Limited