Concord Healthcare Announces Approval Granted to the Application for the Proton Therapy Equipment Registration Certificate

Rhea-AI Summary

Concord Medical Services Holdings (NYSE: CCM) announced that China's National Medical Products Administration has approved the Registration Certificate for Medical Device for their proton therapy equipment on December 6, 2024. The company's Guangzhou Concord Cancer Center completed the proton equipment installation in September 2020, began clinical trials in November 2022, and obtained the large medical equipment procurement license in September 2024. With this final approval, the center plans to commence proton therapy treatment services soon.

The news was also announced by Concord Healthcare Group, CCM's subsidiary listed on the Hong Kong Stock Exchange (2453.HK) since January 9, 2024.

Positive

• Received regulatory approval for proton therapy equipment Registration Certificate
• Completed all necessary regulatory requirements to begin proton therapy treatments
• Ready to launch new revenue-generating treatment service

Negative

• None.

News Market Reaction – CCM

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On the day this news was published, CCM declined 1.22%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

BEIJING, Dec. 9, 2024 /PRNewswire/ -- Concord Medical Services Holdings Limited ("Concord Medical" or the "Company") (NYSE: CCM), a healthcare provider specialized in cancer treatment, research, education and prevention in China, today announced that the National Medical Products Administration of the People's Republic of China has granted approval to the application for the Registration Certificate for Medical Device for the proton therapy equipment (the "Registration Certificate") made by the Company's equipment supplier on December 6, 2024.

As previously disclosed in the Company's annual report for the fiscal year ended December 31, 2023, Guangzhou Concord Cancer Center ("Guangzhou Hospital"), a PRC subsidiary of the Company offering comprehensive cancer care services, has completed the installment of the proton equipment in September 2020 and commenced its clinical trial in November 2022. Guangzhou Hospital has also subsequently obtained the large medical equipment procurement license for its proton equipment in September 2024. Upon obtaining the approval for the Registration Certificate, Guangzhou Hospital plans to start its proton therapy treatment services at its earliest convenience after necessary preparations.

Concord Healthcare Group Co., Ltd. ("Concord Healthcare"), a subsidiary of the Company listed on the Main Board of The Stock Exchange of Hong Kong Limited (the "HKSE") under the stock code 2453.HK, also announced on December 9, 2024 that the approval for Registration Certificate was granted. The Company previously announced the listing of Concord Healthcare's H shares on the HKSE on January 9, 2024. The information related to Concord Healthcare's Transactions on the HKSE is accessible through the HKSE's website at www.hkexnews.hk.

About Concord Medical

Concord Medical Services Holdings Limited is a healthcare provider featuring a full cycle of premium oncology services including cancer diagnosis, treatment, education and prevention. The Company focuses on providing multidisciplinary cancer care in all aspects of oncology healthcare services in its cancer hospitals and equipping them with technologically advanced equipment such as the state-of-the-art proton therapy system. The Company is striving to improve the quality and accessibility of cancer care through its network of self-owned cancer hospitals and clinics as well as partnered hospitals across China. For more information, please see http://ir.ccm.cn.

About Concord Healthcare

Concord Healthcare is an oncology healthcare provider in China. Concord Healthcare serves both cancer patients through self-owned medical institutions and third-party medical institutions through medical equipment, software and related services. In its self-owned medical institutions, Concord Healthcare provides a full spectrum of oncology healthcare services to cancer patients across the entire care continuum, leveraging its multidisciplinary team specialists and diagnosis and treatment capabilities featuring precision radiation therapy. Through its medical equipment, software and related services, Concord Healthcare serves a widespread network of enterprise customers, primarily hospitals, with integrated oncology-related services, including primarily sales and installing of medical equipment and software, management and technical support, and operating lease.

Safe Harbor Statement

This announcement contains forward-looking statements. These forward-looking statements can be identified by words or phrases such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar expressions. Forward-looking statements are inherently subject to uncertainties and contingencies beyond the Company's control and based upon premises with respect to future business decisions, which are subject to change. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

View original content:https://www.prnewswire.com/news-releases/concord-healthcare-announces-approval-granted-to-the-application-for-the-proton-therapy-equipment-registration-certificate-302326028.html

SOURCE Concord Medical Services Holdings Limited

FAQ

When did Concord Medical (CCM) receive approval for its proton therapy equipment in China?

Concord Medical received approval for its proton therapy equipment Registration Certificate from China's National Medical Products Administration on December 6, 2024.

What major milestones has CCM's Guangzhou Hospital achieved for its proton therapy program?

The Guangzhou Hospital completed equipment installation in September 2020, started clinical trials in November 2022, obtained the procurement license in September 2024, and received the Registration Certificate in December 2024.

When can Concord Medical (CCM) begin offering proton therapy treatments at Guangzhou Hospital?

Following the Registration Certificate approval, Guangzhou Hospital plans to start offering proton therapy treatment services after completing necessary preparations.