Welcome to our dedicated page for Concord Medical news (Ticker: CCM), a resource for investors and traders seeking the latest updates and insights on Concord Medical stock.
Concord Medical Services Holdings Limited (NYSE: CCM) is a China-based healthcare provider focused on oncology. Its public announcements describe a full cycle of premium oncology services, including cancer diagnosis, treatment, education and prevention, delivered through self-owned cancer hospitals and clinics and a network of partnered hospitals across China. The company’s news flow provides insight into how it develops and operates these oncology services.
News about Concord Medical frequently covers its progress in proton therapy and precision radiation therapy. Recent releases highlight Guangzhou Concord Cancer Hospital’s commencement of proton therapy operations, specialized treatment protocols for conditions such as nasopharyngeal carcinoma and central nervous system tumors, and pediatric oncology cases. Another subsidiary announcement reports completion of what it describes as China’s first proton therapy for choroidal malignant melanoma at Guangzhou Concord Cancer Center, using pencil beam scanning proton therapy with real-time guidance.
Investors and observers can also find updates on regulatory and licensing milestones, such as the granting of a large medical equipment procurement license for proton equipment and the approval of a Registration Certificate for Medical Device for proton therapy equipment related to the company’s operations. These items help explain the timing and scope of Concord Medical’s proton therapy services.
In addition, Concord Medical’s news includes interim financial results, details of its annual and special shareholder meetings, changes in governance, and developments at its listed subsidiary Concord Healthcare Group Co., Ltd. on the Hong Kong Stock Exchange. For users following CCM, this news page brings together earnings releases, clinical and technology updates, regulatory announcements and corporate actions that shape the company’s oncology-focused business over time.
Concord Medical Services Holdings Limited (NYSE: CCM) announced an investment of RMB400 million (approximately US$62.2 million) in its subsidiary, Meizhong Jiahe Medical Science & Technology Development Group. The investment, led by WisdoMont Capital, aims to enhance the development and management of cancer hospitals and diagnostic centers in China. Meizhong Jiahe focuses on high-quality cancer care, including advanced proton therapy treatments in cities like Beijing, Shanghai, and Guangzhou. This funding solidifies Concord Medical's leadership in China's expanding cancer treatment market.
Concord Medical Services Holdings Limited (CCM) announced the opening of its Guangzhou Concord Cancer Center (GCCC), certified as a tertiary specialty hospital by the National Health Commission. Located in Sino-Singapore Guangzhou Knowledge City, GCCC meets the highest domestic medical standards and features advanced technologies like the Probeam proton system for precise cancer treatment. Operated by a subsidiary, GCCC aims to offer comprehensive cancer care, including prevention, diagnosis, and recovery services. This milestone enhances Concord Medical's capabilities within the growing cancer treatment market in China.
Concord Medical Services Holdings Limited (NYSE: CCM) announced a delay in filing its 2020 Annual Report with the SEC, originally due by May 17, 2021. The late filing was communicated via Form 12b-25 on April 30, 2021. The NYSE notified Concord Medical that it is not compliant with its listing requirements due to this delay, and the company is under review for up to six months. If the report is not filed within this timeframe, delisting could occur. As of now, the anticipated filing date remains unknown.
On May 21, 2021, Concord Medical Services Holdings Limited (NYSE: CCM) announced changes in its Board of Directors. Mr. Denny Lee resigned as independent director and chair of the audit committee, while Mr. Qing Pan also stepped down. Both affirmed no disagreements with the Board. New appointments include Mr. Boxun Zhang as independent director and chair of the audit committee, and Mr. Yue Yu as a director. Zhang brings experience from Jiaxin Jinhe Investment Management, while Yu comes from WisdoMont Asset Management, enhancing the Board's financial expertise.
Concord Medical Services Holdings Limited (NYSE: CCM) has announced the sale of a 90% equity interest in Concord Healthcare Singapore Pte Ltd for approximately SG$52.2 million. The transaction, finalized in November 2020, relinquishes Concord Medical's management control over Concord International Hospital (CIH). The company's board believes the sale price reflects fair market value, supported by an independent appraisal. This divestment allows Concord Medical to focus on developing cancer hospitals in China, including the upcoming Guangzhou Concord Cancer Center set to open in early 2021.
Concord Medical Services Holdings Limited (NYSE: CCM) has announced its 2020 annual general meeting of shareholders, scheduled for December 21, 2020, at 10:00 a.m. in Beijing. The meeting will not include proposals for shareholder approval but aims to discuss company affairs with management. The shareholder record date is December 1, 2020. Concord Medical specializes in advanced cancer care, operating a network of hospitals and diagnostic centers across China, including 27 centers in 20 cities as of June 30, 2020.
Concord Medical Services Holdings Limited (CCM) announced a significant milestone with the hoisting ceremony for the proton therapy system at the Guangzhou Concord Cancer Center on September 30, 2020. This advanced treatment technology aims to benefit cancer patients in China by offering targeted treatments with minimal damage to surrounding tissues, particularly for cancers near critical areas. The Center is part of a collaborative project with Sun Yat-sen University and aims to serve as a leading cancer treatment facility in Southern China, covering 40,000 square meters with 400 patient beds.
Concord Medical Services Holdings Limited (NYSE: CCM) announced a strategic partnership with Macao Kiang Wu Hospital on August 26, 2020. The alliance aims to enhance cancer treatment, education, and research, particularly in proton radiation therapy, leveraging the strengths of both institutions. This collaboration aligns with the "Outline for the Development of Guangdong, Hong Kong and Macao Bay Area" issued by the PRC State Council. Concord Medical operates a network of advanced cancer hospitals and centers across China, focusing on multidisciplinary cancer care.
Concord Medical Services Holdings Limited (NYSE: CCM) held a topping out ceremony for its Shanghai Concord Cancer Center on August 29, 2020. This comprehensive cancer hospital is designed by HDR and aims to integrate advanced diagnosis and treatment methods. Spanning 46,666 sq.m. with a total gross floor area of around 160,000 sq.m., the Center will have a capacity of 400 patient beds and feature state-of-the-art proton equipment and linear accelerators. Strategically located in Shanghai New Hongqiao International Medical Park, it is set to be the leading oncology facility in the area.
Concord Medical Services Holdings Limited (NYSE: CCM) reported its unaudited consolidated financial results for the first half of 2020, revealing total net revenues of RMB83.0 million ($11.7 million), a 16.6% decline from the previous year. The company suffered a gross loss of RMB3.5 million ($0.5 million) compared to a gross profit of RMB3.1 million in the same period last year. Net loss attributable to shareholders was RMB128.8 million ($18.2 million), showing a slight improvement from RMB140.1 million in 2019. The newly opened Imaging Diagnosis Center is expected to enhance future revenue growth.
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