Concord Medical Services Holdings Limited announced an investment of RMB400.0 million (US$62.2 million) in Concord Medical’s subsidiary, Meizhong Jiahe Medical Science & Technology Development Group Co., Ltd. (“Meizhong Jiahe”) from several investors led by WisdoMont Asset Management (Shanghai) Co., Ltd. (“WisdoMont Capital”), a renowned investment institution and one of the existing shareholders of Meizhong Jiahe.
As the most important operating platform of Concord Medical, Meizhong Jiahe focuses on the development and management of comprehensive cancer hospitals and standalone radiotherapy and diagnostic imaging centers in China. Meizhong Jiahe is committed to provide its patients with high-quality patient-centered multidisciplinary cancer care services. In addition, Meizhong Jiahe provides the cutting-edge proton therapy treatment option in the Company’s Beijing, Shanghai and Guangzhou cancer hospitals. Meizhong Jiahe is dedicated to become a premier cancer medical services provider for the patients in China by helping to treat the cancer diseases by offering international recognized clinical research, multidisciplinary treatment care approach and advanced hospital management systems.
“Concord Medical has rapidly developed a leadership position in the large and fast-growing market in China for cancer treatment,” said Mr. Yue Yu, Chief Executive Officer and Co-founder of WisdoMont Capital. “What the team of Concord Medical has developed in the recent years is truly impressive, and we are excited to have an opportunity working with its highly specialized management team to create a leader in the market. Concord Medical is a great example of the type of founder-led, capital-efficient business that we would like to invest in.”