GEHC signs MOU with Concord Medical to form preferred strategic partnership in China

Concord Medical Services Holdings Limited ("Concord Medical" or the "Company") (NYSE: CCM), the operator of the largest network of radiotherapy and diagnostic imaging centers in China, today announced that it has signed an Memorandum of Understating ("MOU") with GE Healthcare ("GEHC"), through its subsidiaries General Electric International Operations Company, Inc. and GE Medical Systems Trade & Development (Shanghai) Co., Ltd., to form a preferred strategic partnership in China.

Under the MOU, Concord Medical and GEHC have agreed to cooperate in academic and marketing programs, and plan to jointly organize new seminars and conferences in China to create more opportunities for scientific exchanges. Concord Medical will partner with GEHC to enter and expand into rural and primary care markets in China, through financial leasing or other mutually beneficial business strategies.

The new partnership also includes a preferred supplier relationship in which Concord Medical will be able to purchase GEHC's highly specialized healthcare products at the best possible prices. The GEHC products that will be supplied under the MOU include imaging equipment, monitoring devices and their after-sales services, solutions for healthcare IT solutions, clinical department solutions, Telemed, EMR, hospital integration platforms, performance solutions, consumables, and others. Additionally, GEHC will provide Concord Medical with opportunities to provide financing related services for customers of GEHC in China.

Dr. Jianyu Yang, President and Chief Executive Officer of Concord Medical, said, "We are pleased to be partnering with GE Healthcare, one of the world's most trusted names in healthcare equipment and services. Our strategic partnership will leverage the technological, financial, and management strengths of both GE Healthcare and Concord Medical. As the market leader in radiotherapy and diagnostic imaging centers in China, we will help pave the way for GE Healthcare's further penetration into the Chinese healthcare market. At the same time, we look forward to introducing GE Healthcare's renowned medical products in our treatment centers and facilities for Chinese patients."