Concord Medical (CCM) Updates on Chang'an Hospital, Still Sees Deal Closing in H112

Concord Medical Services Holdings Limited (NYSE: CCM), updated its progress on the pending acquisition of Chang'an Hospital.

Since the third quarter of 2011, the Company has completed the following work relating to the acquisition of Chang'an Hospital:

• Reviewed the financial and accounting records;
  
• Conducted due diligence work related to the licenses and other legal documents;
  
• Jointly engaged an appraisal company to conduct independent asset evaluation of the target;

The appraisal work is expected to complete during the first quarter of 2012. Also to be completed during the quarter will be to:

• hire a top independent international accounting firm to conduct required financial due diligence work;
  
• finalize the deal structure, based on the results of the appraisal and due diligence work;
  
• reach final agreement on the valuation and other deal terms;
  
• seek the necessary approval from the board and shareholders of both parties.

The deal is expected to close no later than H112.

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