Boston, MA 03/17/2014 (wallstreetpr) – Concord Medical Services Hldg Ltd (ADR) (NYSE:CCM) is a provider of radiotherapy and diagnostic imaging services in China. The company has been growing its imaging centers steadily and as of December 2012, it had 136 centers in 76 hospitals across 53 cities. The centers are located in 24 different Chinese provinces and administrative regions. It is worth noting that the hospitals which the company serves are among the highest ranked by size and quality – 3A hospitals.
The company has also been making strategic acquisitions to boost its service provision business and also expand revenue and geographic coverage. The notable acquisitions are the June 2012 deals for Shanghai Medstar and Cyber Medical, without forgetting Chang’an Hospital in which it holds majority stake at 52 percent. Still in 2012, the company acquired 19.98 percent equity stake in The University of Texas in the cancer therapy center.
Concord Medical Services Hldg Ltd (ADR) (NYSE:CCM) were last seen trending up 9.44 percent to $8.06 in the early afternoon Monday. Earlier on in the day the shares changed hands between $7.90 and $8.63. In the past year the shares traded in the range of $4 – $10.08.
Concord Medical Services Hldg Ltd (ADR) (NYSE:CCM) was announced as one among nine stocks that will be added to the NASDAQ Golden Dragon China Index, effective before markets open Monday 24. This new development followed results of quarterly re-ranking of which some companies will be dropped from the index and others added.
It is the news of the addition of Concord Medical into the index that has powered up the shares of the stock.
The NASDAQ China Index provides insightful and accessible unique economic opportunities in China, while still maintaining the transparency standards of the U.S. listed stocks.
Stocks to be added
Concord Medical Services Hldg Ltd (ADR) (NYSE:CCM) will be joined in the NASDAQ China Index by eight other companies selected at the quarterly re-ranking. The companies making it to the prestigious listing include China Mobile Games and Entertainment Group Limited (NASDAQ:CMGE), Xueda Education Group (NYSE:XUE), China HGS Real Estate, Inc. (NASDAQ:HGSH), Montage Technology Group Limited (NASDAQ:MONT), ChinaCache International Holdings Ltd. (NASDAQ:CCIH), Qunar Cayman Islands Limited (NASDAQ:QUNR), 58.com Inc. (NYSE:WUBA) and China Finance Online Co. Limited (NASDAQ:JRJC).