Concord Medical Services Closes on Acquisition of Ownership Interest in MD Anderson Cancer Center Proton Therapy Center
Concord Medical Services (NYSE: CCM) announced today that it has closed the acquisition of 19.98% of indirect ownership of The University of Texas MD Anderson Cancer Center Proton Therapy Center (MD Anderson Proton Therapy Center).
The company announced the signing of a definite agreement in connection with the acquisition on December 11, 2012. MD Anderson Proton Therapy Center is a leading proton treatment center in the world. Concord Medical plans to invest and operate two proton centers in China. The transaction will enable Concord Medical to expand its expertise and knowledge base in preparation for the operation of future proton centers.
After the closing, Concord Medical becomes the second largest owner of the MD Anderson Proton Therapy Center, behind MD Anderson Cancer Center. Concord Medical will join both the Board of Directors of the PTC-Houston Management, LP, the general partner of the center, and the center's Advisory Committee.
"The acquisition of interest in MD Anderson Proton Therapy Center plays a key role in accelerating Concord Medical's strategic plan to build and operate proton centers