SHANGHAI, Sept 1, 2022
/PRNewswire/ -- Zhongchao Inc. (NASDAQ: ZCMD) ("Zhongchao" or the
"Company"), an internet technology company offering healthcare
professionals the online healthcare information, professional
training and educational services platform and patient management
service, today announced its newly added business section of
oncology and other major disease management which is a part of its
development strategy to extend its business model from
"Medical-Pharmaceutical" to "Medical-Pharmaceutical-Patient."
Utilizing its accumulated experiences in medical education and
innovation, and extensive resources with medical professionals and
pharmaceuticals, Zhongchao is well positioned to become a platform
that provides patients with major disease management services.
The Company has implemented several strategic initiatives to
transform to the new "Medical-Pharmaceutical-Patient" model. In
2021, Zhongchao launched patient management business focusing on
the professional field of tumor and rare disease through its
subsidiary Shanghai Zhongxin Medical Technology Co., Ltd.
("Zhongxin"), which was the important first step of the transform.
The strategy to extend business model was driven by the increased
demands of "patient-oriented" healthcare in China. Management have been closely observing
and monitoring such service model that is to provide medical
services and disease management tailored to individual patient and
allow patient to actively initiate and participate in health
management and disease treatment since its appearance in 2021. It
is worth to mention that the Company's self-developed patient
management system successfully improved Duration of Therapy ("DOT")
by 40.4% for liver cancer patients, contributing to the
maximum efficiency of drugs, successful treatment and longer
patient survival terms, as compared to patients without using the
management system, based on the data collected by the Company
during a period from November 2017 to
September 2021. As a result, the
Company plans to continue the development of patient management
services through Zhongxin.
As of now, Zhongxin provides comprehensive disease education and
management services for tumor patients receiving treatment. Through
services such as drug aids, disease follow-up visits, medication
management, and cancer education promotion, Zhongxin helps tumor
patients reduce the economic burden of treatment and promote the
completion the treatment process, resulting in the best treatment
effect and improvement the quality of life for the patients. As of
now, more than hundreds of thousand oncology Patients have used
either the application developed by Zhongxin or WeChat network
service platform to connect patients with Zhongxin's hotline center
and service commissioner system and received disease management
support.
Weiguang Yang, Chairman and Chief
Executive Officer of Zhongchao, commented, "As a digital platform
for medical education in China,
Zhongchao continues to provide scientific and reliable medical
information to patients and healthcare professionals. We are
committed to driving digital innovation in healthcare and patient
services, and gradually extending our business model to
"Medical-Pharmaceutical-Patient " for oncology and other major
disease management services. We believe that our new business model
will enable more effective treatment systems for individual
well-being, improved patient experience, optimal allocation of
resources and bring more values to our shareholders going
forward."
About Zhongchao Inc.
Zhongchao Inc. is an offshore holding company incorporated
in the Cayman Islands. It conducts
operations in China through the
contractual arrangements between its wholly owned subsidiary and
PRC operating entities. The PRC operating entities provide online
healthcare information, professional training and educational
services to healthcare professionals under their "MDMOOC" platform
(www.mdmooc.org), offer patient management service on the
professional field of tumor and rare diseases, and operate an
online information platform, Sunshine Health Forums, to general
public. More information about the Company can be found at its
investor relations website at http://izcmd.com.
Safe Harbor Statement
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may," "will," "intend," "should," "believe," "expect,"
"anticipate," "project," "estimate" or similar expressions that do
not relate solely to historical matters, it is making
forward-looking statements. Forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company's expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
following: the Company's goals and strategies; the Company's
future business development; product and service demand and
acceptance; changes in technology; economic conditions; the growth
of the professional training and educational services market in
China and the other international
markets the Company plans to serve; reputation and brand; the
impact of competition and pricing; government regulations;
fluctuations in general economic and business conditions in
China and the international
markets the Company plans to serve and assumptions underlying or
related to any of the foregoing and other risks contained in
reports filed by the Company with the SEC, the length and severity
of the recent coronavirus outbreak, including its impacts across
our business and operations. For these reasons, among others,
investors are cautioned not to place undue reliance upon any
forward-looking statements in this press release. Additional
factors are discussed in the Company's filings with the SEC, which
are available for review at www.sec.gov. The Company undertakes no
obligation to publicly revise these forward–looking statements to
reflect events or circumstances that arise after the date
hereof.
For more information, please contact:
At the Company: Pei Xu, CFO
Email: xupei@mdmooc.org
Phone: +86 21-3220-5987
Investor Relations: Sherry Zheng
Weitian Group LLC
Email: shunyu.zheng@weitian-ir.com
Phone: +1 718-213-7386
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SOURCE Zhongchao Inc.