ANNOUNCES OPENING OF FIRST SATELLITE CLINIC
Bethesda, Maryland January 20, 1999 Chindex International, Inc. (NASDAQ:CHDX) (U.S.-China Industrial Exchange, Inc.), the leading independent American company providing Western healthcare products distribution and medical services in the Peoples Republic of China, today announced it has received the first major expansion of the operating license for its private hospital, Beijing United Family Hospital (Beijing United), from the Chinese government health authorities in Beijing.
The new scope of operations for the unique hospital will include the first in a series of planned satellite clinics to operate under the Beijing United banner. The hospitals Dental Clinic and Physical Therapy unit will begin offering services immediately in newly-constructed facilities near the main hospital building.
Roberta Lipson, Chindex Chairperson, President and CEO, said from Beijing, "We have been extremely pleased with the startup operations of Beijing United last year. The new satellite clinic services will broaden the financial base of the facility significantly. Through our investment in private healthcare services we are bringing a much needed level of premium quality primary care to the expatriate and local Chinese communities in Beijing. We are proud to see Beijing United serving the community and well on the road to contributing to our corporate financial performance. Our reputation is growing as the first and only operational foreign invested hospital in China."
Mr. Peter Liu, Managing Director of Beijing United, commented on the expansion and Beijing Uniteds startup operations: "We have brought Beijing Uniteds operations online very quickly in the last twelve months. There have now been nearly 10,000 outpatient visits, and 70 births at the hospital. We are routinely providing comprehensive womens, mens, childrens and executive healthcare services. We are hopeful that this and future satellite clinics will help us to more than double our healthcare services operations in fiscal 1999. The hospital is pursuing relationships with many other healthcare institutions in China as well as internationally."
Beijing United, a joint venture between Chindex and the Chinese Academy of Medical Sciences investment arm, serves as the flagship of Chindexs primary healthcare development program, the Chindex Healthcare Network, which entails plans to open five additional interconnected family-oriented primary care hospitals with a system of local area satellite clinics affiliated with each facility. Through the Chindex Healthcare Network, Chindex plans to offer international standard healthcare services at price levels accessible to Chinas growing urban middle class families.
Chindex is a leading American company in healthcare in the Greater Chinese marketplace including Hong Kong and Macau. It provides representative and distribution services to a number of multinational companies including Acuson, Johnson & Johnson, and Kendall Healthcare Products. It also operates a private hospital corporation in China. With over sixteen years experience, 200 employees, and operations in the United States, China, and Hong Kong, the Chindex strategy is to expand its cross-cultural reach by providing leading edge technologies, quality products and services to Greater Chinas professional communities.
The statements in this press release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties, including risks associated with uncertainties pertaining to customer orders, demand for products and services, development of markets for the Companys products and services and other risks identified in the Companys SEC filings. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.