SHANGHAI, Sept. 28,
2022 /PRNewswire/ -- Zhongchao Inc. (NASDAQ:
ZCMD) ("Zhongchao" or the "Company"), a platform-based internet
technology company offering services to patients with oncology and
other major diseases, today announced the establishment of
Chongqing Xinjiang Pharmaceutical Co., Ltd. ("Xinjiang
Pharmaceutical") which mainly engages in pharmaceutical import and
export trade, OME (original equipment manufacturer) production,
medical consumables operation, and pharmaceutical internet
services. Zhongchao expects to further improve and complement its
business model of "Medical-Pharmaceutical-Patient" as Xinjiang
Pharmaceutical plays an important role in supplying quality
medications for patients.
The Company has implemented a few steps in extending its
business model from "Medical-Pharmaceutical" to
"Medical-Pharmaceutical-Patient" in order to meet the increasing
demands of patient-oriented healthcare in China. Followed by the launch of Zhixun
Internet Hospital to provide standardized internet healthcare
services for patients with oncology or other major diseases,
Zhongchao established Xinjiang Pharmaceutical to aim at realizing
medications accessibility and affordability for those patients.
Xinjiang Pharmaceutical plans to cooperate with Zhixun Internet
Hospital and other internet hospitals to build a 2B2C (to business
and to customer) pharmaceutical procurement platform, aiming to
streamline the delivery of medicines from pharmaceutical factories
to retail ends. This approach will enable Xinjiang Pharmaceutical
to supply domestic and international high-quality and
cost-effective drugs, improving drug accessibility and lowering
medication cost.
Weiguang Yang, Chairman and Chief
Executive Officer of Zhongchao, commented, "We are excited to
announce the establishment of Xinjiang Pharmaceutical, as it is
another important step for us to improve our model of
"Medical-Pharmaceutical-Patient" in the field of oncology and other
major diseases. We expect to leverage our established networks and
resources with pharmaceutical companies to form a pharmaceutical
service system covering the whole industrial chain to enhance drug
accessibility and affordability for patients. We are committed to
contributing to the improved patient experience."
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. Zhongchao Inc. is a platform-based internet
technology company offering services to patients with oncology and
other major diseases. 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 services in the
professional field of tumor and rare diseases through Zhongxin,
offer internet healthcare services through Zhixun Internet Hospital, and
pharmaceutical services through Xinjiang Medical 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.