SHANGHAI, Nov. 3, 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 that one of the China
operating entities of which the Company consolidates the financial
results with through certain contractual arrangements, Chongqing
Xinjiang Pharmaceutical Co., Ltd. ("Xinjiang Pharmaceutical") has
obtained a series of pharmaceutical related licenses, which lay a
solid foundation for Zhongchao to develop pharmaceutical services
and expand to the pharmaceutical market. The Company believes that
the operation of Xinjiang Pharmaceutical will further strengthen
the upgraded "Medical-Pharmaceutical-Patient" model.
Since the beginning of 2022, embracing the development
opportunity of a series of investment promotion of pharmaceutical
industry initiated by the Chongqing government, Xinjiang Pharmaceutical
has been able to develop rapidly. Xinjiang Pharmaceutical has
obtained Pharmaceutical Trade License, Medical Device Trade
License, Qualification Certificate for Drug Information Service
over the Internet and other related licenses. Xinjiang
Pharmaceutical plans to engage in pharmaceutical import and export
trade, OME (original equipment manufacturer) production, medical
consumables operation, and pharmaceutical internet services, aiming
to continuously expand the industry chain and supply chain of the
pharmaceutical market in China.
Meanwhile, it remains committed to becoming a competitive
technology-based pharmaceutical service enterprise.
Weiguang Yang, Chairman and Chief
Executive Officer of Zhongchao, commented, "The rapid development
of Xinjiang Pharmaceutical will further promote our strategy of
providing pharmaceutical services for patients with oncology or
other major diseases. Over the past ten years, Zhongchao has
accumulated abundant resources of medical education and platform
and established long-term and stable strategic partnerships with
many domestic and foreign pharmaceutical companies. We intend to
integrate the high-quality resources we own to create a
pharmaceutical services system covering the whole industry chain.
We aim to not only improve the drug accessibility and affordability
for patients but bring in greater social economic benefits."
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.