SHANGHAI, Dec. 11,
2023 /PRNewswire/ -- Zhongchao Inc. (NASDAQ: ZCMD)
("Zhongchao" or the "Company"), a platform-based internet
technology company offering services for patients with cancer and
other major diseases, today announced that Shanghai Zhongxin
Medical Technology Co., Ltd. ("Zhongxin"), of which Zhongchao
consolidates the operations and financial results through a series
of contractual arrangements, has renewed its service agreement (the
"Agreement") with Beijing Public Health Foundation ("BPHF"), a
non-profit organization dedicated to enhancing Chinese citizens'
health through public welfare initiatives and aid programs.
Pursuant to the Agreement, Zhongxin and BPHF extended its
partnership to work together on a patient aid project (the
"Project") to provide medication assistance services for cancer
patients.
The Project offers free Doxorubicin Hydrochloride Liposome
Injections to low-income patients with breast cancer, lymphoma,
Kaposi's sarcoma, ovarian cancer, osteosarcoma, and myeloma based
on their needs. The Project aims to ensure patients to have longer
lasting and more effective medical treatments with less financial
burden. The Project operates through over 300 hospitals and 100
pharmacies, where qualified cancer patients after an assessment can
receive their medications for free. To date, the Project has been
in operation for three years, serving over 6,000 patients and
donating more than 22,000 doses of medication.
Under the supervision and guidance of BPHF, Zhongxin, leveraging
its self-developed patient assistance program technical service
platform, is responsible for providing staff with training and
daily operation management, maintaining the project website,
management for patients, and monitoring and analyzing project
progress. These efforts aim to standardize the workflow and enhance
the operational efficiency of the Project. Additionally, the
platform also performs information management for Project
participants, such as hospitals and pharmacies, to improve
operational efficiency and accuracy.
With the rising incidence of cancer and prolonged life
expectancy brought by new technologies, the cost of innovative
medications and long-term treatments has intensified financial
burden on patients. Zhongchao believes that the Project encourages
and supports patients in need to adhere to sustained treatments
with significant therapeutic effects and less financial burden on
families. Zhongchao remains committed to leveraging its service
capabilities and experience in enhancing treatment efficiency and
quality of life for cancer patients.
About Zhongchao Inc.
Zhongchao Inc. is an offshore holding company incorporated in
the Cayman Islands. It
consolidates the financial results of a variable interest entity,
Zhongchao Medical Technology (Shanghai) Limited, and its subsidiaries (the
"PRC operating entities") through a series of contractual
arrangements. 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 13901629242
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.
