SHANGHAI, March 12,
2024 /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, had successfully provided medication
assistance services to over 7,000 low-income patients suffering
from Systemic Lupus Erythematosus (SLE) and reduced their financial
challenges associated with long-term treatment.
SLE is a chronic inflammatory autoimmune disease that affects
multiple organs. Zhongxin offered Titazepam and Belimumab,
medications used for SLE treatments, to qualified low-income SLE
patients for free through its patient aid projects. Leveraging its
self-developed technical service platform, Zhongxin facilitated
connections among hospitals, pharmacies, corporations, and
non-profit organizations, providing SLE patients with medication
assistance, disease follow-ups, medication management, and health
education services, helping patients maintain adherence to
long-term treatments. Over the course of the patient aid projects,
Zhongxin has coordinated with pharmacies and distributed
approximately 130,000 units of medication to SLE patients,
alleviating the financial burden for over 7,000 SLE patients.
According to the article, "Finding Possible Solutions for the
Management of Systemic Lupus Erythematosus from the Current
Situation and Challenges in China", published on Medical Journal of Peking
Union Medical College Hospital in March
2022, it is estimated that there were about 1 million SLE
patients in China in 2020, with
the characteristics of a large patient volume, a high complication
rate, a heavy social and economic burden, and a general lack of
disease knowledge among patients. SLE patients face significant
healthcare costs. Chines SLE Treatment and Research Group (CSTAR)
reveals SLE patients' monthly disease-related expenditures range
from approximately RMB 1,000 to
RMB 5,000, of which medication costs
account for 59.49%. However, approximately 49.45% of Chinese SLE
patients are unemployed with unstable income, and approximately
91.15% of SLE patients consider that their current treatment
imposes financial burdens.
Mr. Weiguang Yang, Chairman and
CEO of Zhongchao, commented, "We are proudly to announce our
successful medication assistance initiative for SLE patients,
reaffirming our unwavering commitment to ongoing support for
patients facing cancer and other major diseases. Our patient aid
projects and medication assistance services have benefited many
patients, and we are dedicated to expanding these initiatives to
reach more patients in need. We expect to continue our efforts to
innovate and enhance our platform, provide professional services
throughout the patients' healthcare journey, aiming to alleviate
treatment challenges and improve treatment efficiency."
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.
