Zhongchao Inc. Announces the Establishment of a New Subsidiary Ningxia Zhongxin Internet Hospital Co., Ltd. for Patient Manag...

SHANGHAI, July 1, 2021 /PRNewswire/ -- Zhongchao Inc. (NASDAQ: ZCMD) ("Zhongchao" or the "Company"), a healthcare services company offering patient management, online healthcare information, professional training and educational services, announced the establishment of a new subsidiary Ningxia Zhongxin Internet Hospital Co., Ltd. ("Zhongxin Ningxia") under Shanghai Zhongxin Medical Technology Co., Ltd., a subsidiary of the Company.  Zhongxin Ningxia will build an internet hospital ("Zhongxin Internet Hospital") focusing on inpatient management services. It is another important initiative for Zhongchao's patient management business since the launch of its patient management service on the professional field of tumor and rare diseases in May 2021.

Combined with Zhongchao's current patient management services for outpatients, the establishment of Zhongxin Internet Hospital will enable Zhongchao to form an all-in-one patient management service (the "All-in-One Service") from diagnosis, treatment solutions, treatment engagement management to living improvement. The All-in-One Service will support continuity in treatment resulting in the improvement in patients' treatment experience. In addition, through sharing the data of inpatients and outpatients, the All-in-One Service can provide more efficient patient management service and  potential business opportunities such as health insurance, medicine sales, patient recruiting and more. 

Weiguang Yang, Chairman and Chief Executive Officer of Zhongchao, commented, "Zhongchao's subsidiary Shanghai Zhongxin Medical Technology Co., Ltd. has accumulated a vast experience in outpatient management services. With the implementation of inpatient management service provided by Zhongxin Internet Hospital, we believe our All-in-One Service would greatly improve our patients' treatment experience. During the Covid-19 outbreak, the visitation volume of internet hospitals increased 17 times over the same period of the last year. The National Health Commission has also released a few guidelines this April promoting the rapid development of internet hospitals. We believe that the recent favorable trends could further boost the development of our Zhongxin Internet Hospital's business inpatient management service." 

About Zhongchao Inc.

Incorporated in 2012 with headquarter offices in Shanghai and Beijing, China, Zhongchao Inc. is an online provider of healthcare information, professional training and educational services to healthcare professionals under its "MDMOOC" platform (www.mdmooc.org) and to the public under its "Sunshine Health Forums" platform (www.ygjkclass.com) in China. The Company also provides patient management services through its subsidiaries. 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: [e-mail]
Phone: [phone]

Investor Relations: Sherry Zheng  
Weitian Group LLC
Email: [e-mail]
Phone: [phone]

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SOURCE Zhongchao Inc.

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