Zhongchao Inc. Announces Hematological Tumor Patient Management Business to Further Expand to Out-of-Hospital Market

Rhea-AI Summary

Zhongchao Inc. (NASDAQ: ZCMD) announced the launch of its Hematological Tumor Patient Care Center via its subsidiary, Shanghai Zhongxin Medical Technology. This initiative expands its services in tumor patient management to the out-of-hospital market, catering to nearly 10,000 hematological tumor patients. The Care Center provides comprehensive disease management, including patient education and personalized health assessments. With a projected rise in hematologic tumor cases in China, Zhongchao aims to enhance treatment experiences for patients through its innovative management services.

Positive

• Launch of the Hematological Tumor Patient Care Center, expanding services to the out-of-hospital market.
• Cumulatively served nearly 10,000 patients, indicating strong initial demand for services.
• Collaboration with over 3,000 physicians enhances the patient management ecosystem.

Negative

• None.

SHANGHAI, Sept. 10, 2021 /PRNewswire/ -- Zhongchao Inc. (NASDAQ: ZCMD) ("Zhongchao" or the "Company"), an internet technology company offering healthcare professionals the online healthcare information, professional training and educational services platform and patients the patient management platform, today announced its subsidiary Shanghai Zhongxin Medical Technology Co., Ltd. ("Zhongxin") launches Hematological Tumor Patient Care Center (the "Care Center"), continuing to improve its business ecology in tumor patient management and further expanding to out-of-hospital market. The out-of-hospital market includes extensive online and onsite retail pharmacies and private institutions such as private hospitals and private clinics.

The Care Center provides all-time, all-scenario, and comprehensive out-of-hospital disease management services for hematologic tumor patients, including 1) education and expert lectures to strengthen patients' self-management ability, 2) establishment of disease files, patient follow-up, periodic health and quality-of-life assessment, medication and subsequent visit reminder and the others to enhance patients' adherence to and confidence in treatment, and 3) consultation hotline for immediate information request from patients.  In addition, the Care Center provides drug assistance, pathological examination, residual lesion examination, and genetic testing for qualified patients, forming a service ecosystem for out-of-hospital patient management.

As of August 2021, Care Center has cumulatively served nearly 10,000 patients with disease like common hematological tumors (such as leukemia, lymphoma, and myeloma), and rare hematological diseases (such as myelodysplastic syndrome, myelofibrosis, Walden's macroglobulinemia, and POEMS syndrome). More than 3,000 of physicians have provided services for patients through the digital follow-up system on Zhongxin's platform. Physicians can view each patient's medication records, adverse reactions, subsequent visits, and examination results to monitor patient's conditions and medication use and make personalized recommendations to improve patient's mental and physical status, patient's confidence in treatment, and treatment effectiveness and safety.

According to Zhong Jin Qi Xin International Consulting, the number of new cases of hematologic tumors in China is expected to reach 222,000 by 2024, and 247,000 by 2030. Zhongchao's Care Center will be able to assist hematological tumor patients in solving issues during treatment and improving physical recovery. Zhongchao aims to tap the potentially huge hematological tumor market and is always unwavering in its commitment to improving rare disease patients' treatment experience through its patient management services.

About Zhongchao Inc.

Incorporated in 2012 with headquarter offices in Shanghai and Beijing, China, Zhongchao Inc. is a platform-based internet technology company.  It provides online 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. Through its subsidiaries, the Company also operates a platform offering patient management services. 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.

FAQ

What did Zhongchao Inc. announce on September 10, 2021?

Zhongchao Inc. announced the launch of its Hematological Tumor Patient Care Center to enhance out-of-hospital patient management.

How many patients has the Care Center served as of August 2021?

As of August 2021, the Care Center has served nearly 10,000 patients.

What is the forecast for new cases of hematologic tumors in China?

The number of new cases of hematologic tumors in China is expected to reach 222,000 by 2024 and 247,000 by 2030.

What services does the Care Center provide to hematological tumor patients?

The Care Center offers education, disease file establishment, follow-ups, consultations, and various medical assistance services.

What is the stock symbol for Zhongchao Inc.?

The stock symbol for Zhongchao Inc. is ZCMD.