Zhongchao Inc. Launched New Line of Business Focusing on Tumor and Rare Disease Patient Management

Rhea-AI Summary

Zhongchao Inc. (NASDAQ: ZCMD) has announced the launch of a new patient management service targeting tumor and rare disease patients through its subsidiary, Shanghai Zhongxin Medical Technology. The service aims to improve treatment outcomes by leveraging the Company's healthcare platforms, which provide training and information to healthcare professionals and the public. The global cancer market is significant, with around 19.29 million new cases reported in 2020, of which 4.57 million occurred in China. Zhongchao aims to enhance patient engagement to drive better treatment results.

Positive

• Launch of patient management service focusing on tumor and rare disease patients.
• Utilization of existing platforms for healthcare education and information dissemination.
• Potential for improved treatment outcomes through active patient engagement.

Negative

• None.

SHANGHAI, May 28, 2021 /PRNewswire/ -- Zhongchao Inc. (NASDAQ: ZCMD) ("Zhongchao" or the "Company"), a healthcare services company offering online healthcare information, professional training and educational services, announced the launch of the patient management service focusing on the professional field of tumor and rare disease operated through its subsidiary Shanghai Zhongxin Medical Technology Co., Ltd. ("Zhongxin").

Zhongchao has been closely following up on the new study and research of tumor and rare disease both in China and worldwide. Based on the statistics provided by World Health Organization's International Agency for Research on Cancer, there were approximately 19.29 million new cancer cases and 10 million cancer deaths globally in 2020. China had approximately 4.57 million new cancer cases in 2020, accounting for approximately 23.7% of the total cancer cases around the world. China's National Health Commission indicated that there are approximately 20 million patients with rare disease in China. Medical treatment markets for both cancer and rare diseases have been expanding along with the increasing number of patients.

The Company has realized that, in addition to drug development and more advanced medical treatment options, patients' active engagements in the treatment is also critical to lead to better overall treatment outcomes such as higher chemotherapy completion rate, lower rehospitalization risk and longer survival time. Many multinational pharmaceutical companies have also realized such significance by conducting strategic investments in not only drug developments but also patient management projects.

With our MDMOOC online platform which provides information, education, and training services for healthcare professionals and Sunshine Health Forums which provides healthcare knowledge for the public, the Company could provide technical supports for Zhongxin's patient management services to assist patients with tumor or rare disease. Zhongxin plans to build a comprehensive patient management system with integrated data insights into existing clinical workflows.

Weiguang Yang, Chairman and Chief Executive Officer of Zhongchao, commented, "Zhongxin is built upon our years of healthcare training service experience and successful platforms for healthcare professionals and the general public. We believe that with our patient management services, patients will have access to holistic and effective treatment systems for individual well-being, improved patient experience, optimal allocation of resources and reduced overall costs." 

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. 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 is Zhongchao Inc.'s new service launched on May 28, 2021?

Zhongchao Inc. launched a patient management service focusing on tumor and rare disease patients.

How does Zhongchao plan to improve patient outcomes?

By enhancing patient engagement through its online healthcare platforms and training services.

What was the global cancer incidence in 2020?

Approximately 19.29 million new cancer cases were reported worldwide in 2020.

What percentage of global cancer cases occurred in China in 2020?

China accounted for approximately 23.7% of the total global cancer cases in 2020.

What is the potential market for Zhongchao's patient management services?

The markets for cancer and rare diseases are expanding due to the increasing number of patients.