Zhongchao Inc. Expands Patient Management Business to Ovarian Cancer Market
SHANGHAI, Aug. 25, 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") provides patient follow-up management services for ovarian cancer patients from Zeyoulexiang Patient Assistance Project (the "Project"), helping ovarian cancer patients improve treatment outcomes and eventually increase survival rate.
The Project, managed by Bethune Charitable Foundation, provides assistance to female patients in mainland China who meet the standards to take Niraparib, an anti-cancer medication. Through the all-in-one patient management system ("All-in-One System") developed by the Company, patients can record, track and view various indications of their bodies and disease during the medication and receive early warnings of potential disease progression to manage adverse reactions and psychological problems during medication and improve their adherence to treatment and treatment safety. In addition, the digital follow-up function embedded in the All-in-One System allows patient management specialists and physicians to provide one-on-one medication guidance and lifestyle advice for patients to ensure correct drugs usage and response to adverse reactions, improving the treatment experience.
The Project consists of a service network of more than 350 hospitals, 40 pharmacies, and 1,000 physicians, supported by the All-in-One System operated by Zhongxin, and is jointly supported and assisted by Cancer Hospital Chinese Academy of Medical Sciences, Beijing Obstetrics Gynecology Hospital, Peking Union Medical College Hospital, Beijing Cancer Hospital, Zhongshan Hospital of Fudan University, and Red House Hospital. As of July 2021, more than 5,000 ovarian cancer patients had received drug assistance and patient management services through the Project.
According to GlobalData, the ovarian cancer market was valued at $1.8 billion in 2018 across the seven major markets, including the USA, France, Germany, Italy, Spain, UK and Japan, and it is expected to grow to $6.7 billion in the next ten years with a compound annual growth rate of 14.4%. In China, there were over 50,000 new ovarian cancer cases and more than 30,000 deaths in 2018. Zhongchao actively expands to the ovarian cancer market, hoping to assist the treatment of ovarian cancer patients with its All-in-One System and grow its patient management business within the high-demand ovarian cancer field.
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.
