<SEC-DOCUMENT>0001193125-13-006422.txt : 20130311
<SEC-HEADER>0001193125-13-006422.hdr.sgml : 20130311
<ACCEPTANCE-DATETIME>20130108113846
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-13-006422
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20130108

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Concord Medical Services Holdings Ltd
		CENTRAL INDEX KEY:			0001472072
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-OFFICES & CLINICS OF DOCTORS OF MEDICINE [8011]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ROOM 2001-2002, 20TH FLOOR, TOWER A
		STREET 2:		GLOBAL TRADE CTR, 36 NORTH THIRD RING RD
		CITY:			DONGCHENG DISTRICT, BEIJING
		STATE:			F4
		ZIP:			100013
		BUSINESS PHONE:		(86)10-5825-6867

	MAIL ADDRESS:	
		STREET 1:		ROOM 2001-2002, 20TH FLOOR, TOWER A
		STREET 2:		GLOBAL TRADE CTR, 36 NORTH THIRD RING RD
		CITY:			DONGCHENG DISTRICT, BEIJING
		STATE:			F4
		ZIP:			100013
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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<HTML><HEAD>
<TITLE>Correspondence</TITLE>
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">S<SMALL>IMPSON</SMALL> T<SMALL>HACHER</SMALL>&nbsp;&amp; B<SMALL>ARTLETT</SMALL> </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center">


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 </P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">ICBC T<SMALL>OWER</SMALL>, 35<SMALL>TH</SMALL> F<SMALL>LOOR</SMALL> </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3 G<SMALL>ARDEN</SMALL> R<SMALL>OAD</SMALL> </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">H<SMALL>ONG</SMALL> K<SMALL>ONG</SMALL> </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">(852) 2514-7600 </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">F<SMALL>ACSIMILE</SMALL> (852)&nbsp;2869-7694 </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">D<SMALL>IRECT</SMALL> D<SMALL>IAL</SMALL> N<SMALL>UMBER</SMALL></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px; margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">(852) 2514-7630</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">E-M<SMALL>AIL</SMALL> A<SMALL>DDRESS</SMALL></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">lchen@stblaw.com</FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><U>VIA EDGAR </U></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:56%" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">January&nbsp;8, 2013 </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Jim B. Rosenberg, Senior Assistant Chief Accountant </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Gus Rodriguez, Accounting Branch Chief </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Ibolya
Ignat, Staff Accountant </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Division of Corporation Finance </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Securities and Exchange Commission </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">100 F Street, N.E. </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Washington, D.C. 20549 </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Re:</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Concord Medical Services Holding Limited </B></FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Form 20-F for Fiscal Year Ended December&nbsp;31, 2011 </B></FONT></TD></TR></TABLE>
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<TR>
<TD WIDTH="13%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Filed April&nbsp;25, 2012 </B></FONT></TD></TR></TABLE>
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<TR>
<TD WIDTH="13%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>File No.&nbsp;001-34563 </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dear
Mr.&nbsp;Rosenberg, Mr.&nbsp;Rodriguez and Ms.&nbsp;Ignat: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:17%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On behalf of our client, Concord Medical Services Holdings
Limited, a company incorporated under the laws of the Cayman Islands (the &#147;<U>Company</U>&#148;), we hereby provide the response to the comment letter the Company received from the staff (the &#147;<U>Staff</U>&#148;) of the Securities and
Exchange Commission (the &#147;<U>Commission</U>&#148;) dated December&nbsp;26, 2012 that pertains to the Company&#146;s annual report on Form 20-F for the year ended December&nbsp;31, 2011 which was filed with the Commission on April&nbsp;25, 2012
(the &#147;<U>Company&#146;s 2011 Form 20-F</U>&#148;). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:17%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Set forth below are the Company&#146;s responses to each of the
Staff&#146;s comments contained in your December&nbsp;26, 2012 letter. For convenience, we have reproduced the Staff&#146;s comments in italicized boldface type below and keyed the Company&#146;s responses accordingly. </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1">Leiming Chen&nbsp;&nbsp;Philip M.J. Culhane&nbsp;&nbsp;Daniel Fertig&nbsp;&nbsp;Celia Lam&nbsp;&nbsp;Chris Lin&nbsp;&nbsp;Sinead
O&#146;Shea&nbsp;&nbsp;Jin Hyuk Park&nbsp;&nbsp;Kathryn King Sudol&nbsp;&nbsp;Christopher Wong </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1">Resident Partners </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1">S<SMALL>IMPSON</SMALL> T<SMALL>HACHER</SMALL> &amp; B<SMALL>ARTLETT</SMALL>, H<SMALL>ONG</SMALL> K<SMALL>ONG</SMALL> <SMALL>IS</SMALL>
<SMALL>AN</SMALL> <SMALL>AFFILIATE</SMALL> <SMALL>OF</SMALL> S<SMALL>IMPSON</SMALL> T<SMALL>HACHER</SMALL> &amp; B<SMALL>ARTLETT</SMALL> LLP <SMALL>WITH</SMALL> <SMALL>OFFICES</SMALL> <SMALL>IN</SMALL>: </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1">N<SMALL>EW</SMALL>
Y<SMALL>ORK&nbsp;&nbsp;&nbsp;</SMALL>B<SMALL>EIJING&nbsp;&nbsp;&nbsp;</SMALL>H<SMALL>OUSTON&nbsp;&nbsp;</SMALL>L<SMALL>ONDON&nbsp;&nbsp;&nbsp;</SMALL>L<SMALL>OS</SMALL> A<SMALL>NGELES&nbsp;&nbsp;&nbsp;</SMALL>P<SMALL>ALO</SMALL>
A<SMALL>LTO&nbsp;&nbsp;&nbsp;</SMALL>S<SMALL>&Atilde;O</SMALL> P<SMALL>AULO&nbsp;&nbsp;&nbsp;</SMALL>S<SMALL>EOUL&nbsp;&nbsp;&nbsp;</SMALL>T<SMALL>OKYO&nbsp;&nbsp;&nbsp;</SMALL>W<SMALL>ASHINGTON</SMALL>, D.C. </FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">S<SMALL>IMPSON</SMALL> T<SMALL>HACHER</SMALL> &amp; B<SMALL>ARTLETT</SMALL> </FONT></P>
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 </P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"> &#150;
 2
 &#150; </FONT></P> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I><U>Item&nbsp;5. Operating and Financial Review and Prospects Critical Accounting Policies
</U></I></B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I><U>Accounts receivable and allowance for doubtful accounts, page 63 </U></I></B></FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>1.</I></B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Please consider providing disclosure in future filings that addresses the following: </I></B></FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="14%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>&#149;</I></B></FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I></I></B><B><I>How often management evaluates receivables for collectability. </I></B></FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="14%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>&#149;</I></B></FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I></I></B><B><I>Include in a tabular format the aging of your accounts receivable. At a minimum, the disclosure should indicate the past due
amounts and a breakdown by payer classification. If your tracking system does not have the capacity to provide an aging schedule of your receivables, disclose that fact and clarify how this affects your ability to estimate your allowance for
doubtful accounts. </I></B></FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="14%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>&#149;</I></B></FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I></I></B><B><I>Any material uncertainties affecting the future realization of revenues such as the uncertainties surrounding the receipt of
payments from hospitals. </I></B></FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="14%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>&#149;</I></B></FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I></I></B><B><I>Your strategy related to collecting past due amounts. </I></B></FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="14%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>&#149;</I></B></FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I></I></B><B><I>Your standard credit terms and, if applicable, explain why days&#146; sales in accounts receivable exceed those terms.
</I></B></FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="14%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>&#149;</I></B></FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I></I></B><B><I>Your policy with respect to determining when a receivable is recorded as a bad debt and ultimately written off including the
following matters: </I></B></FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="23%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>&#149;</I></B></FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I></I></B><B><I>Whether or not and to what extent you use specific identification for recording bad debts; </I></B></FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="23%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>&#149;</I></B></FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I></I></B><B><I>The threshold amount and age for account balance write-offs; </I></B></FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="23%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>&#149;</I></B></FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I></I></B><B><I>Whether or not and to what extent your write-off process is automated or manual; </I></B></FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="23%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>&#149;</I></B></FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I></I></B><B><I>Whether or not accounts are written-off prior to going to legal or collection agencies. If not, quantify the amount included in
accounts receivable and the related allowance; and </I></B></FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="23%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>&#149;</I></B></FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I></I></B><B><I>The days&#146; sales outstanding for each period presented and discuss the reasons for significant changes from the prior period.
</I></B></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:17%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Company noted the Staff&#146;s comments and respectfully advises the Staff that the Company
will include the referenced disclosures in its future filings beginning with the Company&#146;s annual report on Form 20-F for the year ended December&nbsp;31, 2012. </FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">S<SMALL>IMPSON</SMALL> T<SMALL>HACHER</SMALL> &amp; B<SMALL>ARTLETT</SMALL> </FONT></P>
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 3
 &#150; </FONT></P> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I><U>Results of Operations, page 64 </U></I></B></FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>2.</I></B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Please consider providing in future filings a schedule of lease expirations for each of the next five years, starting with the next fiscal year that includes the
number of leases that will expire, the annual revenues represented by the expiring leases and the percentage of annual revenues represented by such leases. </I></B></FONT></TD></TR></TABLE>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:17%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Company noted the Staff&#146;s comments and respectfully advises the Staff that the Company will include the referenced disclosure in
its future filings beginning with the Company&#146;s annual report on Form 20-F for the year ended December&nbsp;31, 2012. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I><U>Consolidated Financial Statements </U></I></B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I><U>Notes to the Consolidated Financial Statements </U></I></B></FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>3.</I></B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>You disclose that you account for all of your lease rentals and management service arrangements as operating leases. Please provide the disclosures for operating
leases where you are the lessor as required by ASC 840-20-50-4b and 4c: </I></B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:17%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Company respectfully
advises the Staff that, as disclosed in &#147;Summary of Significant Accounting Policies&#150;Revenue Recognition&#148; on pages F-18 to F-20 of the Company&#146;s 2011 Form 20-F, the lease rentals and management service receivable under a lease and
management agreement are predominantly based on a profit sharing formula as specified in the agreement. The profitability is not only dependent on the medical equipment placed at the hospital but also the hospital&#146;s ability to manage the costs
and appoint doctors and clinical staff to operate the equipment. Such an agreement does not establish a minimum consideration receivable by the Company. Therefore, to the extent that a hospital is unable to generate any profit pursuant to such
agreement, the Company would not be entitled to any consideration. Consequently, the Company concluded that the minimum future rentals on non-cancelable leases as of the date of the latest balance sheet presented to be immaterial, in the aggregate
and for each of the five succeeding fiscal years pursuant to ASC 840-20-50-4b. The Company also concluded that the lease and management revenue as disclosed in the consolidated statements of operations represented the total contingent rentals
included in income for each fiscal year pursuant to ASC 840-20-50-4c. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I><U>Summary of Significant Accounting Policies
</U></I></B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I><U>Revenue Recognition </U></I></B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I><U>1 Lease and management services, page F-21 </U></I></B></FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>4.</I></B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>You disclose that you develop radiotherapy and diagnostic imaging centers through agreements with top-tier hospitals in China and enter into long term lease and
management services agreements with the hospitals to lease medical equipment to be used in the centers and to manage the centers in conjunction with the hospital partners. When establishing your revenue recognition policy for the share of profits
derived pursuant to these arrangements, you concluded that your lease and management services arrangements contain a lease and a non-lease deliverable, the non-lease deliverable being the management service element. You acknowledge that the
arrangement consideration should be allocated between the lease element and the management service element on a relative fair value basis but because all of the consideration is earned through the contingent rent feature discussed on page F-21, you
appear to have allocated no amount to the management services element. Please provide us with your analysis supporting your determination that all of the arrangement consideration should be allocated to the lease element. Tell us how your revenue
recognition policy considers the requirements of ASC Topic 605-25 and ASC 840 as applicable to the specifics of your agreements. Please cite the specific accounting literature by topic and paragraph that supports your accounting.
</I></B></FONT></TD></TR></TABLE>

<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">S<SMALL>IMPSON</SMALL> T<SMALL>HACHER</SMALL> &amp; B<SMALL>ARTLETT</SMALL> </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px">


<IMG SRC="g464305page2.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"> &#150;
 4
 &#150; </FONT></P> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:17%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Company respectfully advises the Staff that the share of profits derived pursuant
to lease and management agreements is measured generally on a monthly basis (the &#147;Measurement Period&#148;) according to the terms of the agreement and represents the total consideration for such agreements. As explained in response to comment
3 above, the total consideration is contingent in nature. As disclosed in &#147;Summary of Significant Accounting Policies&#150;Revenue Recognition&#148; on pages F-18 to F-20 of the Company&#146;s 2011 Form 20-F, the Company determined that the
lease and management service arrangements contain a lease element as well as a non-lease deliverable, namely, the management service element. ASC 840, Leases (&#147;ASC 840&#148;), provides guidance regarding the allocation of an arrangement&#146;s
consideration between the lease within a contractual arrangement but refers to ASC 605-25, Revenue Recognition, Multiple-Element Arrangements (specifically, ASC 605-25-15-3A(b)) for guidance on allocating the total consideration between the
deliverables subject to ASC 840 and those that are not within the scope of ASC 840. Accordingly, the arrangement consideration should be allocated between the lease and management deliverables based on the relative selling price of each deliverable.
As disclosed in the accounting policies, the relative revenue related to the leasing and management deliverables are accounted for under the guidance of ASC 840 for operating leases and Staff Accounting Bulletin (&#147;SAB&#148;) Topic 13,
respectively. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:17%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Given that the arrangements are based on a profit sharing formula and contingent in nature, the collectability
of the minimum lease payments is not considered reasonably predictable. There are also inherent uncertainties regarding the future costs to be incurred by the Company relating to the arrangements. Hence the Company concluded that the lease
deliverable should be accounted for as an operating lease under ASC 840-10-25-42. Specifically, the Company recognizes such contingent revenue with respect to the lease deliverable when the changes in the factors on which the contingent lease
payments are based actually occur under SAB Topic 13.A.4c. With respect to the lease and management agreements, these changes occur at the end of each Measurement Period when the profit sharing formula can be applied and the results are agreed by
both parties. </FONT></P>

<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">S<SMALL>IMPSON</SMALL> T<SMALL>HACHER</SMALL> &amp; B<SMALL>ARTLETT</SMALL> </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px">


<IMG SRC="g464305page2.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"> &#150;
 5
 &#150; </FONT></P> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:17%"><FONT STYLE="font-family:Times New Roman" SIZE="2">With respect to the management deliverable, the Company recognizes such revenue when
persuasive evidence of an arrangement exists, the service has been rendered, the fees are fixed or determinable and collectibility is reasonably assured in accordance with SAB Topic 13. Specifically, the revenue related to the management deliverable
is only considered determinable and thus not recognized until the end of each Measurement Period as the consideration can only then be ascertained by applying the profit sharing formula and agreed by both parties. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:17%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As the revenue related to both lease and management deliverables is recognized at the same time at the end of each Measurement Period,
the Company concluded that, as disclosed in the accounting policies, the requirement to allocate the leasing and management deliverables had no impact to the lease and management revenue recognized for the fiscal year. The total revenue recognized
for both elements, after taking into account the revenue recognition criteria for each element, would be the same as the share of profits derived based on the profit sharing formula for the fiscal year. </FONT></P>
<P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>5.</I></B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>You disclose on page 62 that you have entered into both leases and management service arrangements with independent hospitals consisting of terms that range from
6 to 20 years. You also disclose on page F-18 that you depreciate leased medical equipment over the shorter of the term of the contract or 6 to 20 years. Since the estimated useful life of 6 to 20 years is very broad please help us understand how
you determined the appropriate useful life of lease medical equipment, including how you determined that the assets would provide economic benefit to you for this period. Please also disclose your accounting policy for recognizing losses associated
with unprofitable lease and management service agreements.</I></B> </FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:17%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Company respectfully advises the Staff
that the Company determines the estimated useful lives of equipment under lease and management arrangements, before taking into account the effect of the lease term, based on the equipment type, equipment specification provided by the manufacturer,
as well as the Company&#146;s historical experience. As of December&nbsp;31, 2011, the estimated useful lives of equipment under lease and management arrangements, before taking into account the effect of the lease term, ranged from 10 to 20 years.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:17%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The lease and management agreements generally have lease terms ranging from 8 to 15 years, shorter than the estimated useful
lives of the equipment. In addition, certain lease and management agreements require the equipment to be transferred to the hospital or subject to a bargain purchase by the hospital at the end of the lease term. If the Company retains an equipment
at the end of the of the lease term, the Company would consider whether the equipment will likely provide future economic benefits. In nearly all cases, such economic benefits have not been considered significant. As a result, an equipment subject
to lease and management agreements is generally subject to full depreciation during the lease term. The residual value is considered to be nil. The lease and management agreements do not require the Company to replace the equipment during the lease
term. Based on these factors, the Company concluded that equipment under a lease and management agreement will provide economic benefits throughout the lease term over which the equipment is subject to full depreciation. </FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">S<SMALL>IMPSON</SMALL> T<SMALL>HACHER</SMALL> &amp; B<SMALL>ARTLETT</SMALL> </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px">


<IMG SRC="g464305page2.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"> &#150;
 6
 &#150; </FONT></P> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:17%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Company also respectfully advises the Staff that all profit sharing arrangements
under lease and management agreements have been generating profits to the Company. To the extent that such arrangements become unprofitable, the Company will be liable for its share of loss. The Company&#146;s accounting policy with respect to
losses associated with unprofitable lease and management service agreements is that such losses for the relevant period are included in cost of revenues. The Company further advises the Staff that should losses associated with unprofitable lease and
management service agreements arise, the Company would consider if such losses represent an impairment indicator and thus trigger an impairment analysis as disclosed in &#147;Summary of Significant Accounting Policies&#150;Impairment of Long-lived
Assets and Acquired Intangibles&#148; on page F-20 of the Company&#146;s 2011 Form 20-F. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">*&nbsp;&nbsp;*&nbsp;&nbsp;*&nbsp;&nbsp;*&nbsp;&nbsp;*&nbsp;&nbsp;* </FONT></P>

<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">S<SMALL>IMPSON</SMALL> T<SMALL>HACHER</SMALL> &amp; B<SMALL>ARTLETT</SMALL> </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px">


<IMG SRC="g464305page2.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"> &#150;
 7
 &#150; </FONT></P> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:17%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In responding to the Staff&#146;s comments, the Company acknowledges that: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the Company is responsible for the adequacy and accuracy of the disclosure in the filing; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Staff comments or any changes to disclosure in response to Staff comments do not foreclose the Commission from taking any action with respect to the
filing; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the Company may not assert Staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities law of
the United States. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:17%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Should you have any question regarding this response letter, please contact me by phone
at (+852)&nbsp;2514-7630 (office) or (+852)&nbsp;9032-1314 (cell) or by email at lchen@stblaw.com, my colleagues Blake Dunlap by phone at (+852)&nbsp;2514-7606 (office) or (+852)&nbsp;9052-3388 (cell) or by email at bdunlap@stblaw.com or Yu Wang by
phone at (+8610)&nbsp;5965-2979 (office) or (+86)&nbsp;138-1133-0429 (cell) or by email at yuwang@stblaw.com. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Very truly yours,</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Leiming Chen</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Leiming Chen</FONT></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Enclosures </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">cc:</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dr.&nbsp;Jianyu Yang, Chairman and Chief Executive Officer </FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Adam Jigang Sun, Chief Financial Officer </FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp; Concord Medical Services Holdings Limited </FONT></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Blake Dunlap </FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Yu Wang </FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp; Simpson Thacher&nbsp;&amp; Bartlett </FONT></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Victor Chan </FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp; Ernst&nbsp;&amp; Young Hua Ming </FONT></TD></TR></TABLE>
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