Singapore, Feb 09, 2010: Chindex International, an American provider of Western healthcare products and services in China, announced that its revenue in the third quarter of fiscal year 2010 increased 12 percent year over year to $46.5 million. The net income for the third quarter of fiscal 2010 too increased to $3.9 million, from $846,000 in the prior year period.
Chindex noted that its revenue from the Healthcare Services division increased 5 percent to $21.6 million from $20.5 million in the third quarter of fiscal year 2009, and reflected growing inpatient and outpatient volume offset by disruption due to construction of the expanded facility in Beijing.
The company expects the negative impact of the expansion work to continue through the opening of the expanded facilities, currently planned for the fall of 2010. Revenue from the medical products division increased 18 percent to $24.9 million from $21.1 million in the prior year period, reflecting the increase in sales of women's health imaging products and the delivery of two robotic surgical systems. During this quarter, the company also recorded revenues of approximately $3.2 million under its current KfW Development Bank contracts.
Mr Roberta Lipson, President and CEO of Chindex, said, “In the Healthcare Services Division we are in a development cycle with operations in the Beijing market experiencing capacity limitations as we build out the expansion facilities. At the same time, operations in the Shanghai and Guangzhou markets continue along expected growth trajectories. The Medical Products division is always subject to quarterly fluctuations, and although we are seeing significant improvements over last year, we are experiencing regulatory delays on high-value medical equipment purchases.”
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