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Shanghai, China, August 24, 2023 /PRNewswire/-- Zhongchao Inc. (NASDAQ: ZCMD) (“Zhongchao” or the “Company”), a platform-based internet technology company offering services for patients with cancer and other major diseases, today announced it has achieved a milestone of serving over 10,000 breast cancer patients in China with comprehensive disease management services since 2021. By offering disease management services, Zhongchao aims to ensure effective medical treatments while reducing financial hardships and enhance the overall quality of life for these patients.

Recently published statistics indicated a great need for disease management for breast cancer patients in China. The 2022 China Breast Cancer Follow-up and Health Management Guidelines highlighted the number of approximately 420,000 new breast cancer diagnoses in China in 2022, which ranked first and represented almost 20% of all malignant tumors diagnosed in women in China. As cure rates of breast cancer increased and the average survival time for is prolonged, there is an evident rising demand for life-long comprehensive disease management. Additionally, financial challenges arising from breast cancer treatment further called for such disease management. The 2022 China Breast Cancer Patient Quality of Life White Paper sheds light on the economic strains: breast cancer patients are burdened with an average treatment expense of RMB206,000, with out-of-pocket costs reaching up to RBM111,000 based on the questionnaires completed by breast cancer patients. Particularly, over 64% of these patients had households income of less than RBM100,000.

Zhongchao initiated its disease management services back in 2021 to alleviate financial burdens and facilitate treatment process for eligible breast cancer patients. In collaboration with multiple hospitals, pharmacies, pharmaceutical enterprises, non-profit organizations and insurance companies, Zhongchao provides various management services, including but not limited to, drug aids, disease follow-up visits, medication management, and cancer education. The Company's dedicated service team, accessible via a dedicated hotline, offers patient inquiries, medication assistance, medication usage and experience tracking, and sustained follow-up visits and management. From 2021 to 2023, Zhongchao's concerted efforts have aided over 10,000 breast cancer patients. Zhongchao believes its comprehensive disease management services for breast cancer patients alleviates financial burdens, promotes patient education and engagement, and contributes to optimal treatment results and life quality.

Weiguang Yang, Chairman and Chief Executive Officer of Zhongchao, commented, “In our position as a digital platform in healthcare and patient services, we have consistently prioritized holistic patient support, from financial assistance to intensive disease management. From 2021, we have consistently expanded our services to serve more types of cancer treatment, promoting treatment process, and improving patient quality of life. Our unwavering dedication to assisting and supporting breast cancer patients and other major diseases patients in China remains at the forefront of our mission.”

About Zhongchao Inc.

Zhongchao Inc. is an offshore holding company incorporated in the Cayman Islands. It consolidates the financial results of a variable interest entity, Zhongchao Medical Technology (Shanghai) Limited, and its subsidiaries (the “PRC operating entities”) through a series of contractual arrangements. Zhongchao Inc. is a platform-based internet technology company offering services to patients with oncology and other major diseases. The PRC operating entities provide online healthcare information, professional training and educational services to healthcare professionals under their "MDMOOC" platform (www.mdmooc.org), offer patient management services in the professional field of tumor and rare diseases through Zhongxin, offer internet healthcare services through Zhixun Internet Hospital, and pharmaceutical services through Xinjiang Medical and operate an online information platform, Sunshine Health Forums, to general public. More information about the Company can be found at its investor relations website at HYPERLINK about:blankhttp://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

Investor Relations: Sherry Zheng  

Weitian Group LLC

Email: shunyu.zheng@weitian-ir.com