ZCMD Stock: Why Chinese Healthcare Play Zhongchao Is Skyrocketing Today

Shares of Zhongchao (NASDAQ:ZCMD) stock are soaring on Wednesday morning after the healthcare services firm announced a massive contract renewal.

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The company said it is renewing its partnership with the China Association for Health Promotion and Education and GlaxoSmithKline (China) Investment Limited. This is to extend its medical education program Pulmonary Arterial Hypertension Online Course – Connections with Famous Hospitals (PAH Project) through 2021.

According to the release, the PAH Project focuses on a specific treatment model of pulmonary hypertension and improves the overall clinical skills of its doctors. The company also said it had more than 200 pulmonary hypertension experts for the project last year, and expects more to participate this year.

Weiguang Yang, chairman and CEO of Zhongchao, added this regarding the ZCMD stock news.

“Compared to the population base and the number of potential pulmonary hypertension patients in China, the number of physicians specializing in the diagnosis and treatment of this field is very limited. Therefore, our PAH project in 2020 had received positive response and recognition from the majority of clinicians. The success of the PAH project brings valuable experiences for us in educating rare diseases. We believe we will attract more social and commercial cooperation in promoting rare diseases education to grow our business further.”

On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article. 

Nick Clarkson is a web editor at InvestorPlace.

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