The stock of online healthcare-related services provider Zhongchao Inc. (NASDAQ: ZCMD) has been up ticking in early trades this morning. The ZCMD stock’s price has soared to $3.06 rising nearly 69% since the trading began today. Having renewed a partnership for a medical education program in the home country, the price of Zhongchao stock rose.
What was the collaboration for?
Zhongchao Inc. is an online provider of healthcare information services that have incorporated in 2012 with offices in Shanghai and Beijing, China. Healthcare professionals in China can find educational services, professional training, and healthcare information at Zhongchao Inc.’s “MDMOOC” platform. For the purpose of providing these services to the population of the country, Zhongchao uses its “Sunshine Health Forum’s” platform. Also available under the “Zhongxun” platform are patient management services.
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Yesterday, Zhongchao Inc. announced the renewal of its partnership with the China Association for Health Promotion and Education as well as GlaxoSmithKline (China) Investment Limited.
- A renewal of the partnership will result in a medical education program namely “Pulmonary Arterial Hypertension Online Course – Connections with Famous Hospitals” (“PAH Project”) to continue in 2021.
- The PAH Project aims to improve physicians’ abilities in solving clinical problems by promoting the implementation of a multidisciplinary treatment model for pulmonary hypertension.
- A total of 10,000 clinicians took part in the PAH Project in 2020, involving more than 200 expert clinicians in pulmonary hypertension.
- It is anticipated that more clinicians will be trained in pulmonary hypertension information through the PAH Project by 2021.
Conclusion:
For patients in China with pulmonary hypertension, there are a limited number of clinicians who are experts in managing the condition. This made the PAH project a major success in 2020. PAH provided Zhongchao (ZCMD) not only with many important experiences but also with the opportunity to leverage them for further business expansion.