BETHESDA, Md., June 12 /Xinhua-PRNewswire/ -- Chindex International, Inc.(Nasdaq: CHDX), an independent American provider of international healthcareservices and Western healthcare products in the People's Republic of China,today announced results for its fiscal year end and fourth quarter ended March31, 2008.

For the 2008 fiscal year, the Company reported total revenue of $130.1million, an increase of 23% over the prior year, and income from continuingoperations increased 80% to $8.3 million from $4.6 million in the prior year.Net income increased 34% to $3.7 million, or earnings per share of $0.32compared to net income of $2.7 million or earnings per share of $0.29 for theyear ended March 31, 2007.

For the quarter ended March 31, 2008, revenue was $34.6 million, anincrease of 40% over the prior year, and income from continuing operationsdecreased 55% to $426,000 from $939,000 in the prior year. The net loss forthe quarter ended March 31, 2008 was $2.7 million or loss per share of $0.20compared to net income of $665,000, or earnings per share of $0.06, for thequarter ended March 31, 2007. The quarterly results were negatively impactedby certain non-routine year-end adjustments as well as the interest chargerelated to the conversion of a JP Morgan convertible bond.

The Company's balance sheet as of March 31, 2008 shows cash, cashequivalents and restricted cash of $80.4 million, total assets of $136.0million, a current ratio of 4.51:1 and stockholders' equity of $87.4 million.

Roberta Lipson, President and CEO of Chindex, commented on the results:'We continue to see great opportunity for our healthcare businesses inChina -- the world's fastest growing market. Our revenue growth andprofitable operating results for fiscal year 2008 are a window on the greatpotential we see as we set the stage for the next chapters of growth in bothour divisions.

'Revenue from the Healthcare Services division for the year was $65.8million, an increase of 37% over the prior year with income from continuingoperations of $10.3 million, compared with income from continuing operationsof $5.0 million in the previous year. This improvement of over 106% reflectsincreasing profitability in both the Beijing and Shanghai markets. TheHealthcare Services division operates the Company's United Family Healthcare(UFH) network of private hospitals and clinics in China. Chindex operates theonly foreign-invested, multi-facility hospital network in China.

'The continued rapid growth on both top and bottom lines on a comparablebasis versus last year in our United Family Healthcare network speaks to thegrowing potential of the market as well as our increased service offerings inboth markets. We celebrated the 10th anniversary of our hospital operationsin Beijing and expect the growth to continue even as we are planning the nextphases of geographic and facility expansion

'Our near term expansion plans for the United Family Healthcare networkinclude a new outpatient center in Shanghai as well as strategic geographicexpansion into the Guangzhou market, first with an outpatient center closelyfollowed by the development of a major general hospital facility. The twooutpatient centers are scheduled to open this summer. The new hospital inGuangzhou and a second facility for Beijing are now under design anddevelopment.

'The Medical Products division markets, distributes and sells selectmedical capital equipment, instrumentation and other medical products for usein hospitals in mainland China and Hong Kong.'

'Revenue for the division during the year was $64.2 million, an 11%increase from the prior year with a loss from continuing operations of $2.6million compared with a loss from continuing operations of $1.2 million in theprior year. The increase in revenue was primarily attributable tosuccessfully increasing market share in ultrasound product sales. Thispositive factor was somewhat offset by the impact of ongoing and unfinishedreforms by the government of the procurement process in the Chinese healthcaresystem, which included increased requirements for public tendering, as well as-- and perhaps most importantly -- delays in the product registration formarket entry for certain of our products.

'Some of the market issues impacting our 2008 period in the productsdivision began to see resolution by year end. While we did not meet ourperformance targets in the division, during the year we did see significantprogress in market penetration for our range of ultrasound products, as wellas, the successful installations of additional daVinci surgical robot systemsin Hong Kong and the resumption of our government backed loan financingprograms based on U.S. Export-Import Bank guarantees. We expect improvedperformance and a return to profitability in the division in 2009,' saidLipson.

Lipson concluded, 'Our two divisions operate in very synergistic marketsegments, Healthcare Services and Medical Products.