CHC Healthcare was founded in 2008 by Dr. Thomas F. Frist, Jr., Hospital Corporation of America ("HCA") co-founder and Chairman Emeritus, and Mr. Charles A. Elcan. Given favorable deregulation of the Chinese healthcare market towards foreign investment, the Company is uniquely positioned to provide exceptional service to China's general population (both public and private pay) by revolutionizing care to a more efficient, quality-driven, and patient-centered system. Having successfully negotiated a joint venture with the municipal government of Cixi (Ningbo), Zhejiang Province, the Company opened CHC International Hospital and admited its first patient by the latter half of 2014. In parallel to the construction and commissioning of CHC International Hospital in Cixi, the Company is also in the process of acquiring majority ownership stakes in several state-owned hospitals and private facilities across China. Over the next three to five years, the Company hopes to expand rapidly and move closer to its ultimate goal of delivering quality care to local populations across China. Unlike many financial investors who have a short term horizon and a mandate to create quick profits for their shareholders, CHC has a long term commitment to China and to the enhancement of healthcare across the country. Today, the Company is led by Chairman and CEO of China Operations Clancey Houston and guided by the strong vision of Dr. Frist, Jr. and Mr. Elcan.