Tongji Healthcare Appoints New Board of Directors; Stock Climbs 40%
The coronavirus pandemic may have come as a major shock to the economic system, and most businesses but healthcare companies, which have managed to do well, have seen their stocks perform well. Tongji Healthcare Group, Inc. (OTC:TONJ) is one of those companies. The company runs a hospital known as Tongji Hospital, which is classified as a general hospital and, at this point, boasts of 105 licensed beds.
The hospital provides medical services in a range of fields, starting from medical surgery and paediatrics to traditional Chinese medicine and emergency care. It should be noted that the hospital’s emergency room is open around the clock.
New Additions to the Management Team
This morning Tongji Healthcare made a major announcement with regards to its board of directors, and that has resulted in major action on the stock. The company announced a raft of new directors of the board as well as officers, and that has seen investors piling on to the stock. This morning, the Tongji stock rallied by as much as 42%, and it is likely that the stock is going to come into the radars of investors through the rest of the day. Investors could do well to keep an eye on the stock today.
The company announced that Amir Ben-Yohanan is going to be the new chairman of the board of directors and the new Chief Executive Officer. In addition to that, Christian Young has been appointed as director and President, while Simon Yu has come in as chief operations officer and director. All these appointments will go into effect from July 18. It seems that the appointment of Yohanan as the new CEO has been welcomed with great enthusiasm by the market. He has worked in multinational corporations in a career that currently spans 15 years, and two of his stints included leadership roles at organizations like Associated Press and AT&T. He primarily worked as the director of finance and was largely responsible for financial reporting, compliance, and also internal audit.
However, he discontinued his successful corporate career and founded the real estate investment and property management firm West of Hudson Properties. The company now has real estate assets totaling as much as $300 million. Yohanan has an undergraduate degree in accounting and a master’s degree in finance from the University of Sydney.
However, at the same time, it should also be noted that the other appointments are just as impressive. Christian Young was the president of WOHG up until March this year and is a serial entrepreneur who has established over a dozen businesses.
On the other hand, Simon Yu is currently the Chief Executive officer of Cannabis Strategic Ventures and has served in that role since 2017. Investors could keep an eye on the developments around Tongji Healthcare in the coming weeks.
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