BEIJING, April 19, 2011 /PRNewswire/ -- Medical Care
Technologies Inc. (OTCBB: MDCE), an information technology
provider to the healthcare industry, is pleased to announce that is
has signed a letter of intent with Ocean Wise International
Industrial Limited ("OWII"), a private Hong Kong investment holding company to
establish a joint venture for the purpose of opening and operating
private pediatric clinics throughout China.
The non-binding letter of intent outlines a framework under
which the parties will negotiate the formation of a joint venture
for the opening and operation of private pediatric clinics and;
installing its healthcare information system in these children's
health centers. The desired outcome of the joint venture is
to provide a sustainable and profitable delivery of quality
healthcare to children in China.
"Medical Care brings extensive scientific expertise and
experience in the information technology industry, specifically in
the healthcare sector. Combining our companies' resources
will provide a unique opportunity to further advance our business
plan initiatives and to leverage those resources to open up in the
China marketplace," stated
Luis Kuo, Chief Operating Officer of
Medical Care.
"We believe that OWII's extensive network of resources and that
our joint venture with Medical Care could provide more effective,
affordable and sustainable healthcare solutions," stated
Bei Shu, spokesperson for OWII.
The letter of intent contemplates that Medical Care and OWII
will each contribute technology, research and development,
financial and other resources to the joint venture, but the
specific terms and conditions of those contributions remain subject
to negotiation and preparation of definitive agreements for the
joint venture. Completion of the joint venture and any binding
obligations between the parties will arise only after the
negotiation and execution of definitive agreements that are
mutually acceptable to both Medical Care and OWII.
About Medical Care Technologies Inc.
Medical Care Technologies Inc. is traded under the symbol MDCE
on the OTCBB and is headquartered in Beijing, China. The Company's planned
products and services constitute children's health clinics and a
healthcare delivery and wellness site; dedicated to helping Chinese
consumers live healthier, more balanced lives. MDCE plans,
through a Chinese subsidiary, to develop a network of children's
health facilities in the larger urban areas throughout China. Services are geared towards the
advancing economic middle-class and upper class Chinese families.
In addition, MDCE provides advanced connectivity,
internationally standardized and secure business, technology and
information systems to assist the Chinese health industry -
physicians, pharmacists, medical institutions, consumers – access
medical resources, health services, education, and health products
throughout China. MDCE will also
distribute a diverse range of industry-leading product lines in
three segments: Medical Devices, Pharmaceuticals and
Nutriceuticals. It is the Company's goal to become a health care
leader in children's health. Information on the Company can be
found at www.sec.gov and the Company's website at
www.medicaretechinc.com.
Safe Harbor Statement
All statements contained in this press release, other than
statements of historical fact, are forward-looking statements,
including those regarding: MDCE's products, services,
capabilities, performance, opportunities, development and business
outlook, guidance on our future financial results and other
projections or measures of our future performance; the amount and
timing of the benefits expected from strategic initiatives and
acquisitions or from deployment of new or updated technologies,
products, services or applications; and other potential sources of
additional revenue. These statements are based on our current plans
and expectations and involve risks and uncertainties that could
cause actual future events or results to be different than those
described in or implied by such forward-looking statements. These
risks and uncertainties include those relating to: lack of
operating history, transitioning from a development company to an
operating company, difficulties in distinguishing MDCE's products
and services, ability to deploy MDCE's services and products,
market acceptance of our products and services; operational
difficulties relating to combining acquired companies and
businesses; our ability to form and maintain mutually beneficial
relationships with customers and strategic partners; changes in
economic, political or regulatory conditions or other trends
affecting the healthcare, Internet, information technology and
healthcare and pharmaceutical industries, and our ability to
attract and retain qualified personnel. Other risks and
uncertainties may include, but are not limited to: lack of or delay
in market acceptance and fluctuations in customer demand,
dependence on a limited number of significant customers, reliance
on third party vendors and strategic partners, ability to meet
future capital requirements on acceptable terms, continuing
uncertainty in the global economy, and compliance with federal and
state regulatory requirement. Further information
about these matters can be found in our Securities and Exchange
Commission filings. We expressly disclaim any intent or obligation
to update these forward-looking statements.
Web: www.medicaretechinc.com
SOURCE Medical Care Technologies Inc.