Medical Care Technologies Inc. (OTCBB:MDCE), a
growing American company providing Western healthcare products
distribution and children's healthcare services in China, released
today the following letter to shareholders from its Chief Executive
Officer, Ning Chung Wu:
Dear Valued Shareholders,
It has been three months since I last formally addressed you,
and it is again important for me to inform you, clarify some of
your concerns and share some exciting news. MDCE has been moving
forward on many fronts, and I am extremely pleased with our team's
progress in building our footprint in China.
Growth Opportunity in Prominent Location
In May a growth opportunity was presented for a new location in
one of China's most dynamic cities, and we jumped at that chance.
As MDCE's business model for children's private healthcare services
in China has been well received by officials and locals alike, your
Company was officially invited to apply for a license and to open a
health center in Shenzhen. This process that would normally take
years, obtaining approval from the Chinese Ministry of Health, took
a considerably shorter time to achieve. This is another major
milestone for us firstly, to be invited and, secondly, to be
granted the license to operate a health center in a major, Tier-1
city.
Shenzhen is China's first and most successful "Special Economic
Zone", and is regarded as one of the fastest growing cities in the
world with a population of over 10 million people. Shenzhen
has grown beyond the borders of the original Zone and now
encompasses an area of 790 sq. miles, larger than New York, London
or Los Angeles! With a booming economy, Shenzhen has developed
very rapidly into a vibrant commercial powerhouse fueled by the
ambitions of its upwardly mobile, educated, entrepreneurial
inhabitants. For many Chinese, Shenzhen represents China's 21st
century future (Business in Asia, March, 2012).
Once license approval was granted, our consultants in Shenzhen
moved to quickly select an eminent site for the health center,
close to the 2011 Universiade location, in an area of this thriving
city which teems with young, urban professional families. I am
pleased to tell you that zoning approvals from the city government
have also been granted – another major milestone – and renovations
can begin immediately. We have already paid the required
licenses, bonds and zoning fees.
Our mission became a plan and that plan is fast becoming a
reality. Building renovations in China, which adhere to
increasingly stringent building standards and encourages the
construction of energy-efficient structures, can be completed
rather quickly. As we finalize on the Shenzhen construction
financing, now in its advanced stages, our project development and
qualified construction crews are selected and prepared to work
diligently for a rapid on-time project completion and opening of
the Shenzhen health center.
Auxiliary Location - Dongguan
Many of you have been wondering when we will be announcing the
health center opening in Dongguan. This was our initial site
selection and, whilst an excellent choice, Dongguan, for many
Chinese, is still considered to have a less prominent profile than
Shenzhen. "Dongguan is like a silver medal at the Olympics and
Shenzhen is the gold!" stated Peter Verner, Senior Communications
Advisor for Medical Care Technologies Inc.
We have renegotiated our lease contracts and maintain our
permissions there at no ongoing costs until opened. We have
progressed steadily since we announced our presence there last year
however, because of MDCE's growing favored player status and
reputation for what we are undertaking in children's healthcare in
China, the political arena played a very strong role in changing
our course. Our official invitation, followed by your Board's
decision to set up in Shenzhen has secured a strong, 'first-mover'
footing in a Tier-1 city. Our Shenzhen operations must take
priority now and we will announce the news on the status of the
Dongguan health center in due course. Dongguan remains our
supporting and auxiliary site in Guangdong Province.
Reiterating No Reverse Split
I would like to address one of our most common shareholder
questions and restate that there is no reverse split planned in the
foreseeable future. We have determined that a reverse split would
not be in the best interests of MDCE nor our shareholders at this
time in our development and will not take place in the foreseeable
future.
Looking Ahead To A Bright Future
My primary goal is to create value by positioning MDCE to effect
positive change: positive change in health care, as health
care is all about people. I firmly believe once we can affect this,
a positive change in MDCE's market position will follow. I am
confident that you, our shareholders, are going to be greatly
rewarded for your astute choice and faith in MDCE.
Sincerely yours and on behalf of the Board,
Ning Chung Wu Chief Executive Officer Medical Care Technologies
Inc.
About Medical Care Technologies Inc.
Medical Care Technologies Inc. is traded under the symbol MDCE
on the OTCBB and is headquartered in Beijing, China. MDCE,
through joint ventures or Chinese subsidiaries, develops 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.
Specializing in the care of children between the ages of 3 to 16,
MDCE's role is to enhance the overall well-being of the family and
community and to expand its pediatric services to include
preventative health and wellness education. MDCE, through its
children's health facilities, will also distribute a diverse range
of industry-leading pharmaceutical and nutraceutical product lines.
MDCE's main mission is simple – to become a healthcare service
provider 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.
CONTACT: For Further Information:
Ms. Candy Wang Email: contact@medicaretechinc.com
Mr. Peter Verner Email: p.verner@medicaretechinc.com
Tel: (852) 8122-9660
Web: www.medicaretechinc.com
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