Medical Care Technologies Inc. Obtains Financing to Secure Lease for Shenzhen Kid's Health Center
September 07 2012 - 12:47PM
Medical Care Technologies Inc. (OTCBB:MDCE), a
growing children's healthcare service provider, is pleased to
announce that it has secured direct investment of $35,000 from a
Florida private growth capital firm, Five Nine Global Partners LLC.
The direct financing was used to guarantee the lease premises
for the building location of the Shenzhen Children's Health &
Wellness Center – a major milestone and a necessity before
construction can begin. The Company's recently approved health
center license covenants that the license is restricted and
specific to the building site and premises selected for the
operation of its children's health center. Had the lease not been
secured for this specific site, the license would have been revoked
and the Company would have had to re-enter the application and
licensing process again from the beginning. The proceeds enabled
Management to lock in the over 4,500 square foot street-level space
in a high-end, garden-style commercial and residential building
complex for three months whilst construction is carried out.
"This financing will not immediately add any additional shares
into the market place and will allow us to concentrate on building
our new center," said CEO Ning Wu. "We are very fortunate to have
supportive investors who recognize the potential of our healthcare
service business."
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: 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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