Partnership Will Equip Kids Health Centers with State-of-the-Art Medical Equipment
BEIJING, CHINA (Sharewellnewswire.com) September 13, 2012 – Medical Care Technologies Inc. (OTCBB: MDCE), a growing American company providing children’s healthcare services and Western healthcare products distribution in China, today announced that it has signed a memorandum of understanding (MOU) with Dragon Link Group Ltd. (“Dragon Link”) establishing the framework for a strategic investment through which Dragon Link would invest over $1.5 million for medical equipment and clinical tools.
Dragon Link is a Hong Kong private company and its proposed investment in Medical Care Technologies Inc. is intended to create the capital structure necessary for the Company to outfit its first health center operation in Shenzhen and, to expand its operations throughout Guangdong Province.
Under the proposed terms of the strategic agreement outlined in the MOU, Dragon Link would provide the Company with up to $1.5 million in equipment financing, with an initial cash outlay of $400,000 to outfit the Shenzhen Children’s Health and Wellness Center with German- manufactured health and dental equipment. This $1,500,000 proposed investment into Medical Care Technologies comes without having to add any new shares into the Company's current share structure.
"A substantial capital investment from Dragon Link would not only secure our equipment financing for Shenzhen, but it would also secure equipment funding for our other planned health center locations,” said Ning Wu, CEO of Medical Care Technologies Inc. “In addition, this agreement would align us with a large, successful global brand in the medical equipment industry," she added.
"This MOU is the first step toward a longer term agreement through which we plan to build on the foundation of Medical Care Technologies Inc.’s Shenzhen operation," said Fielding Sy, President of Dragon Link. “We believe this partnership will create long-term value to the customers, investors and other stakeholders of both companies," he further stated.
While the MOU is non-binding and the execution of definitive documentation is subject to negotiation, both companies are currently negotiating and intend to close the full transaction by the end of the month.
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 atwww.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 Info:
Ms. Candy Wang, Mr. Peter Verner
(852) 8122-9660
Email: contact@medicaretechinc.com, p.verner@medicaretechinc.com
http://www.medicaretechinc.com
Source: The MEDICAL CARE TECHNOLOGIES INC. ANNOUNCES $1,500,000 MEMORANDUM OF UNDERSTANDING TO SECURE EQUIPMENT FOR HEALTH CENTER OPERATIONS (SharewellNewswire.com)
BEIJING, CHINA (Sharewellnewswire.com) September 13, 2012 – Medical Care Technologies Inc. (OTCBB: MDCE), a growing American company providing children’s healthcare services and Western healthcare products distribution in China, today announced that it has signed a memorandum of understanding (MOU) with Dragon Link Group Ltd. (“Dragon Link”) establishing the framework for a strategic investment through which Dragon Link would invest over $1.5 million for medical equipment and clinical tools.
Dragon Link is a Hong Kong private company and its proposed investment in Medical Care Technologies Inc. is intended to create the capital structure necessary for the Company to outfit its first health center operation in Shenzhen and, to expand its operations throughout Guangdong Province.
Under the proposed terms of the strategic agreement outlined in the MOU, Dragon Link would provide the Company with up to $1.5 million in equipment financing, with an initial cash outlay of $400,000 to outfit the Shenzhen Children’s Health and Wellness Center with German- manufactured health and dental equipment. This $1,500,000 proposed investment into Medical Care Technologies comes without having to add any new shares into the Company's current share structure.
"A substantial capital investment from Dragon Link would not only secure our equipment financing for Shenzhen, but it would also secure equipment funding for our other planned health center locations,” said Ning Wu, CEO of Medical Care Technologies Inc. “In addition, this agreement would align us with a large, successful global brand in the medical equipment industry," she added.
"This MOU is the first step toward a longer term agreement through which we plan to build on the foundation of Medical Care Technologies Inc.’s Shenzhen operation," said Fielding Sy, President of Dragon Link. “We believe this partnership will create long-term value to the customers, investors and other stakeholders of both companies," he further stated.
While the MOU is non-binding and the execution of definitive documentation is subject to negotiation, both companies are currently negotiating and intend to close the full transaction by the end of the month.
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 atwww.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 Info:
Ms. Candy Wang, Mr. Peter Verner
(852) 8122-9660
Email: contact@medicaretechinc.com, p.verner@medicaretechinc.com
http://www.medicaretechinc.com
Source: The MEDICAL CARE TECHNOLOGIES INC. ANNOUNCES $1,500,000 MEMORANDUM OF UNDERSTANDING TO SECURE EQUIPMENT FOR HEALTH CENTER OPERATIONS (SharewellNewswire.com)
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