MDCE Medical Care Technologies Inc (PK)

BEIJING, June 3, 2011 /PRNewswire/ -- Medical Care Technologies Inc. (OTCBB: MDCE), a rapidly growing children's healthcare service provider, announced today that it is set to open its first of a string of planned pediatric health and wellness centers before the end of its fiscal year 2011.

As China works toward a landmark healthcare reform program, which is planned to be fully implemented by 2020, one of its aims is to improve the supply of healthcare by the easing of government regulations for foreign investment in private healthcare services.  This move was made to relieve some of the burden on state funding, with the private health sector catering for the more affluent element of the country's population (The State Council of China, January 2011).  The new policies are crucial for ensuring increased demand for medical services is met as the country industrializes and urbanizes, said Zhou Qiren, director of the China Center for Economic Research (CCER) at Peking University.

As Medical Care Technologies, Inc. prepares to open its flagship children's healthcare center doors only a few short months away in Dongguan, Guangdong Province, discussions have now begun to open more children's health facilities in the bigger cities.  Management now hopes to take advantage of the eased restrictions to open private children's health and wellness centers in major cities, such as Beijing and Shanghai and, second-tier cities like Guangzhou and Tianjin. The Company plans to open, staff and operate two more pediatric health facilities in 2012.

Lured by roughly 300 million-strong emerging middle class, the Company has geared their health services program to include state-of-the-art equipment, cleanliness of the facilities, top-quality healthcare for young children, and overall warm and caring customer service for the families that are up to western nations' standards. Surveys show that more than 80 percent of the middle class Chinese consumers are dissatisfied with customer service in public healthcare and are willing to pay up to seven times more for private than public health services (American Business Journal, April, 2011).  Management expects its children's centers to serve roughly a minimum of 300 patients weekly, generating an estimated $30-40 million Yuan Renminbi (RMB) in revenues per location, which translates to approximately $4.5 to $6 million U.S. Dollars in revenues per location yearly.

"This is an amazing time for us," stated Ning Wu, Chief Executive Officer of Medical Care Technologies Inc. "This news is truly welcomed and comes at a key phase of our growth. This fits in with our business model and we feel certain the healthcare reform initiatives will spur our infrastructural growth well beyond our initial estimations for at least the next 10 years."

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.

SOURCE Medical Care Technologies Inc.