BEIJING, July 11, 2011 /PRNewswire/ -- Medical Care
Technologies Inc. (OTCBB: MDCE), a rapidly growing children's
healthcare service provider, announced today that it has now
entered into the next stage of license application approval talks
to operate pediatric health centers in Beijing.
With its first approval now granted in Dongguan, Guangdong
Province, Medical Care Technologies Inc. is expanding its
sphere to develop and operate integrated children's health centers
in new provinces throughout China.
After a series of meetings last week with government health
officials, Management is confident that approval is imminent for
expansion in Beijing, provided all
the necessary requirements are met throughout the license
application process.
"This is a major step forward and we are delighted and
enthusiastic about being selected to operate in Beijing. Our subsidiary, Teddyberry™ and
Company, can now expand and give children quality healthcare and
afford their families the comfort of knowing their children are in
good hands," stated Ning Wu, Chief
Executive Officer of Medical Care Technologies Inc.
As China continues to develop
into a global economic power, many areas of the country's
infrastructure will have to grow as well, among which healthcare is
key. Consequently, the government has heavily invested in
healthcare spending, especially children's healthcare, and the
industry is forecasted to grow at a CAGR of over 16% for the period
2011-2013 (China Healthcare Sector Analysis: China Business,
May 2011).
With China's growing
middle-class population, the demand for advanced healthcare
services has increased in step with the rising disposable income of
its 1.3 billion people (EST.). It is in this market niche
that the Company wishes to service the demand. The first
Teddyberry™ health and wellness center in Dongguan, China is forecasted to open in
fourth quarter 2011.
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.
For Further
Information:
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Contact: Don
Griffin
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Tel: (480)
251-1449
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Fax: (810)
222-5453
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Email: don@virmmac.com
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Web:
www.medicaretechinc.com
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SOURCE Medical Care Technologies Inc.