BEIJING, Feb. 18, 2011 /PRNewswire/ -- Medical Care Technologies Inc. (OTC Bulletin Board: MDCE) is pleased to announce that the Company's President and CEO, Ning C. Wu, has returned from a successful trip to Beijing and Hong Kong where she visited a number of children's hospitals, both state-run and private. Several key meetings were held with high ranking health care officials and medical professionals to discuss proceeding with the Company's application for China State license approval in order to open and operate children's health centers throughout China.
Management is committed to establishing a Medical Advisory Board with qualified representatives in the health care industry. Key meetings were held with Dr. Ciu-Lan Bao, a renowned specialist in early childhood development and head physician at the Department of Pediatrics, Beijing Xiehe Hospital, as well as Dr. Xiao Le Zhang, Head of the Pharmaceutical Department at Peking University Hospital. Both medical professionals gave recommendations on how to proceed with a formal business plan for submission to the Chinese State Authorities. Dr. Bao and Dr. Zhang are considering a more formal role on the Company's Medical Advisory Board.
Madame Wu also met with finance executives of Asian investment banks and Management is currently in negotiations with these firms to support plans for the children's health centers. We are seeking additional financial investments to further the development of our projects.
Madame Wu stated, "We are excited about initiating dialogue with the Chinese medical community. Our meetings with medical experts have been highly received and our next progression is to conduct a market feasibility study and layout a formal business plan to seek state approval for a license to operate. We remain confident that we will be able to secure both short-term and long-term financing for the Company."
About Medical Care Technologies Inc.
Medical Care Technologies Inc. is traded under the symbol MDCE on the OTCBB and is headquartered in Beijing, China. The Company's planned products and services constitute children's health clinics and a healthcare delivery and wellness site; dedicated to helping Chinese consumers live healthier, more balanced lives. MDCE plans, through a Chinese subsidiary, to develop 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. In addition, MDCE provides advanced connectivity, internationally standardized and secure business, technology and information systems to assist the Chinese health industry - physicians, pharmacists, medical institutions, consumers – access medical resources, health services, education, and health products throughout China. MDCE will also distribute a diverse range of industry-leading product lines in three segments: Medical Devices, Pharmaceuticals and Nutriceuticals. It is the Company's goal to become a health care 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.