SOURCE: Medical Care Technologies Inc.

January 19, 2010 07:30 ET

Medical Care Technologies Inc. Enters Verbal MOU Regarding Distribution Agreement in Guangdong Province, China

LONDON--(Marketwire - January 19, 2010) - Medical Care Technologies Inc. (OTCBB: MDCE) today announced that it has entered into verbal discussions with Wellfield Technology Distribution Company ("Wellfield"), a private Hong Kong company, whereby, upon completion Wellfield will have the first right of refusal to purchase and distribute MDCE's health-related products in the Guangdong Province of the People's Republic of China.

The verbal Memorandum of Understanding ("MOU") will give Wellfield the option for distributing the products in Guangdong and throughout the southern region of China. Evaluations and due diligence are ongoing and expect to be concluded in approximately three to four weeks. At such time, both companies anticipate that a more definitive distribution agreement will be signed.

According to China Statistics Press, Guangdong has become the most populous and most prosperous province in China since 2005, registering 79 million permanent residents and 31 million migrants and, as of 2008, has the highest GDP among all China's provincial-level jurisdictions. Latest figures show GDP has reached 3.57 trillion Yuan (US$522B). The provincial capital Guangzhou and economic hub Shenzhen are among the most populous and important cities in China. Market research has shown that concurrent with Guangdong's increase in population and GDP, research has also shown an especially large demand for medicines and health-related products.

MDCE's President, Ning Wu, commented, "We are pleased to have this opportunity to embark on our plan of contributing to China's health care industry through the sale and distribution of our pharmaceuticals, nutraceuticals and other health-related products. The discussions with Wellfield are an important step in our long-term expansion plan in the fastest growing major cities of the People's Republic of China."

About Medical Care Technologies Inc.

Medical Care Technologies Inc. ( is traded under the symbol MDCE on the OTCBB and is based in London, England. The Company is in the process of moving its portfolio of oil resources into medical care technologies. The products/services that the company hopes to acquire are intended to constitute a healthcare delivery and wellness site, dedicated to helping Asian consumers live healthier, more balanced lives. MDCE is planning to provide advanced connectivity, internationally standardized and secure business technology and information systems to assist the Asian health industry -- physicians, pharmacists, medical institutions, and consumers -- in accessing medical resources, health services, education, wellness and pharmaceutical products throughout Asia. MDCE is planning to distribute and provide services at a diverse range of industry-leading product lines in three segments: Medical Devices, Pharmaceuticals and Nutraceuticals. Further information on the Company can be found at and the company's website at

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. There can be no assurance that the acquisition of GUC's assets will close. MDCE must issue 57,300,000 shares of its common stock to GUC, or GUC's designees in order to close the acquisition. Accounting for the anticipated cancellation of 57,300,000 shares by Patricia Traczykowski, MDCE will have 98,900,000 shares of its common stock issued and outstanding upon the closing of the acquisition.

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