SOURCE: Medical Care Technologies Inc.

February 26, 2014 08:15 ET

Medical Care Technologies Inc. Reaches Initial Partnership Agreement for e-Health Systems Integration

Partnership Aims to Develop and Implement Electronic Health Records for Hong Kong and China

BEIJING, CHINA--(Marketwired - Feb 26, 2014) - Medical Care Technologies Inc. (OTC Pink: MDCE), a healthcare technology company providing information technology solutions and family healthcare services in China, is pleased to announce it has reached an initial agreement with a Tier A system integrator and services company in China to work together on the commercialization and deployment of Medical Care Technologies Inc.'s e-Health solutions.

The Tier A system integrator has extensive experience in delivering software solutions to all levels of the Chinese government including a citizen/health smart card that can be used throughout China. The partnership aims to deliver comprehensive, cloud-based, mobile-accessible, and electronic health record solutions for hospitals' and clinics' patients throughout China. The partnership will also aim to provide e-Health application hosting and IT support services for integrated healthcare centers in Hong Kong and China.

The Tier A system integrator has been a leading provider of solutions, software products and IT services throughout China for over 20 years. It has an excellent track record of on time and on budget delivery of IT solutions to governments, state owned enterprises and major banks in China.

"We are very pleased to have such a capable Tier A system integrator in China as a partner to rollout our e-Health solution in Hong Kong and China. The Tier A company's experience in the handling of sensitive personal information and in the on-time delivery of complex solutions to the Chinese government will complement well to Medical Care Technologies Inc.'s' comprehensive portfolio of e-Health technologies," said James Lau, Chief Executive Officer of Medical Care Technologies Inc. He further added, "This project represents one of the first comprehensive cloud based e-Health record projects across China and will support the needs of modernizing China's healthcare industry. This project is an important example of a modernized healthcare system optimizing the use of e-Health technologies and we foresee it as a showcase for China's e-Health evolution." 

The partnership agreement is expected to be completed in approximately 2-3 months. To execute the transaction with the Tier A systems integrator requires further work on structure, management, governance, and other significant matters and, Management is developing detailed plans for the Board's further consideration and final approval. Once the final terms of the transaction have been negotiated, the systems integrator's name will be released.

About Medical Care Technologies Inc.
Medical Care Technologies Inc. is traded under the symbol MDCE on the OTC Markets and is headquartered in Beijing, China. MDCE, through joint ventures or Chinese subsidiaries, develops a network of family and children's health facilities in the larger urban areas throughout China. Services are geared towards the advancing economic middle-class Chinese families. MDCE's role is to enhance the overall well-being of the family and community and to expand its healthcare services to include preventative health and wellness education. MDCE's main mission is simple -- to become a healthcare service provider leader in family and children's health. Information on the Company can be found on 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.

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