Medical Ventures Corp.

Medical Ventures Corp.

April 21, 2008 08:30 ET

Medical Ventures Targets July 1, 2008 to Close Acquisitions

Shareholders to vote June 3, 2008

RICHMOND, BRITISH COLUMBIA--(Marketwire - April 21, 2008) - MEDICAL VENTURES CORP. (TSX VENTURE:MEV), a medical devices company specializing in products for the vascular and surgical markets, will hold its Annual and Special Meeting of Shareholders on Tuesday, June 3, 2008, in Vancouver. In addition to regular annual matters, shareholders will vote on special resolutions to proceed with the acquisition of two pre-commercial vascular development companies, B-Balloon Ltd. and Neovasc Medical Ltd., and certain other related matters, including a share consolidation. Medical Ventures will distribute and make publicly available the related proxy materials in the first week of May.

The proposed transaction, which has the unanimous support of MEV's directors, was first announced in a company news release dated January 30, 2008. Since then, a number of key transaction conditions have been met, including TSX Venture Exchange conditional approval and receipt of an Israeli securities exemption. Shareholders of each of the involved companies are expected to vote on the transaction by early June.

In conjunction with completing the proposed transaction, Medical Ventures will be changing its operating name to Neovasc Inc., in order to better reflect the focus of its ongoing operations as a specialty vascular device company.

For more information on the proposed transaction or on the target companies, see the Medical Ventures website at

Meeting details:

What: Medical Ventures Corp. Annual and Special Meeting of Shareholders

Who: MEV directors, management, and shareholders

When: Tuesday June 3, 2008, 10:00 a.m. Pacific Time

Where: Suite 3350, Four Bentall Centre, 1055 Dunsmuir Street, Vancouver, B.C., Canada

About Medical Ventures Corp.

Medical Ventures Corp. develops, manufactures and markets medical devices for the quickly growing vascular and surgical marketplace. MEV products help doctors treat a wide range of health concerns, including vascular disease and obesity. MEV products include the Metricath® arterial and in-stent measurement system, and PeriPatch™, a line of surgical tissue and staple line reinforcement products. Medical Ventures is also a contract medical devices manufacturer. For more information, please visit:

Statements contained herein that are not based on historical or current fact, including without limitation statements containing the words "anticipates," "believes," "may," "continues," "estimates," "expects," and "will" and words of similar import, constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, among others, the following: general economic and business conditions, both nationally and in the regions in which the Company operates; technology changes; competition; changes in business strategy or development plans; the ability to attract and retain qualified personnel; existing governmental regulations and changes in, or the failure to comply with, governmental regulations; liability and other claims asserted against the Company; and other factors referenced in the Company's filings with Canadian securities regulators. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company does not assume the obligation to update any forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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