BEIJING, Oct. 26, 2012 (GLOBE NEWSWIRE) -- Medical Care Technologies Inc. (OTCBB:MDCE), a growing American company providing children's healthcare services and western healthcare products distribution in China, is pleased to announce that it has engaged Quartermaine, Asquith & Associates (QAA) to provide corporate development and strategic advisory consulting services.
QAA, established in 2007, is a progressive and innovative consulting firm that develops solution-based advisory planning, corporate development and restructuring, mergers and acquisitions, and private capital solutions to Asian-based companies at all stages of development. The principals each have over 20 years of specialized experience that are utilised to meet complex business goals and solutions. QAA also offers fund placement advisory services, assists businesses to navigate unique challenges, and provides expertise on special projects and initiatives. QAA also helps develop corporate and operational management personnel infrastructure and support.
Most recently, QAA was instrumental in securing Medical Care Technologies Inc.'s recently appointed Chief Operating Officer. In the Company's news release dated October 12, 2012, (Ret.) Lt. Col. Joe Hall was hired as COO to work with QAA to implement new operational strategies in the Shenzhen clinic model of patient-centered care, to provide for maximum administrative efficiency and optimal care for children and their families, and a more progressive approach to facilitating the launch of the Shenzhen clinic model.
In addition, QAA was the introducing partner that brought together the Company and Dragon Link Group (DLG). As previously reported in the news release dated September 13, 2012, the Company and DLG signed a memorandum of understanding (MOU) whereby DLG proposed to provide up to $1.5M in capital necessary to outfit the Company's planned health centers throughout Guangdong province with medical equipment and clinical tools and, with an initial cash outlay of $400,000 earmarked for the Shenzhen center. Due diligence by both parties is currently underway.
"QAA have a proven track record in supporting financing efforts for several healthcare and pharmaceutical companies," stated President of Medical Care Technologies Inc., Luis Kuo. "We will benefit from QAA's broad range of experience in operational consultation and are thrilled to have them work with us to move our children's clinic agenda forward," Kuo added.
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 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.