BEIJING, CHINA - via eTeligis (Feb 26, 2014) - Medical Care Technologies Inc. (OTC Pink: MDCE), is a healthcare technology company providing information technology solutions and family healthcare services in China. As China continues to develop, the country's healthcare infrastructure also continues to progress with ongoing heavy investment in government healthcare spending.
In 2012, the State Council of China published its 12th Five-Year Plan for developing its healthcare services, which includes establishment of a national unified medical and health information standard system. Up to 2012, hundreds of electronic health record systems and electronic medical systems have been developed, but the systems are still in their infancy, and China is facing a variety of challenges in implementation of the systems.
Medical Care Technologies Inc., aims to take a leadership role in the fast growing Healthcare Informatization industry in China. Our approach is 3-pronged to include: 1) enhancing the IT and information capabilities of hospitals; 2) integrating clinical functions such as electronic health records and operating data from hospital or clinic visits and, 3) sharing of information among hospitals and between health regions. With our recently announced partnership with a Chinese Tier A Systems Integrator, we are well-positioned to target government Healthcare Informatization contracts.
According to the data from China Hospital Association, China's medical industry spent CNY 18 billion (USD 2.94 billion) on IT in 2012, rising by 23% compared with the previous year; the annual average growth rate was nearly 25% for recent five years.
According to the 12th Five-Year Informatization Promotion Arrangements of Ministry of Health, China's Healthcare Informatization will be comprehensively promoted during 2014 to 2015. As a result, the Healthcare Informatization industry will step into an explosive phase in 2014 and usher in a faster growth period.
James Lau, Chief Executive Officer of Medical Care Technologies Inc. comments, "We are well positioned to take advantage of the expansive growth of China's Healthcare Informatization industry. With our comprehensive e-Health technologies, together with collaboration and partnership with a Tier-A System Integrator in China, we will be able to establish ourselves quickly as a leading solution provider of cloud-based Electronic Health Records -- EHR solution there."
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.
CONTACT:
For Further Information:
Corporate Communications
Email: contact@medicaretechinc.com
Tel: (852) 8122-9660
Web: www.medicaretechinc.com
SOURCE: Medical Care Technologies Inc.