Medical Care Technologies Inc. to Institute Stock Buy Back Plan for Company Expansion

BEIJING, June 27, 2011 /PRNewswire/ -- Medical Care Technologies Inc. (OTCBB: MDCE), a growing children's healthcare service provider, announced today that, with the opening of its first flagship pediatric health and wellness center set to open in a few short months and its plans for additional health center openings, the Company is strategizing to buy back up to USD $1.5M worth of its common shares over the next six months.

Medical Care Technologies Inc. announced that funding has been obtained for its health center license and now will open and operate the first of five planned children's healthcare facilities in China over the next eighteen months (June 9 and 13, 2011 news releases). Its flagship health center is set to open well ahead of the initial spring 2012 launch date in the heart of Dongguan, Guangdong, one of China's fastest growing and wealthiest provinces, with added health centers planned in China's larger and rapidly expanding Tier-2 cities to service the growing economy and population.

With the proposed purchase of up to USD $1.5M of its own stock and return it to the Company's treasury, Management believes it will enhance the value of the Company for future expansions.

"We have made tremendous strides forward over the past six months and now will be generating cash flow once our health center is opened. We are extremely confident in the long-term growth of our children's healthcare operations in China and our plans to repurchase our stock will only add to shareholder value," said Luis Kuo, Chief Operations Officer of Medical Care Technologies Inc.

"I am pleased that the Board is stipulating to buy back its shares. We want to demonstrate our commitment to returning capital to our shareholders," stated Ning Wu, President of Medical Care Technologies Inc.

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 and upper 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.

For Further Information:
Contact: Don Griffin
Tel: (480) 251-1449    Fax: (810) 222-5453
Email: [email protected]
Web: www.medicaretechinc.com

SOURCE Medical Care Technologies Inc.