Medical Care Technologies Inc. (OTCBB: MDCE), an information technology provider to the healthcare industry, has signed a Joint Venture Master Agreement (“JV Master”) with Ocean Wise International Industrial Limited (“OWII”), a private Hong Kong investment holding company, to partner in China’s rapidly expanding pediatric healthcare segment.
The 65-35 joint venture partnership has established ReachOut Holdings Limited (“RHL”), incorporated in Hong Kong, in order to open and operate pediatric health clinics throughout China.
Under the ten-year JV Master Agreement, Medical Care Technologies Inc. will own a 65% controlling interest in RHL, contributing medical software technology, technical expertise, research and development and financial resources. In turn, OWII, with its 35% interest, will provide the funding necessary to establish operations, and an executive management team to negotiate i) lease operating agreements; ii) license approval applications with appropriate Chinese government agencies and; iii) the operation and management of pediatric clinics.
“The potential for this unique partnership holds immense opportunity and would translate into improved coordination and delivery of quality pediatric care in China, which is aligned with Medical Care’s mission to improve the health of children through the prevention and treatment of illness, disease and injury,” stated Luis Kuo, Chief Operating Officer of Medical Care.
“Medical Care shares our commitment to healthcare and excellence, which makes them a logical partner,” stated Bei Shu, spokesperson for OWII. “This partnership will allow us to provide a sustainable and profitable delivery of quality healthcare to children in China.”
About Medical Care Technologies Inc.
Medical Care Technologies Inc. is traded under the symbol MDCE on the OTCBB and is headquartered in Beijing, China. The Company’s planned products and services constitute children’s health clinics and a healthcare delivery and wellness site; dedicated to helping Chinese consumers live healthier, more balanced lives. MDCE plans, through a Chinese subsidiary, to develop 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. In addition, MDCE provides advanced connectivity, internationally standardized and secure business, technology and information systems to assist the Chinese health industry – physicians, pharmacists, medical institutions, consumers â€“ access medical resources, health services, education, and health products throughout China. MDCE will also distribute a diverse range of industry-leading product lines in three segments: Medical Devices, Pharmaceuticals and Nutriceuticals. It is the Company’s goal to become a health care 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.
Image by BWJones via Flickr.
(0) Readers Comments
November 12, 2012
October 08, 2012
September 12, 2012
July 23, 2012
June 26, 2019
Oh boy...Your right we hate to hear this. You know why people in pain
Doesn't the 1.5 billion is spent a year give credence to its possitive
Many MS drugs cause PML and deaths too these drugs all need t
I knew him when he was breaking in at a couple of Los Angeles TV stati
Saying there is a 'twist' is the worst type of spoile