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Medical Care Technologies Inc. Announces Financing Approval For Medical Equipment
Date:2/4/2013

BEIJING, Feb. 4, 2013 /PRNewswire/ -- Medical Care Technologies Inc. (OTCBB: MDCE), a growing American medical company providing information technology systems, family and children's healthcare services and Western healthcare products for  distribution in China, is pleased to announce that it has received approval from a major Australian financing firm who will underwrite a minimum of US $500,000 in equipment financing to fund the Company's acquisition of medical equipment for its Shenzhen health clinic.

The financing will be guaranteed by a principal of the Company's Chinese joint venture partner and secured by the medical equipment purchased.  Thus far, MDCE has identified and sourced pricing of US $365,000 in medical equipment and clinical tools for its Shenzhen clinic. Terms of the financing are expected to be in the range of 36-60 months, with an effective interest rate of between 6-8% and can be repaid without penalty at any time. Title to the medical equipment will transfer to the Shenzhen clinic operations at the completion of the term.  The financing proposal is subject to customary closing conditions.

Medical Care Technologies Inc. announced last fall, the signing of an MOU with Dragon Link Group Ltd. of Hong Kong, for an infrastructure financing of approximately US $1.5M.  With a minimum US $500,000 approval from the Australian underwriter, Dragon Link's infrastructure financing will reduce to US $1M. This arrangement between Dragon Link and MDCE, which encompasses the Shenzhen clinic, a Dongguan location, and future operations across Guangdong Province, is still very much in play.  Dragon Link's extensive due diligence of MDCE's proposed clinic operations is nearing completion and e
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SOURCE Medical Care Technologies Inc.
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