Medical Care Technologies Inc. Commences Trials for Continuous Glucose Monitoring as Add-On
January 13 2010 - 7:30AM
Marketwired
Medical Care Technologies Inc. (OTCBB: MDCE) today announced that
it has commenced trials to include Continuous Glucose Monitoring
(CGM) to its current Tele-Health(TM) Suite. Management believes
that by adding this function to its Tele-Health(TM) technology,
users will be able to monitor and better control their diabetes
while reducing costs.
The Tele-Health(TM) Suite is a software that enables continuous
interaction between the patient and the healthcare professionals
for a more efficient and effective way of treating, supporting,
managing and monitoring wellness. With this application we will
focus on patients with diabetes. This unique solution will every
day instruct patients to measure their blood glucose readings, as
required to their long term condition. It can also provide
medication reminders and ask the patient questions about their
health. All this information is sent via the Internet to the
patient's clinic for clinical triage which can then be managed by
other healthcare professionals. If necessary, a patient to live
Doctor Video Appointment can be conducted as well.
Management, through trials, hopes to show that their REAL-Time
CGM add-on can reduce the duration of hypoglycemic events. Trial
data being collected include the patient's diet, exercise habits,
weight, stress factors and overall lifestyle as variables to
display glucose values. Management hopes that with the information
that CGM Tele-Health(TM) can provide users with, intervention may
come early enough to reduce costs associated with regular hospital
visits. As stated by the Chinese Health Economics, under the
Chinese system, patients chose to visit primary, secondary, or
tertiary hospitals on their own, and may overuse healthcare
services by selecting unnecessary high-level hospitals for diabetes
treatment; it was reported that 997 (6%) tertiary hospitals
nationwide consumed 54.73% of China's total healthcare
expenditures.
It is predicted that healthcare expenditures due to diabetes
will continue to rise. According to the International Diabetes
Federation and World Health Organization, diabetes affects 38.9
million people in China and this number is expected to reach 100
million by the end of this year. China has the second highest
prevalence of diabetes globally. In total, the estimated economic
cost of Type 2 Diabetes (T2DM) and its complications was $32.2
billion for 23.46 million T2DM patients in 2007 and projected to be
$58.5 billion for 42.3 million T2DM patients in 2030.
The health sector in China faces challenges that it must provide
access to equitable health care and it must reduce its health care
costs. Telehealth may offer the opportunity of giving the people of
China equal access to medical care at an affordable cost. It is
Management's goal to reduce costs by developing strategies working
with the general population, doctors, clinics, and hospitals to
Diagnose, Educate, and Treat patients via the Tele-Health(TM)
Suite. Our mission will be to offer Preventative Solutions and
Treatment Strategies by using our technology to reduce the number
of incidents and complications of diabetes and therefore save
costs.
Also acknowledging the need to reduce healthcare costs, The
Chinese Government's recently announced policy statement on
'Deepening Healthcare System Reform' which seeks, with a budget of
$124 billion to among other things build a health clinic in each of
the country's 700,000 villages.
"With our network in China MDCE will seek to take advantage of
this program as it is seen to be a provider of innovative solutions
that can be implemented," states Ning Wu.
In addition, Ning Wu, President of MDCE, states, "We are excited
about the possibility of our CGM Tele-Health(TM) achieving
automated glucose measurement, thereby offering those with diabetes
a promising new tool for maintaining optimal glucose control. Our
mission will be to offer Preventative Solutions and Treatment
Strategies by using our technology to reduce the number of
incidence and complications of diabetes and therefore save costs."
Management hopes to have its REAL-Time CGM available on its
Tele-Health(TM) Suite in the next quarter.
About Medical Care Technologies Inc.
Medical Care Technologies Inc. (www.medicaretech.com) is traded
under the symbol MDCE on the OTCBB and is based in London, England.
The Company is in the process of moving its portfolio of oil
resources into medical care technologies. The products/services
that the company hopes to acquire are intended will constitute a
healthcare delivery and wellness site, dedicated to helping Asian
consumers live healthier, more balanced lives. MDCE is planning to
provide advanced connectivity, internationally standardized and
secure business, technology and information systems to assist the
Asian health industry -- physicians, pharmacists, medical
institutions, consumers -- in accessing medical resources, health
services, education, wellness and pharmaceutical products
throughout Asia. MDCE is planning to distribute and provide
services at a diverse range of industry-leading product lines in
three segments: Medical Devices, Pharmaceuticals and
Nutriceuticals. Further information on the Company can be found at
www.sec.gov and the company's website at www.medicaretech.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. There can be no
assurance that the acquisition of GUC's assets will close. MDCE
must issue 57,300,000 shares of its common stock to GUC, or GUC's
designees in order to close the acquisition. Accounting for the
anticipated cancelation of 57,300,000 shares by Patricia
Traczykowski, MDCE will have 98,900,000 shares of its common stock
issued and outstanding upon the closing of the acquisition.
For Further Information: Ezra Smith C. Jones Consulting, Inc.
Tel: (727) 771-9500 Fax: (727) 771-9545 Email:
cjones@cjonesconsulting.com Web: www.cjonesconsulting.com
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