Business
Medical Care Technologies Inc. Announces New Market of Focus
Medical Care Technologies Inc. Announces New Market of Focus.
About this update from Medical Care Technologies Inc.
[{"type":"text","content":"\n \n \n Medical Care Technologies Inc. Announces New Market of Focus\n \n \nMedical Care Technologies Inc. Announces New Market of Focus\n\nEfforts to Be Focused on the Accelerating Growth Market of Medical Services in Hong Kong\n\n \n BEIJING, CHINA--(Marketwired - Jan 17, 2014) - Medical Care Technologies Inc. (OTC Pink: MDCE), a healthcare company providing information technology systems and family healthcare services in China, is pleased to report on its strategic and operating actions it is taking to drive short and long-term growth.\n Medical Care Technologies Inc. is well positioned to profit from the rising demand for clinical services as Hong Kong's population rapidly ages. According to the Hong Kong Government, Secretary for Food and Health, Mr. Ko Wing-Man said earlier in 2013 that the proportion of elderly people in the Hong Kong population would rise from 1 in 8 currently to 1 in 4 by 2030. The aging population and the development of what are known as Western diseases, such as type 2 diabetes, cardiovascular diseases, breast cancer, allergies, and mental health problems are positioned to drive medical needs (China's 2013 Life Sciences Industry Outlook and Regulatory Review). The Company's recently announced strategies are expected to address these needs.\n With our extensive business network connections, both in China and in Hong Kong, Medical Care Technologies Inc. will refocus its efforts, first in the Hong Kong market as we commercialize our leading-edge medical software technologies and integrated healthcare medicine know-how. The government predicts that Hong Kong's total health-care spending will grow from 5.3 % of gross domestic product (GDP) last year to 7.5% in 2020 and to 9.3% of GDP by 2030. \n Having a robust and sustainable healthcare system will become increasingly important as China's population ages and urbanizes. The health services industry is also expected to contribute to the transformation and upgrading of China's economy, which has seen slower growth in recent years. The industry will amount to RMB 8 trillion by 2020, or around 10% of China's GDP, making it one of the country's pillar industries (Roland Berger, China Healthcare Outlook 2014).\n \"We're taking significant and decisive action to make Medical Care Technologies Inc. a more competitive company, better positioned to drive innov...