Medical Care Technologies, a growing children's healthcare service provider,has received a Reserve Equity Financing of US$10,000,000 over a term of 4 years.
The Reserve Equity Financing ("REF") with AGS Capital Group, LLC, is a comprehensive financing solution that will provide direct investment capital of up to $10 million without putting undue stress upon the Company's share capital structure. It is an inexpensive and flexible financing strategy in which the Company controls the amount of any advance and its timing – the how and when, therefore, regulating and minimizing any potential impairment to its share structure.
"We believe this funding will provide us with the flexibility needed to expand our business," said Luis Kuo, Chief Operating Officer. "As the demand in China to implement our business model and to expand our children's health centers to other locations has been overwhelming, securing the right financing will give us the ability to manage both the long-term growth of the Company and shareholder value."
Ning Wu, Chief Executive Officer, stated, "We are excited to be entering into a relationship with a strong financial partner. It took research and many months to come to what we believe will turn the tides for Medical Care Technologies Inc. This type of financing will allow us to grow, concentrating our efforts on developing, building and staffing of children's health centers without the constant pressure of financing."
"We believe that there is a tremendous market in China for the services that Medical Care Technologies Inc. provides and see significant growth for the company during the next year," says Allen Silberstein, Chief Investment Officer of AGS Capital Group.
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