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news.Medical Care Technologies (Medical Care) has entered into verbal discussions with Wellfield Technology Distribution (Wellfield), whereby upon completion, Wellfield will have the first right of refusal to purchase and distribute MDCE's health-related products in China's Guangdong province.
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Reportedly, the verbal Memorandum of Understanding (MOU) will give Wellfield an option for distributing the products in Guangdong and throughout the southern region of China. Evaluations and due diligence are ongoing and is expected to be concluded in approximately three to four weeks. At such time, both companies anticipate that a more definitive distribution agreement will be signed.
Ning Wu, president of Medical Care, said : “We are pleased to have this opportunity to embark on our plan of contributing to China’s health care industry through the sale and distribution of our pharmaceuticals, nutraceuticals and other health-related products. The discussions with Wellfield are an important step in our long-term expansion plan in the fastest growing major cities of the People’s Republic of China.”