OXFORD, Miss., March 14, 2007 (PRIME NEWSWIRE) -- Modern Technology Corp, a bioscience technology development and acquisition company, announced today it has entered into a Letter of Intent to acquire 100% of VitalCare Technology Enterprises. The complete Letter of Intent will be timely filed under a Form 8K with the SEC.
VitalCare Technology Enterprises is a company specializing in Healthcare Services Management and Healthcare Sales and Marketing, with an emphasis in introducing the Healthcare Industry and Global Consumers to "Cutting Edge" medical technology and services.
MODC and VitalCare will work closely together to expand VitalCare's current marketing, distribution and expansion plans within the healthcare marketplace. As part of the contemplated agreement between the companies, VitalCare will seek to expand, establish, and otherwise promote the AnuCyte Cancer Detection System throughout its marketing areas and relationship networks.
Anthony Welch, Chairman, said: "We continue our strategy of bioscience acquisitions and building an infrastructure compatible with the promotion and sales of various medical devices and related services. VitalCare will be of great value to us as we prepare for our initial marketing and sales efforts for our AnuCyte Cancer Detection lab service."
About the AnuCyte Cancer Detection System
The AnuCyte Cancer Detection System is an automated machine that can rapidly detect any form of cancer. The system accurately identifies cancer at any stage in its development and also identifies healthy cancer-free cells in the same test within the same sample. The system eliminates heretofore unreliable, subjective, and error-prone pathology detection of cancer and delivers an automated and objective measurement of the presence or absence of cancer. The AnuCyte system is the first and only system in the world that uses the measurement of advanced chromosomal imbalance as the primary or sole means of detecting cancer. System testing in collaboration with the Cleveland Clinic and Texas Southwestern University demonstrated AnuCyte to successfully detect cancerous and precancerous cells in hundreds of cervical samples and scores of fine needle aspirates from breast tumors. The company is not aware of any automated system in the world more accurate, or even close to AnuCyte's accuracy. For a White Paper demonstrating the accuracy and truth of the above claims, you may acquire a copy from this link: http://www.insightmedicalgroup.com/library/IMG_White_Paper.pdf
About Modern Technology Corp
Modern Technology Corp, a bioscience technology development and acquisition company, builds revenues through a model continuous growth, strategic acquisitions, and commercialization of nascent technology. MODC is a fully-reporting public company with the US Securities and Exchange Commission. For the company's SEC filings, visit www.sec.gov. The company's web address is: http://www.moderntechnologycorp.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.