Business Wire - July 3, 2002
Consolidated Mercantile Consulting Group S.A.L. is well established as a distributor in the Middle East. The Distribution Agreement is for a 5 year period starting July 1, 2002. Consolidated Mercantile Consulting Group must purchase a minimum of 50,000 VScan(TM) Rapid Test Kits in each year of the agreement. They will be responsible for obtaining all required regulatory approvals in IRAQ. Such approvals are estimated to take approximately sixty days.
Medical Services International Inc. has been informed that IRAQ is requiring mandatory testing for HIV by all people intending to be in IRAQ for more than 72 hours. Middle East countries are also requiring yearly mandatory testing for HIV and TB by their armed forces. Medical Services International Inc. feels that this initial Distribution Agreement will act as a stepping stone for additional opportunities in this part of the world. The VScan(TM) Rapid Diagnostic Test Kits are ideally suited for this environment. The test kits are cost-effective, easy to use, do not require any medical and skilled personnel and require no electricity or refrigeration and can be safety stored at room temperature.
About Medical Services International Inc.
Medical Services International Inc. is a medically related holding company comprised of two core businesses. The company operates medical facilities on Anguilla, B.W.I. that supply medical diagnostic services and dialysis. The facility combines the recreational aspects of a Caribbean destination with the availability of North American quality medical services. The diagnostic test division was created in response to a worldwide demand for less costly, rapid technically simplified test methods to test for infectious diseases. The company has developed its VScan (TM) Rapid Test Kits for the detection of HIV 1 & 2, Hepatitis B and C and Tuberculosis. The company is currently in negotiations with major healthcare concerns to supply these tests to the worldwide market.
Medical Services International Inc. has also acquired a strategic interest in a call center operator (Teltek International Limited) based in the British West Indies. The call center operation operates full service call centers with the latest customer relationship management technology specializing in providing call center out-sourcing solutions and out-bound telemarketing services to major U.S. multi-national corporations.
Medical Services International Inc. trades in the United States on the NQB Pink Sheets under the symbol "MSITF".
Note: Certain statements in this news release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause results to differ materially. Such risks, uncertainties and other factors include, but are not limited to new economic conditions, risk in product technology developments, market acceptance of new product and continuing product demand, level of competition and other factors described in the company reports, prospectus and other filings with the Securities and Exchange Commission.
CONTACT: Medical Services International Inc. Robert Talbot, 780/430-6363 Bill Whitehead, Jr., 416/822-5883 www.MedicalServicesIntl.com
SOURCE: Medical Services International Inc.
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