MKI The Medipattern Corp.

The Medipattern Corporation ("Medipattern") (TSX VENTURE: MKI), a pioneer in the development of imaging software solutions that help medical practitioners better understand lesions and critical anatomy, today announced its financial results for its third fiscal quarter of 2011 ended March 31, 2011.

Jeff Collins, CEO of Medipattern, commented "The third quarter of fiscal 2011 was significant for Medipattern as we received US FDA clearance for our new Visualize:Vascular™ 3D vascular ultrasound imaging product. Subsequent to successfully receiving our FDA clearance, we completed a $3 million financing to support fine tuning of the product, the initial limited launch over the summer and the scheduled full commercial roll-out into the vascular market in the fall of this year. Our focus in the near term will be to continue to capitalize on the exceptional industry response Visualize:Vascular™ has generated through initial testing. The technology is proving to be clinically valued by vascular surgeons, radiologists and cardiologists."

Collins also remarked, "The results from the next clinical study using the 3D rendering feature provided by Visualize:Vascular™ are planned to be presented at the Annual Vascular meeting which is the joint annual meeting for the Society for Vascular Surgeons and the Society for Vascular Ultrasound from June 16 to 18 in Chicago. The paper, "Three Dimensional Reconstruction of the Vessel Lumen as an Adjunct to the Cerebrovascular Duplex Evaluation" by Francis J. Porreca, MD, FACS, RPVI, Angela Rodriguez-Wong, MD, RVT, RPVI, and Joseph P. Hughes, RVT, RVS will be presented at that time. We believe the product launch will be amplified through substantiated clinical benefits and have directed our efforts toward sponsoring investigations with clinical research partners," Collins concluded.

Business Highlights for the 9 months of Fiscal 2011 ended March 31, 2011:

--  September 22, 2010 - Medipattern announces its core technology "system
    and method of computer-aided detection (CAD)" received United States
    Patent # 7,783,094.

--  February 17, 2011 - Medipattern announces it has received US FDA
    clearance for its new Visualize:Vascular™ 3D vascular ultrasound
    imaging product.

--  March 9, 2011 - Medipattern closes its $3,000,000 Senior Secured
    Convertible Note financing announced on March 1st (the "Convertible
    Notes"), which bear interest after December 31, 2011 on a semi-annual
    basis, payable on March 31 and September 30 each year at the rate of 8%
    in 2012, 16% in 2013, and maturing on December 31, 2013. The Convertible
    Notes may be converted by holders into common shares of Medipattern, at
    a conversion price of $0.37 per share, subject to adjustment in certain
    circumstances. The proceeds will be used by Medipattern to augment
    operating working capital and will enable it to commercialize its new US
    FDA approved product Visualize:Vascular™.

Financial Highlights for Q3 Fiscal 2011:

--  Revenue totaled $57,929 (Q3 2010 - $20,735) for the fiscal quarter ended
    March 31, 2011, a 179% increase from last year, while 9 month revenues
    increased in fiscal 2011 to $113,102 compared to 2010's $38,865, a 191%
    increase. Licensing fees in Q3 2011 were $23,105 (Q3 2010 - $20,735) and
    totaled $48,591 for the 9 months compared to $38,865 for fiscal 2010.
    Subscription rental fees in Q3 2011 increased to $6,647 (Q3 2010 - $nil)
    and for the 9 months ended March 31, 2011 totaled $36,334 versus $nil in
    fiscal 2010. Professional fees of $28,177 were earned in Q3 2011 (fiscal
    2010 - Nil) as the Company deployed R&D resources to augment cash flow.
    The Company remains committed to focusing its internal R&D capabilities
    on meeting its deadlines for completion of development and
    commercialization of its new 3D vascular ultrasound software
    Visualize:Vascular™, scheduled for early fiscal 2012, but will
    continue to consider external fee generation if resource allocation
    allows;

--  Operating expenses in Q3 fiscal 2011 totaled $648,011 versus $701,350 in
    last years' fiscal quarter, an overall decline of $53,339, or 8%. For
    the 9 months ended March 31, 2011 operating expenses totaled $1,872,174
    versus $2,232,394 in the same 9 month period in 2010, a YTD 16% decline.
    Prior to incremental fiscal 2011 interest expenses (cash and accreted)
    on its Convertible Debt of $83,871 and $211,792 for the 3 and 9 month
    periods respectfully, direct non-interest operating expenses actually
    fell by 20% and 25% in the fiscal periods. Medipattern remains committed
    to preserving its cash resources and controlling all discretionary
    spending until operating cash flow improves in response to its ongoing
    commercialization of its award winning software products;

--  Resulting net loss for Q3 fiscal 2011 was $590,082 ($0.01 per share)
    versus $680,615 ($0.01 per share) for Q3 2011. For the 9 months ended
    March 31, 2011 Medipattern reported a loss of $1,759,072 ($0.03 per
    share) versus a loss of $2,193,529 ($0.04 per share) for the previous 9
    month period, a 20% improvement;

--  As at March 31, 2011, cash and cash equivalents totaled $382,130 (June
    30, 2010 - $269,329), current assets, including highly liquid short-term
    investments of $2,869,593 (June 30, 2010 - $1,250,000), were $3,701,261
    (June 30, 2010 - $2,070,913) and current liabilities were $286,347 (June
    30, 2010 - $377,443). Working capital in the 9 month period ended March
    31, 2011 increased $1,721,444 to $3,414,914 (June 30, 2010 - $1,693,470)
    as cash consumed in period operating losses was augmented by proceeds of
    the March 9, 2011 Convertible Note financing.

Results of Operations:

                      THE MEDIPATTERN CORPORATION
        UNAUDITED STATEMENT OF OPERATIONS and COMPREHENSIVE LOSS
      FOR THE 9 and 3 MONTH PERIODS ENDED MARCH 31, 2011 AND 2010

------------------------------------------------------------------------
                         March 31,    March 31,   March 31,   March 31,
                              2011         2010        2011        2010
                         UNAUDITED    UNAUDITED   UNAUDITED   UNAUDITED
------------------------------------------------------------------------
------------------------------------------------------------------------
                         (9 months)   (9 months)  (3 months)  (3 months)

REVENUES:
  Licensing fees       $    48,591  $    38,865  $   23,105  $   20,735
  Professional fees         28,177            -      28,177           -
  Subscription rental
   fees                     36,334            -       6,647           -
                       ----------- ------------ ----------- ------------
                           113,102       38,865      57,929      20,735

OPERATING EXPENSES
  Research and
   development             695,046      717,518     231,263     251,210
  Administration and
   product support         635,271      819,451     228,001     267,564
  Sales and marketing      303,525      654,758      97,633     174,141
  Interest on
   convertible debt        131,842            -      47,565           -
  Accreted interest on
   convertible debt         79,950            -      36,306           -
  Foreign exchange loss
   (gain)                    8,957       10,905       1,684      (2,167)
  Investment income         (7,965)      (2,339)     (2,957)       (514)
  Amortization of
   property and
   equipment                25,548       32,101       8,516      11,116
                       ----------- ------------ ----------- ------------
                         1,872,174    2,232,394     648,011     701,350
---------------------------------- ------------ ----------- ------------
NET LOSS AND           $
 COMPREHENSIVE LOSS     (1,759,072) $(2,193,529) $ (590,082) $ (680,615)
------------------------------------------------------------------------
------------------------------------------------------------------------


Weighted Average Shares                           57,181,23   56,227,57
 Outstanding            57,181,233   56,227,572           3           2
------------------------------------------------------------------------
------------------------------------------------------------------------

Loss Per Share - Basic $
 and diluted                 (0.03) $     (0.04) $    (0.01) $    (0.01)
------------------------------------------------------------------------
------------------------------------------------------------------------

For further details concerning Medipattern's results, please see the Company's filings on SEDAR. (www.sedar.com).

2011 Upcoming Events:

--  Society of Vascular Medicine (SVM) Annual Meeting, Boston June 2-4
--  Society of Vascular Surgery (SVS) Annual Meeting, Chicago June 16-18
--  Society of Vascular Ultrasound (SVU) Annual Meeting, Chicago June 16-18

About The Medipattern Corporation:

--  Medipattern® is a pioneer in the development of imaging software
    solutions that help medical practitioners better understand lesions and
    critical anatomy. Medipattern uses its Cadenza™ Algorithm Technology
    to power Visualize:Vascular™ 3D reconstruction of areas of interest
    within the vessel as well as our first-to-market, award-winning B-CAD®
    advanced breast ultrasound computer aided detection (CAD). For more
    information, please visit the Company's website at: www.medipattern.com.

B-CAD® and Medipattern® are registered marks of The Medipattern Corporation. Visualize: Vascular™ and Cadenza™ are trademarks of The Medipattern Corporation.

Forward-looking statements

This document contains forward-looking statements relating to Medipattern's performance, operations, or business environment. These statements are based on what we believe are reasonable assumptions given currently available information and our understanding of Medipattern's current activities. We have tried, whenever possible, to identify these forward- looking statements using words such as "anticipates,'' "believes,'' "estimates,'' "expects,'' "plans,'' "intends,'' "potential'', and similar expressions. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or control. A number of factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements. These factors include but are not limited to those set forth in the Company's corporate filings, (posted at www.sedar.com). In addition, these forward- looking statements relate to the date on which they are made. The Company disclaims any intention or obligation to update or revise any forward-looking statements for any reason. Readers should not rely on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts: The Medipattern Corporation Jeff Collins CEO (416) 744-0009 ext. 224 jcollins@medipattern.com www.medipattern.com Spinnaker Capital Markets Inc. Kevin O'Connor (416) 962-3300 ext. 226 ko@spinnakercmi.com