HCTL Healthcare Tech Ltd (MM)

NEW YORK, January 3 /PRNewswire-FirstCall/ -- Chairman and CEO of NexGen Biofuels, Mr. Ram Ajjarapu is pleased to announce that Healthcare Technologies Ltd. (NASDAQ:HCTL) (the "Company") has completed the acquisition of NexGen Biofuels assets in accordance with the terms of the asset purchase agreement signed between the parties in January, 2007. The Company plans to change its name to NexGen Biofuels Ltd. to more clearly reflect its new business, which will be to pursue alternative and renewable fuel sources and production through the acquisition of existing production facilities and/or through the building of new production facilities. NexGen Biofuels is also pleased to announce that it has received initial funding for its business plan, although additional funding will be necessary to complete its business plan. Funding received to date will be used for legal/technical/environmental due diligence expenses in connection with the proposed acquisition of biofuel operating plants. Mr. Eran Rotem the Company's CFO stated that "After working on this transaction for approximately one year, I am pleased to see the merger come to fruition and am extremely excited to be part of the NexGen team and to partake in the implementation of NexGen's business plan." For more information on NexGen Biofuels, visit http://www.nexgenbiofuels.net/ SAFE HARBOR: This press release contains certain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward looking statement made by or on behalf of Healthcare Technologies Ltd. Readers are referred to the documents filed by the company with the Securities and Exchange Commission, specifically the Proxy Statement concerning the Transaction (filed under cover of Form 6-K on August 16 2007) and most recent report on Form 20F that identifies important risks which could cause actual results to differ from those contained in the forward looking statements. Healthcare Technologies Ltd. Eran Rotem CFO +972-3-9277232/3 DATASOURCE: Healthcare Technologies Ltd CONTACT: Healthcare Technologies Ltd., Eran Rotem CFO, +972-3-9277232/3

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