Medipattern Reports Highlights and Results for Q3 2012

The Medipattern Corporation (TSX VENTURE:MKI) ("Medipattern" or the "Company")
is pleased to report third quarter highlights and results from the Company's
2012 financial year, to March 31, 2012.




HIGHLIGHTS FOR THE QUARTER:

--  Installed Visualize:Vascular(TM) in 23 facilities which have a combined
    total of 154 sites; 

--  Established that average reimbursement across market segment (surgeons,
    radiologists, cardiologists and primary care physicians) is consistent
    with CMS (Medicare) fee schedule for all major payers; 

--  Increased scanning volumes month over month (January (17), February (83)
    and March (248)); 

--  Expanded sales into mobile diagnostic providers with multiple customers;

--  Continued Visualize:Vascular roll out expanding to the Southeastern
    United States; 

--  Reinforced clinical performance with case study showing that
    Visualize:Vascular correctly identified patients with severe Stenosis
    that Doppler ultrasound technology did not find. Visualize:Vascular
    correlated to magnetic resonance angiography (MRA) and surgical
    findings; 

--  Subsequent to the end of the quarter, Medipattern announced that it had
    signed a binding letter agreement with MYTRAK(R) Health System Inc.
    ("MYTRAK") to combine their technologies and launch a new personalized
    mobile health business called MyTrak Personal Health Solutions, focusing
    on monitoring physical activity for the management of Metabolic Syndrome
    by leveraging MYTRAK's proven wearable mobile technology platform to
    complement its core proprietary cardiovascular visualization and image
    analysis business. 



"Key milestones were met in the vascular product line during the third quarter.
Daily clinical use in the diagnostic imaging market of Visualize:Vascular is
confirming that the product is medically beneficial, easy to use and cost
effective in practice. We are extremely pleased with the growing acceptance of
the product and the continued ramp up in installations and scanning volumes,"
stated Jeff Collins, CEO of Medipattern. "Our increased exposure to the vascular
market and cardiologists has created new opportunities for Medipattern, like the
recently announced MyTrak Personal Health Solutions product, which addresses
external patient monitoring requirements that are not being adequately addressed
in the market. We expect that the new product we are developing utilizing MyTrak
Health Solutions proprietary technology will be readily accepted and fill a
significant void in the patient wellness space, as well as create a significant
new revenue stream for Medipattern. The potential for the Company's product
offering in both the diagnostic imaging market and the patient wellness market
is very strong and the Company is positioned well in both markets."




Financial Summary for Q3 Fiscal 2012:

--  Revenue totaled $11,734 (Q3 2011 - $57,929) for the fiscal quarter ended
    March 31, 2012, an overall decrease of 79.7%, while nine month fiscal
    revenues declined to $25,715, a 77.3% drop from last years' nine month
    total of $113,102. Subscription rental fees for both
    Visualize:Vascular(TM) and B-CAD-FOR-LIFE(TM) accounted for all Q3 2012
    quarterly revenue (Q3 2011 - $6,647) as the Company continued to focus
    its core R&D resources and marketing expertise on meeting its deadlines
    for completion of final development and commercialization of its new
    vascular software Visualize:Vascular(TM) which was rolled out on a
    limited basis in June 2011. Consequently, in Q3 2012, the Company
    generated no licensing revenue or professional fees (Q3 2011 - $23,105
    in licensing fees and $28,177 in professional fees). For the nine month
    period ended March 31, 2012 subscription rental fees of $25,715 also
    accounted for all revenue (2011 - $36,334) while $48,591 of licensing
    fees and $48,591 of ancillary professional fees were earned in the
    similar nine month period of fiscal 2011. 

--  Non-interest operating expenses in Q3 2012 totaled $600,330 versus
    $516,794 in Q3 2011, an overall increase of 16.1%. For the nine months
    ended March 31, 2012 operating expenses totaled $1,870,797 compared to
    $1,630,785, a 14.7% increase. Despite modest increases in R&D expenses
    associated with the final development of Visualize:Vascular(TM), and
    higher professional fees incurred with securing the Company's patents
    and conversion to IFRS, the Company remains committed to controlling all
    discretionary spending until operating cash flow improves in response to
    its ongoing commercialization of its award winning software products. 

--  Total interest expense (including accreted interest on Convertible Debt)
    for Q3 2012 increased 154.9% to $186,970 (Q3 2011 - $73,351) as a result
    of a late Q3 fiscal 2011 Convertible Debt financing with its associated
    accredit interest, and the end of the Notes interest-free period at
    December 31, 2011. For the nine months ended March 31, 2012 interest
    expenses amounted to $428,608, compared to $185,778 for fiscal 2011, a
    130.8% increase. 

--  In Q3 2012 the Company also recorded a fair value, non-cash gain on
    embedded conversion options in its 2010 Convertible Notes of $42,705 (Q3
    2011 - $2,524,126 loss) with a similar gain for the nine month period of
    $1,400,499 in 2012 versus a loss of $2,443,700 in fiscal 2011. These
    fiscal 2012 gains represent a reversal of losses recorded by the Company
    in previous fiscal periods as a result of its conversion to IFRS and are
    highly sensitive to the Company's share price. 

--  Resulting net loss for Q3 2012 was $742,953 ($0.01 per share basic and
    diluted) versus a loss of $3,055,069 ($0.05 per share basic and diluted)
    for Q3 2011. For the nine months ended March 31, 2012 the Company
    reported a net loss of $870,656 ($0.02 per share basic and diluted)
    versus a loss of $4,148,152 ($0.07 per share basic and diluted) for the
    similar nine month period of fiscal 2011. 

--  As at March 31, 2012, cash and cash equivalents totaled $230,654 (June
    30, 2011 - $201,703), current assets, including highly liquid short-term
    investments of $750,752 (June 30, 2011 - $2,567,619), were $1,490,128
    (June 30, 2011 - $3,313,658) and current liabilities were $401,467 (June
    30, 2011 - $352,104). Working capital at March 31, 2012 totaled
    $1,088,661 (June 30, 2011 - $2,961,554). At May 29, 2012, the Company
    estimates working capital at $625,000. 

Results of Operations (note 1):

THE MEDIPATTERN CORPORATION
UNAUDITED STATEMENT OF OPERATIONS and COMPREHENSIVE INCOME (LOSS)
FOR THE THREE and NINE MONTHS ENDED MARCH 31, 2012 AND 2011

---------------------------------------------------------------------------
                     Three Months  Three Months   Nine Months   Nine Months
                            Ended         Ended         Ended         Ended
                         March 31,     March 31,     March 31,     March 31,
                             2012          2011          2012          2011
                     ------------------------------------------------------
                       (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited)
Revenues                                                                   
  Licensing fees     $          -  $     23,105  $          -  $     48,591
  Professional fees             -        28,177             -        28,177
  Subscription                                                             
   rental fees             11,734         6,647        25,715        36,334
                     ------------------------------------------------------
                           11,734        57,929        25,715       113,102
                     ------------------------------------------------------
                                                                           
Expenses                                                                   
  Research and                                                             
   development            283,575       231,263       788,503       695,046
  Administration and                                                       
   product support        205,367       179,381       745,074       606,664
  Sales and                                                                
   marketing              102,035        97,633       310,280       303,525
  Interest on                                                              
   convertible debt       112,440        47,565       212,325       131,842
  Accretion of                                                             
   interest on                                                             
   convertible debt        74,530        25,787       216,282        53,937
  Loss (gain) on                                                           
   convertible debt                                                        
   conversion option                                                       
   (1)                    (42,705)    2,524,126    (1,400,499)    2,443,700
  Foreign exchange                                                         
   loss                    12,981         1,684        15,479         8,957
  Investment income        (2,889)       (2,957)      (18,013)       (7,965)
  Depreciation of                                                          
   property and                                                            
   equipment                9,353         8,516        26,940        25,548
                     ------------------------------------------------------
                                                                           
                          754,687     3,112,997       896,371     4,261,255
                     ------------------------------------------------------
                                                                           
Net Loss and Total                                                         
 Comprehensive Loss  $   (742,953) $ (3,055,068) $   (870,656) $ (4,148,152)
                     ------------------------------------------------------
                                                                           
Loss Per Share -                                                           
 Basic and Diluted   $      (0.01) $      (0.05) $      (0.02) $      (0.07)
                     ------------------------------------------------------
                                                                           
Weighted Average                                                           
 Number of Common                                                          
 Shares Outstanding    57,404,579    57,181,233    57,404,579    57,181,233
                     ------------------------------------------------------

(1)  The non-cash gain on the convertible debt conversion option represents
     the reversal of significant prior fiscal period losses booked in      
     conjunction with the Company's conversion to IFRS and as outlined in  
     further detail in note 5 to the accompanying condensed unaudited      
     interim financial statements.                                         



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




Upcoming Events

Annual Meeting - MHA          June 6 - 7, 2012 Brewster, MA                
SVU/SVS Annual Conference     June 7 - 9, 2012 Baltimore, MD               



About the Medipattern Corporation:

Medipattern(R) is a pioneer in the development of imaging software solutions
that help medical practitioners to better understand lesions and critical
anatomy. Medipattern uses its Cadenza(TM) technology to process images, finding
the salient region of interest and presenting them in 2D and 3D formats that
enhance the reader's perception. For more information, please visit the
Company's website: www.medipattern.com.


Medipattern(R) and B-CAD(R) are registered marks of The Medipattern Corporation.
Visualize:Vascular(TM) is a trademark 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.