PRESS RELEASE                                                       Exhibit 99.1

                     Worldwide Medical Corporation Announces
       Filing in United States Bankruptcy Court, the District of Delaware,
                         for Protection Under Chapter 11

         LAKE FOREST,  Calif--(BUSINESS  WIRE)--Feb.  7, 2003--Worldwide Medical
Corporation (OTCBB: WMED), www.wwmed.com,  whose products include First Check(R)
at Home Drug Tests,  announced  this afternoon that it has today filed a Chapter
11  petition  with the  United  States  Bankruptcy  Court  for the  District  of
Delaware.

         The  company  cites a severe  liquidity  crisis  and the  absence of an
available  source of funding its ongoing  operations as the principal reason for
the need to file at this time. WMED has retained the law firm of Cozen O'Connor,
Chase Manhattan Center, 1201 North Market Street, Suite 1400, Wilmington,  Del.,
19801 to represent the company in the proceedings.

         WMED  expects  to  file a  motion  on  Monday  to  approve  a  sale  of
substantially  all of its assets,  subject to Court approval after notice to all
interested  parties.  During the expected 2-3 month sale  process,  WMED will be
actively  soliciting   competing  offers  for  WMED's  assets.  The  company  is
negotiating an arrangement for debtor-in-possession financing.

         G. Wendell  Birkhofer,  WMED's interim CEO, stated:  "It is unfortunate
that the company could not find a solution for its liquidity problems outside of
a  bankruptcy  proceeding,  but we  believe  the  sale  process  poses  the best
opportunity under the circumstances to maximize the enterprise value of WMED for
the benefit of creditors and parties with an interest in WMED."

         WMED is in the process of notifying its creditors and  shareholders  of
the action it has taken.  All interested  parties and  regulatory  agencies will
also be promptly informed of the action.

         This news release contains certain  forward-looking  statements  within
the meaning of the Private  Securities  Litigation  Reform Act of 1995 regarding
future  results  of  operations  and  market  opportunities  that  are  based on
Worldwide  Medical  Corp.'s  current  expectations,  assumptions,  estimates and
projections  about the company and its industry.  Investors  are cautioned  that
actual  results  could  differ   materially   from  those   anticipated  by  the
forward-looking  statements as a result of risks, competition and other factors.
These factors,  along with other potential risks and uncertainties are discussed
in  Worldwide  Medical  Corp.'s  reports  and  other  documents  filed  with the
Securities  and  Exchange   Commission.   Worldwide  Medical  Corp.  assumes  no
obligation  to update the  forward-looking  information  contained  in this news
release and encourages all potential investors to do their own due diligence and
suitability analysis before any investment is made.

CONTACT: Worldwide Medical Corporation, Lake Forest
      G. Wendell Birkhofer or Kevin Gadawski, (949) 598-8378, Fax (949) 598-8757
      or
      Cozen O'Connor, (302) 295-2000, Fax (302) 295-2013