<PAGE>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                            ------------------------

                                   FORM 10-Q

(MARK ONE)

<TABLE>
<C>        <S>
   /X/     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
           SECURITIES EXCHANGE ACT OF 1934
</TABLE>

                 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2000
                                       OR

<TABLE>
<C>        <S>
   / /     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
           SECURITIES EXCHANGE ACT OF 1934
</TABLE>

        FOR THE TRANSITION PERIOD FROM ______________ TO ______________

                        COMMISSION FILE NUMBER: 1-13861

                            ------------------------

                          MED-EMERG INTERNATIONAL INC.

             (Exact Name of Registrant as Specified in Its Charter)

<TABLE>
<S>                                            <C>
      PROVINCE OF ONTARIO, CANADA
    (State or Other Jurisdiction of
    Incorporation or Organization)

     2550 ARGENTIA ROAD, SUITE 205
     MISSISSAUGA, ONTARIO, CANADA                            L5N 5R1
    (Address of Principal Executive
               Offices)                                     (Zip Code)
</TABLE>

       Registrant's telephone number, including area code: (905) 858-1368

                            ------------------------

    Indicate by check mark whether the registrant: (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes /X/  No / /

     As of May 15, 2000, 5,653,825 shares of the registrant's Common Stock were
                                  outstanding.

--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
<PAGE>
                          MED-EMERG INTERNATIONAL INC.

                           CONSOLIDATED BALANCE SHEET

        AS AT MARCH 31, 2000 (UNAUDITED) AND DECEMBER 31, 1999 (AUDITED)
                                    (IN US$)

<TABLE>
<CAPTION>
                                                               MARCH 31     DECEMBER 31
                                                                 2000           1999
                                                              -----------   ------------
<S>                                                           <C>           <C>
ASSETS
CURRENT ASSETS
  Cash and short term investments...........................  $   113,669   $   229,966
  Accounts receivable.......................................    2,732,461     2,453,700
  Prepaid expenses and other................................      349,389       281,385
                                                              -----------   -----------
                                                                3,195,519     2,965,051
                                                              -----------   -----------
Capital assets..............................................    2,174,684     2,329,847
Other assets................................................    3,714,559     4,005,768
Deferred income taxes.......................................      880,736       766,270
                                                              -----------   -----------
                                                              $ 9,965,498   $10,066,936
                                                              ===========   ===========

LIABILITIES
CURRENT LIABILITIES
  Bank Indebtedness (note 3)................................  $ 1,101,002   $ 1,401,096
  Accounts payable and accrued liabilities..................    2,337,334     1,917,153
  Restructuring reserve.....................................      251,825       356,889
  Current portion of long-term debt.........................      179,896       172,145
                                                              -----------   -----------
                                                                3,870,057     3,847,283
Long term debt..............................................      496,192       518,339
Deferred income taxes.......................................      467,083       470,384
                                                              -----------   -----------
Commitments (note 7)........................................    4,833,332     4,836,005
                                                              -----------   -----------
Shareholders' Equity
  Capital Stock.............................................    8,648,495     8,251,290
  Convertible Debenture.....................................      405,371       405,371
  Contributed surplus.......................................    1,022,100     1,022,100
  Deficit...................................................   (4,794,733)   (4,335,566)
  Cumulative translation adjustment.........................     (149,067)     (112,264)
                                                              -----------   -----------
                                                                5,132,166     5,230,931
                                                              -----------   -----------
                                                              $ 9,965,498   $10,066,936
                                                              ===========   ===========
</TABLE>

   The accompanying notes are an integral part of these interim consolidated
                             financial statements.
<PAGE>
                          MED-EMERG INTERNATIONAL INC.

                CONSOLIDATED STATEMENT OF OPERATIONS AND DEFICIT

             THREE MONTHS ENDED MARCH 31, 2000 AND 1999 (UNAUDITED)
                                    (IN US$)

<TABLE>
<CAPTION>
                                                               MARCH 31      MARCH 31
                                                                 2000          1999
                                                              -----------   -----------
<S>                                                           <C>           <C>
REVENUE.....................................................  $ 3,799,593   $ 2,797,820
PHYSICIAN FEES AND OTHER DIRECT COSTS.......................    2,274,554     2,034,293
                                                              -----------   -----------
                                                                1,525,039       763,527
                                                              -----------   -----------
EXPENSES
  Salaries and benefits.....................................      705,371       343,687
  General and administration................................      159,735       106,789
  Occupancy costs and supplies..............................      432,362       140,544
  Public company costs......................................       21,692        78,462
  Physician recruitment and marketing.......................       47,943        38,214
                                                              -----------   -----------
                                                                1,367,103       707,696
                                                              -----------   -----------
INCOME BEFORE HEALTHYCONNECT.COM, DEPRECIATION, AMORTIZATION
  INTEREST, TAXES & FINANCING COSTS.........................      157,936        55,831
  HealthyConnect.com development costs......................      465,944       102,639
                                                              -----------   -----------
LOSS BEFORE DEPRECIATION, AMORTIZATION, INTEREST, TAXES &
  FINANCING COSTS...........................................     (308,008)      (46,808)
                                                              -----------   -----------
  Depreciation..............................................       95,850        63,222
  Interest and financing expense............................       49,604         1,763
  Goodwill amortization.....................................       91,166       --
                                                              -----------   -----------
                                                                  236,620        64,985
                                                              -----------   -----------
LOSS BEFORE INCOME TAXES....................................     (544,628)     (111,794)
  Income taxes (recovery)...................................     (119,819)      (49,190)
                                                              -----------   -----------
NET LOSS BEFORE PREFERRED SHARE DIVIDENDS...................     (424,809)      (62,604)
  Preferred share dividends.................................      (34,358)      (33,685)
                                                              -----------   -----------
NET LOSS....................................................     (459,167)      (96,289)
Deficit, beginning of the period............................   (4,335,566)   (7,130,277)
                                                                  --            --
                                                              -----------   -----------
DEFICIT, END OF THE PERIOD..................................  $(4,794,733)  $(7,226,566)
                                                              ===========   ===========
BASIC AND FULLY DILUTED LOSS, PER SHARE.....................  $     (0.09)  $     (0.03)
                                                              ===========   ===========
WEIGHTED AVERAGE NUMBER OF COMMON SHARES....................    5,243,825     2,975,853
                                                              ===========   ===========
</TABLE>

   The accompanying notes are an integral part of these interim consolidated
                             financial statements.
<PAGE>
                          MED-EMERG INTERNATIONAL INC.

                      CONSOLIDATED STATEMENT OF CASH FLOWS

                   AS AT MARCH 31, 2000 AND 1999 (UNAUDITED)

                                    (IN US$)

<TABLE>
<CAPTION>
                                                              MARCH 31     MARCH 31
                                                                2000         1999
                                                              ---------   ----------
<S>                                                           <C>         <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net loss for the period...................................  $(424,809)  $  (62,604)
  Adjustments for:
    Amortization of capital assets..........................     95,850       63,222
    Goodwill amortization...................................     91,166       --
    Deferred income taxes...................................   (117,767)     (49,190)
    Stock compensation......................................     40,133       --
                                                              ---------   ----------
                                                               (315,427)     (48,572)
  Decrease in non-cash working capital components...........    (69,231)    (126,377)
                                                              ---------   ----------
                                                               (384,658)    (174,949)
                                                              ---------   ----------
CASH FLOWS FROM INVESTING ACTIVITIES
  Additions to capital assets...............................     42,942     (381,113)
  Business acquisitions (note 4)............................     --         (128,685)
  Other assets..............................................    200,043       79,558
                                                              ---------   ----------
                                                                242,985     (430,240)
                                                              ---------   ----------
CASH FLOWS FROM FINANCING ACTIVITIES
  Bank indebtedness.........................................   (300,094)      --
  Issuance of common shares.................................    357,072       --
  Repurchase of shares......................................          0       (1,542)
  Term loans advanced.......................................     58,573      250,528
  Obligation under capital lease............................     --          (13,717)
  Repayment of debt.........................................    (72,969)      --
  Dividends paid on preference shares.......................     --          (33,685)
                                                              ---------   ----------
                                                                 42,582      201,584
                                                              ---------   ----------
Effect of foreign currency exchange rate changes............    (17,205)    (123,243)

DECREASE IN CASH AND SHORT-TERM INVESTMENTS.................   (116,296)    (526,848)
Cash and short-term investments, beginning of period........    229,965    1,090,582
                                                              ---------   ----------
Cash and short-term investments, end of period..............  $ 113,669   $  563,734
                                                              =========   ==========
</TABLE>

   The accompanying notes are an integral part of these interim consolidated
                             financial statements.
<PAGE>
                          MED-EMERG INTERNATIONAL INC.

              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

                   THREE MONTHS ENDED MARCH 31, 2000 AND 1999

1.  ORGANIZATION AND DESCRIPTION OF BUSINESS

    Med-Emerg International Inc. is a publicly traded company listed on the
    NASDAQ Exchange. The Company completed its initial public offering in
    February, 1998.

    Med-Emerg International Inc. is a physician management services organization
    specializing in the delivery of emergency and primary healthcare related
    services. The Company is committed through information technology and its
    physician management services to delivering an internet-based healthcare
    network with the objective of delivering quality and timely access to
    healthcare products and services. The Company has decided to continue to
    focus on the development of its internet based technology of
    HealthyConnect.com. Therefore, the Company has an on-going requirement to
    raise capital to finance the on-going technology developments of
    HealthyConnect.com.

    The Company's operations are divided into three divisions, Physician and
    Nurse Recruitment, Physician Management Services and HealthyConnect.com.

    On a contractual basis, the Company provides emergency department physician
    and nurse recruitment, staffing and administrative support services to
    hospitals. At March 31, 2000, the Company had 14 contracts for physician
    staffing and 6 contracts for nurse staffing.

    Under physician management services, the Company owns and manages medical
    clinic facilities providing physicians with the ability to practice within a
    professional managed network enabling the physician to concentrate on the
    clinical aspects of their practices. All the clinic assets including medical
    equipment are owned by the company. At March 31, 2000, the Company owned and
    managed 28 clinics.

    HealthyConnect.com is an internet-based health portal that will connect
    physicians, patients, third party payors and consumers to a "virtual world"
    of healthcare products and services. The Company is electronically
    connecting its clinical facilities and establishing strategic partnerships
    in delivering a comprehensive healthcare program.

2.  BASIS OF PRESENTATION

    The accompanying unaudited consolidated financial statements have been
    prepared in accordance with Canadian generally accepted accounting
    principles for interim financial reporting. These financial statements
    consolidate, with minority interest, the accounts of Med-Emerg
    International Inc. and all wholly- and partially-owned subsidiaries of
    Med-Emerg International Inc.

    In the opinion of management, the unaudited interim consolidated financial
    statements contained in this report reflect all adjustments, consisting of
    only normal recurring accruals, which are necessary for a fair presentation
    of the financial position, and the results of operations for the interim
    periods presented. The results of operations for any interim period are not
    necessarily indicative of the results for the full year.

    These consolidated financial statements, footnote disclosures and other
    information should be read in conjunction with the consolidated financial
    statements and the notes thereto included in the Company's Annual Report on
    Form 10-K for the year ended December 31, 1999.
<PAGE>
                          MED-EMERG INTERNATIONAL INC.

              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

                   THREE MONTHS ENDED MARCH 31, 2000 AND 1999

3.  BANK COVENANTS

    The Company is required to comply with its bank covenant ratios. At
    March 31, 2000 the Company was not in compliance with these covenants. The
    Company is in the process of raising capital as indicated in note 7 under
    commitments.

4.  ACQUISITIONS

    Effective November 5, 1999, the Company purchased all of the outstanding
    securities of YFMC Healthcare Inc. in exchange for similar securities of
    Med-Emerg International Inc. on the following basis:

     i. In the case of holders of YFMC Common Shares, one Med-Emerg Common Share
        was issued for every 6 7/8 shares of YFMC. This resulted in the issuance
        of 1,658,566 Med-Emerg Common Shares.

     ii. In the case of holders of YFMC Preferred Shares, one Med-Emerg Common
         Share was issued for every 10 YFMC First Preferred Shares, resulting in
         the issuance of 100,000 Med-Emerg Common Shares.

    iii. In the case of holders of YFMC Series A Warrants, one Med-Emerg
         Series A Warrant was issued for every 8 warrants of YFMC, resulting in
         the issuance of 44,585 Med-Emerg Series A Warrants.

     iv. In the case of holders of YFMC Series B Warrants, one Med-Emerg
         Series B Warrant was issued for every 8 warrants of YFMC, resulting in
         the issuance of 44,585 Med-Emerg Series B Warrants.

     v. In the case of holders of YFMC stock options, one Med-Emerg stock option
        for every 8 YFMC stock options.

    The Company has determined that there will be integration costs associated
    with the business combination with YFMC Healthcare Inc. The Company plans to
    dispose of duplicate functions and unprofitable operations as part of a
    formal plan of integration. At December 31, 1999 a liability of $356,889 has
    been established as the estimated cost of the integration plan. The Company
    expects to complete the plan by June 30, 2000.

    In addition, during the fiscal year 1999, the Company also acquired
    ownership interest in the following companies that operate medical clinics:
    45% of Medical Urgent Care Inc., 51% of Caremedics
<PAGE>
                          MED-EMERG INTERNATIONAL INC.

        NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                   THREE MONTHS ENDED MARCH 31, 2000 AND 1999

    (Elmvale) Inc. and 51% of York Lanes Health Centres Ltd. The following is a
    summary of the assets purchased and liabilities assumed:

<TABLE>
<CAPTION>
                                                             YFMC
                                                          HEALTHCARE       OTHER
                                                             INC.       ACQUISITIONS      TOTAL
                                                          -----------   ------------   -----------
    <S>                                                   <C>           <C>            <C>
    Current assets......................................  $   666,495    $  23,052     $   689,547
    Capital assets......................................    1,381,885      374,136       1,756,021
    Other long-term assets..............................      702,656           --         702,656
    Goodwill............................................    1,736,571      170,821       1,907,392
    Less liabilities assumed............................   (1,394,439)    (361,612)     (1,756,051)
    Less reverse for restructuring......................     (356,889)          --        (356,889)
    Less minority interest..............................           --      (28,221)        (28,221)
                                                          -----------    ---------     -----------
    Purchase price......................................    2,736,279      178,176       2,914,455
    Less: share consideration...........................   (2,232,906)          --      (2,232,906)
    Less: stock options and warrants....................      (41,775)          --         (41,775)
                                                          -----------    ---------     -----------
    Cash consideration..................................  $   461,598    $ 178,176     $   639,774
                                                          ===========    =========     ===========
</TABLE>
<PAGE>
                          MED-EMERG INTERNATIONAL INC.

              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

                   THREE MONTHS ENDED MARCH 31, 2000 AND 1999

5.  CANADIAN AND UNITED STATES ACCOUNTING POLICY DIFFERENCES

    These consolidated financial statements have been prepared in accordance
    with Canadian generally accepted accounting principles ("Canadian GAAP"),
    which conform in all material respects applicable to the Company, with those
    in the United States ("U.S. GAAP") during the periods presented except with
    respect to the following:

    Consolidated statements of operations

    If United States GAAP were employed, net loss for the period would be
    adjusted as follows:

<TABLE>
<CAPTION>
                                                                    MARCH      MARCH
                                                                    2000        1999
                                                                  ---------   --------
    <S>                                                           <C>         <C>
    Net income (loss) based on Canadian GAAP....................  $(424,808)  $(62,605)
    Start-up costs amortized/(deferred).........................     11,055     11,055
    Deferred acquisition costs..................................    (15,641)   (40,125)
                                                                  ---------   --------
    Net loss based on United States GAAP........................  $(429,394)  $(91,675)
                                                                  ---------   --------
    Primary loss per share......................................  $   (0.08)  $  (0.03)
                                                                  =========   ========
</TABLE>

    If United States GAAP were employed, deficit, other assets, prepaid and
    other assets, and total liabilities would be adjusted as follows:

<TABLE>
<CAPTION>
                                                                     MARCH       DECEMBER
                                                                     2000          1999
                                                                  -----------   -----------
    <S>                                                           <C>           <C>
    Deficit based on Canadian GAAP..............................  $(4,794,733)  $(4,335,566)
    Start-up costs deferred.....................................     (241,754)     (255,040)
    Goodwill amortization.......................................      (91,166)       (8,925)
                                                                  -----------   -----------
                                                                  $(4,945,321)  $(4,599,531)
                                                                  ===========   ===========
    Other assets based on Canadian GAAP.........................  $ 3,714,559   $ 4,005,768
    Start-up costs deferred.....................................     (241,754)     (255,040)
    Goodwill on purchase of YFMC Healthcare Inc.................    1,094,907     1,087,872
                                                                  -----------   -----------
                                                                  $ 4,567,412   $ 4,838,600
                                                                  ===========   ===========
</TABLE>
<PAGE>
                          MED-EMERG INTERNATIONAL INC.

              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

                   THREE MONTHS ENDED MARCH 31, 2000 AND 1999

5.  CANADIAN AND UNITED STATES ACCOUNTING POLICY DIFFERENCES (con't)

<TABLE>
    <S>                                                           <C>          <C>
    Total liabilities based on Canadian GAAP....................  $4,833,332   $4,836,005
    Convertible debenture.......................................     405,371      405,371
                                                                  ----------   ----------
                                                                  $5,238,703   $5,241,376
                                                                  ==========   ==========
</TABLE>

    (a) Deferred Income Taxes

       Under U.S. GAAP, the Company is required to follow Statement of Financial
       Accounting Standards (SFAS No. 109) "Accounting for Income Taxes", which
       requires the use of the "asset and liability method" of accounting for
       deferred income taxes, which gives recognition to deferred taxes on all
       "temporary differences" (differences between accounting basis and tax
       basis of the Company's assets and liabilities, such as the non-deductible
       values attributed to assets in a business combination) using current
       enacted tax rates. In addition, SFAS No. 109 requires the Company to
       record all deferred tax assets, including future tax benefits of capital
       losses carried forward, and to record a "valuation allowance" for any
       deferred tax assets where it is more likely than not that the asset will
       not be realized. The Company has followed this method under Canadian
       GAAP.

    (b) Deferred Start-up Costs

       Under Canadian GAAP, development and start-up costs, which meet certain
       criteria, are deferred and amortized. Under United States GAAP,
       development and start-up costs are expensed as incurred.

    (c) Convertible Debenture

       Under U.S. GAAP, convertible debentures are presented as liabilities,
       regardless of the attributes of the convertible debenture, and
       transferred to equity upon conversion, whereas, under Canadian GAAP, the
       likelihood of conversion to equity is considered in determining the
       classification between liability or equity.

    (d) Earnings Per Share

       U.S. GAAP requires common shares and warrants to purchase common shares,
       issued or exercisable at prices below the initial public offering
       ("I.P.O.") price and which were issued within one year prior to the
       initial filing of the registration statement relating to the I.P.O., to
       be treated as if the common shares were outstanding from the beginning of
       the period in the calculation of weighted average number of common shares
       outstanding and loss per share, even where such inclusion is
       anti-dilutive. Primary earnings per common share is determined using the
       weighted average number of shares outstanding during the year, adjusted
       to reflect the application of the treasury stock method for outstanding
       options and warrants in accordance with U.S. GAAP.
<PAGE>
                          MED-EMERG INTERNATIONAL INC.

              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

                   THREE MONTHS ENDED MARCH 31, 2000 AND 1999

5.  CANADIAN AND UNITED STATES ACCOUNTING POLICY DIFFERENCES (cont'd)

    (e) Stock Compensation

       Statement of Financial Accounting Standards No. 123, "Accounting for
       Stock-Based Compensation" (SFAS 123), was issued by the Financial
       Accounting Standards Board in October 1995. SFAS 123 establishes
       financial accounting and reporting standards for transactions in which an
       entity issues its equity instruments to acquire goods or services from
       non-employees, as well as stock-based employee compensation plans. All
       transactions in which goods or services are the consideration received
       for the issuance of equity instruments are to be accounted for based on
       the fair value of the consideration received or the fair value of the
       equity instrument issued, whichever is more reliably measurable.

       For those transactions described in note 9 of the audited consolidated
       financial statements for Med-Emerg International Inc. for the year ended
       December 31, 1999 and under SFAS 123:

       - the issuance of 125,000 common shares to promissory note holders
         resulted in a charge to income (finance expense) over the term of the
         related promissory note payable, at $2.05 per share equal to $256,250
         of which $196,943 has been charged to earnings in the year ended
         December 31, 1997 and $50,470 has been charged to earnings in the
         period ended December 31, 1998.

       - the issuance of 50,000 shares to a director for services rendered
         resulted in a charge to income at $2.05 per share equal to $100,400 in
         the year ended December 31, 1997.

       - the issuance of an option on November 1, 1996 to a director to acquire
         700,000 shares (note 13) has resulted in a charge to income equal to
         $934,033 in 1996 based on $2.05 per share, and the "minimum value"
         method of calculation permitted under SFAS 123 for non-public entities.

       As allowed by SFAS 123, the Company has decided to continue to use
       Accounting Principles Board Opinion No. 25 "Accounting for Stock Issued
       to Employees" in accounting for the Company's Stock Option Plan (the
       "Plan") for U.S. GAAP purposes, pursuant to which there is no significant
       difference between U.S. and Canadian GAAP in the accounting for the
       granting of options under the Plan.

    (f) Goodwill

       Under U.S. GAAP, the purchase price of an acquisition involving the
       issuance of shares is determined based on the share price for the period
       surrounding the announcement date of the acquisition. The share price
       used for the YFMC Healthcare Inc. acquisition under U.S. GAAP was $1.859.
       Under Canadian GAAP, the purchase price is determined based on the share
       price on the date the transaction is consummated. The share price used
       for the YFMC Healthcare Inc. acquisition under Canadian GAAP was $1.25.
<PAGE>
                          MED-EMERG INTERNATIONAL INC.

              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

                   THREE MONTHS ENDED MARCH 31, 2000 AND 1999

5.  CANADIAN AND UNITED STATES ACCOUNTING POLICY DIFFERENCES (cont'd)

    (g) Shareholders' Equity

       Under U.S. GAAP, loans issued to officers to acquire stock are presented
       as a deduction from shareholders' equity (deficit).

       Under Canadian GAAP, the detachable stock purchase warrants issued as in
       conjunction with the private stock offering on January 22, 1996 and
       subsequently surrendered, all as described in note 13, have been given no
       recognition in the financial statements.

       Under U.S. GAAP, detachable stock purchase warrants are given separate
       recognition from the primary security issued. Upon initial recognition,
       the carrying amount of the two securities is allocated based on the
       relative fair values at the date of issuance. Under U.S. GAAP, based on
       an ascribed fair value of $0.364 for each of the 1,000,000 share warrants
       issued, share capital would be lower by $36,406 and, given that the stock
       purchase warrants were cancelled during the year, the carrying amount of
       contributed surplus would be increased by $36,406.

       The effect on shareholders' equity would be as follows:

<TABLE>
<CAPTION>
                                                                     MARCH       DECEMBER
                                                                     2000          1999
                                                                  -----------   -----------
    <S>                                                           <C>           <C>
    Capital stock (as previously shown).........................  $ 8,648,495   $ 8,251,290
    Capital stock issued on purchase of YFMC Healthcare Inc.....    1,087,872     1,087,872
    Ascribed fair value of share purchase warrants issued.......      (36,406)      (36,406)
                                                                  -----------   -----------
    Capital stock -- U.S. GAAP..................................    9,699,961     9,302,756
    Share purchase loan to officer..............................      (44,978)      (44,978)
                                                                  -----------   -----------
    Net capital stock -- U.S. GAAP..............................    9,654,983     9,257,778
    Convertible debenture (as previously shown).................      405,371       405,371
    Convertible debenture included in long-term debt............     (405,371)     (405,371)
                                                                  -----------   -----------
    Convertible debenture -- U.S. GAAP..........................           --            --
    Contributed surplus (as previously shown)...................    1,022,100     1,022,100
    Share purchase warrants.....................................       36,406        36,406
                                                                  -----------   -----------
    Contributed surplus -- U.S. GAAP............................    1,058,506     1,058,506
                                                                  -----------   -----------
    Deficit -- U.S. GAAP........................................   (4,945,321)   (4,599,531)
                                                                  -----------   -----------
    Shareholders' equity (deficit) -- U.S. GAAP.................  $ 5,768,168   $ 5,716,753
                                                                  ===========   ===========
</TABLE>
<PAGE>
                          MED-EMERG INTERNATIONAL INC.

              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

                   THREE MONTHS ENDED MARCH 31, 2000 AND 1999

5.  CANADIAN AND UNITED STATES ACCOUNTING POLICY DIFFERENCES (cont'd)

    (h) Comprehensive Income

       Statement of Financial Accounting Standards No. 130, "Reporting
       Comprehensive Income" (SFAS 130), was issued by the Financial Accounting
       Standards Board in June 1997. SFAS 123 establishes standards for
       reporting and display of comprehensive income and its components in the
       financial statements. SFAS 130 is effective for fiscal years beginning
       after December 15, 1997. Reclassification of financial statements for
       earlier period provided for comparative purposes is required.

6.  SEGMENTED INFORMATION

    The Company operates under three divisions: Physician and Nurse Recruitment,
    Physician Management Services and Integrated Health Services Delivery
    Network (IHSDN).

    The Physician and Nurse Recruitment involves contracting with hospitals for
    the provision of physician staffing, nurse staffing and administrative
    support services. The Company also contracts with clinical facilities and
    local communities for the locum or permanent placement of a physician in a
    community.

    The Physician Management Services division owns and manages medical clinic
    facilities, which provide physicians with the ability to practice medicine
    in a professionally managed environment. The clinics include family
    practice, walk-in services, and other related services such as massage
    therapy and chiropractic services.

    The IHSDN division involves electronically linking clinic facilities and
    other healthcare service providers into a network. This internet-based
    network will provide healthcare professionals and consumers access to
    medical services, products, communications and information tools.
<PAGE>
                          MED-EMERG INTERNATIONAL INC.

              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

                   THREE MONTHS ENDED MARCH 31, 2000 AND 1999

6.  SEGMENTED INFORMATION (cont'd)

    Details are as follows:

<TABLE>
<CAPTION>
                                                                    MARCH 31, 2000
                                                   -------------------------------------------------
                                                   PHYSICIAN    PHYSICIAN
                                                    & NURSE     MANAGEMENT
                                                   RECRUITING    SERVICES     IHSDN     CONSOLIDATED
                                                   ----------   ----------   --------   ------------
    <S>                                            <C>          <C>          <C>        <C>
    Revenue......................................  1,880,177    1,919,416          --     3,799,593
    Gross margin.................................    304,087    1,220,952          --     1,525,039
    Operating income before Corporate Overhead &
      Public Company-related costs...............    206,013      205,666    (465,944)      (54,265)
    Corporate Overhead...........................                                          (232,051)
    Public Company-related costs.................                                           (21,692)
                                                                                          ---------
    Operating loss...............................                                          (308,008)
    Assets employed at end of period.............  3,975,896    5,989,602          --     9,965,498
    Depreciation and amortization................     25,459       70,391          --        95,850
    Capital expenditures.........................     23,315       19,619          --        42,934
</TABLE>

<TABLE>
<CAPTION>
                                                                    MARCH 31, 1999
                                                   -------------------------------------------------
                                                   PHYSICIAN    PHYSICIAN
                                                    & NURSE     MANAGEMENT
                                                   RECRUITING    SERVICES     IHSDN     CONSOLIDATED
                                                   ----------   ----------   --------   ------------
    <S>                                            <C>          <C>          <C>        <C>
    Revenue......................................  1,770,219    1,027,601          --     2,797,820
    Gross margin.................................    301,197      462,330          --       763,527
    Operating income before Corporate Overhead &
      Public Company-related costs...............    218,433      119,973    (102,639)      235,767
    Corporate Overhead...........................                                          (204,113)
    Public Company-related costs.................                                           (78,462)
                                                                                          ---------
    Operating loss...............................                                           (46,808)
    Assets employed at end of period.............  3,677,575    2,028,676     140,131     5,846,382
    Depreciation and amortization................     23,818       39,404          --        63,222
    Capital expenditures.........................     11,813      369,300          --       381,113
</TABLE>

<PAGE>
                          MED-EMERG INTERNATIONAL INC.

        NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                   THREE MONTHS ENDED MARCH 31, 2000 AND 1999

7.  COMMITMENTS

    On March 1, 2000, the Company issued a private placement memorandum for
    equity financing. The Company currently is in the process of raising gross
    proceeds of US$1,700,000 for the issuance of 935,000 common shares. To date
    the Company has raised gross proceeds of US$600,000.

    The Company is in the process of negotiating an agency agreement to raise
    funds for its development initiatives in HealthyConnect.com.
<PAGE>
ITEM 2: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS

OVERVIEW

Med-Emerg International Inc. ("Med-Emerg" or the "Company"), based in Ontario,
Canada, is a provider of a broad range of quality healthcare management
services. Established in 1983, the Company specializes in the coordination and
contract staffing of emergency physicians for hospitals and clinics in Canada.
Though emergency-related services are still an important component of the
Company's business, Med-Emerg has expanded to offer a wide variety of medical
services including recruitment, nurse staffing, physician management services
and an internet-based healthcare network.

Med-Emerg is positioned to establish industry leadership by providing integrated
professional management services in the delivery of healthcare to the healthcare
consumer. The Company's operations are divided into three divisions: Physician
and Nurse Recruitment Services, Physician Management Services and an internet
based healthcare network called HealthyConnect.com. Med-Emerg's strategy is to
remain focussed on these three divisions while continuing to broaden its
consolidation of physicians over a wider geographic base. Med-Emerg believes
that it is well positioned to benefit from the aging of the baby boomer
population, to capitalize on recent developments within the North American
healthcare environment and to integrate opportunities available through internet
technology. Specifically, the Company's strategy is to leverage its 15 years of
physician recruitment experience in becoming a dominant player in Physician
Management Services and to develop an internet-based healthcare network that
connects physicians, patients, third party payors and consumers to a "virtual
world" of healthcare products, services and health information.

The Company continues to promote its medical manpower staffing services
throughout Canada. Demand for emergency care has grown significantly over the
past ten years, notwithstanding the small proportion of physicians focusing on
emergency medicine. Moreover, recruitment of experienced emergency medicine
practitioners by hospitals in other countries is intense and such demand is
expected to continue for some time. Given the uncertainties associated with
patient volumes in several Ontario hospital emergency departments, the pool of
available physicians willing to practice emergency medicine has been declining.

The Company's ability to provide solutions and source physicians and highly
skilled nurses will be enhanced by its success in developing its dominant status
in the Physician Management Services Organization (PMSO) sector. The Company's
business strategy is to integrate and through its physicians program offer the
family physician a comprehensive practice opportunity. Management believes that
the creation of a dominant PMSO status will significantly contribute to the
Company's efforts in growing its emergency services recruitment division.

On March 22, 2000, the Company launched HealthyConnect.com, an internet-based
e-commerce health portal. HealthyConnect.com has been strategically designed to
provide an end to end solution for the information needs of the healthcare
sector. The Company will pursue both a business to business and business to
consumer e-commerce strategy connecting physicians, hospitals, third-party
payors and consumers and will allow all participants to access and exchange
healthcare related information, purchase healthcare products and services, and
communicate more cost-effectively with one another. HealthyConnect.com will
deliver healthcare services and products and provide timely access to reliable
healthcare information through the utilization of advanced telecommunication
technology.

Targeted purchasers of HealthyConnect.com on line applications are consumers,
healthcare institutions, physicians and other healthcare providers and
healthcare product suppliers. Consumers will benefit from 24-hour, 7-day a week
access, via the internet and telephone, to Med-Emerg's healthcare service
provider network. In addition, consumers will have multiple site secure access
to their own and their family members' electronic medical records, access to a
physician management health and wellness centre and convenient at-home shopping
for healthcare products and services.

On March 29, 2000, HealthyConnect.com, Inc. and DocISP.com (King of Prussia,
Pennsylvania), an internet service provider designed for physicians and allied
health professionals, entered into a joint venture agreement to combine their
<PAGE>
on-line product offering. DocISP.com provides free unrestriced internet acces,
web site hosting and support, e-mail, e-health commerce, customized medical
news, research, practice management systems and tools, continuing medical
education, and various other web-enabled capabilities currently under
development. HealthyConnect.com and DocISP.com will co-brand their products and
employ existing distribution and sales resources to establish products in the
market.

On May 3, 2000, HealthyConnnect.com, Inc. and Harmonie Group, Inc. (Boston,
Massachusetts) a leading provider of hospital based web enabled patient
information management software, entered into a Letter of Intent whereby
HealthyConnect.com, Inc. intends to acquire all of the outstanding shares of
Harmonie Group, Inc. through a share exchange. Harmonie Group, Inc. developed a
software called HARMONIE WEBKIT FOR HEALTH CARE, which delivers three essential
functions: authoring/editing system, advanced content management capabilities
and utilization of legacy data. The acquisition, which is subject to the
completion of due diligence and execution of a definitive agreement, is
scheduled to close on May 31, 2000.
<PAGE>
HealthyConnect.com will enable physicians and other healthcare providers to
access reliable information and provide them with additional support in
delivering cost effective, high quality healthcare services. Benefits include
24-hour coverage for patients, access to a comprehensive physician medical
reference database, online continuing medical education courses, tools for
chronic disease management, and participation in clinical trials and web
casting. HealthyConnect.com will link healthcare product and service suppliers
with our clinical network family. Convenient and secure access and at
home/office browsing and purchasing capabilities will facilitate direct sales
opportunities for member suppliers. Healthcare product and service suppliers
that may benefit from using HealthyConnect.com include pharmaceutical companies,
insurance companies, employers, government, managed care organizations,
physicians and hospitals.

HealthyConnect.com has assembled several key strategic partners that will
provide health information content, end to end transaction processing capability
and e-commerce goods and services to its customers. HealthyConnect.com has
negotiated, amongst others, a relationship with AstraTek, a software product
development firm, delivering advanced technologies to Fortune 1000 companies and
financial institutions and Data General, a leading supplier of servers and
storage systems, and services for information systems users worldwide. AstraTek
assisted in the development and launch of the HealthyConnect.com portal. Data
General will provide a consolidated computing infrastructure to support
HealthyConnect.com including hardware, software and network support.

Management of Med-Emerg sees HealthyConnect.com as a significant opportunity to
create a profitable business line while providing healthcare organizations with
new web-based technologies to increase practice efficiency, achieve measurable
cost savings and improve the quality of care.

On February 18, 2000, the Company announced the signing of a Business
Combination Agreement to purchase all of the issued and outstanding shares of
Laser Rejuvenation Clinics Ltd. ("LRC") on the basis of one Med-Emerg common
share and 1/3 of a warrant to purchase a Med-Emerg common share at a price of
US$3.00 per share for every 12.85 shares of LRC. The closing of the transaction
is subject to regulatory and shareholders approval. LRC is a publicly listed
company on the Canadian Venture Exchange that offers a full range of laser
cosmetic procedures in its clinic operations located in the provinces of
Ontario, Alberta and British Columbia.

On November 5, 1999, the shareholders of the Company approved the issuance of up
to 1,799,502 additional common shares in connection with the take over bid by
the Company for all the issued and outstanding securities of YFMC
Healthcare Inc. ("YFMC"), a Canadian physician management services organization
that owns and manages 22 medical clinics. Pursuant to the business combination
agreement, dated August 10, 1999, the Company mailed a take-over bid circular on
November 5, 1999 to all YFMC shareholders making an offer to purchase all the
issued and outstanding securities of YFMC on the following basis:

a.  In the case of holders of YFMC Common Shares, one Med-Emerg Common Share for
    every 6 7/8 shares of YFMC

b.  In the case of holders of YFMC Series A Warrants, one Med-Emerg Series A
    Warrant for every 8 warrants of YFMC

c.  In the case of holders of YFMC Series B Warrants, one Med-Emerg Series B
    Warrant for every 8 warrants of YFMC

d.  In the case of holders of YFMC Preferred Shares, one Med-Emerg Common Share,
    subject to certain conditions, one Med-Emerg Common Shares for every 10 YFMC
    First Preferred Shares.

The Company issued 1,758,556 Common Shares to complete the transaction. In
addition, Med-Emerg substituted for every eight options to acquire YFMC Common
Shares under the YFMC Stock Option Plan, the right to acquire one Med-Emerg
Common Share at an exercise price of $1.75.

In March 1999, the Company purchased 51% of the outstanding capital of
Caremedics (Elmvale) Inc. ("Elmvale"), a multi-physician primary healthcare
clinic located in Ottawa, Canada. The Company entered
<PAGE>
into a five-year management services agreement to manage the clinic for a
monthly fee based on revenues generated by the clinic.

In February 1999, the Company became party to a lease for the clinic located
within York University ("York Lanes") in Toronto, Canada. The Company has
entered into a five-year management services agreement to manage the clinic for
a monthly fee based on revenues generated by the clinic. The Company has a 51%
interest in the company that owns the clinic.

In January 1999, the Company acquired a 45% interest in an Urgent Care Centre,
Medical Urgent Care Inc. ("MUCI"). The Company developed and opened its first
Urgent Care Centre in September 1997. The Urgent Care Centre concept consists of
a group of emergency trained physicians, a medical laboratory, a diagnostic
radiology service, and a pharmacy, each of which must be present for the others
to co-exist, and each of which is provided by a separately owned company. The
Company manages the clinic component of the Urgent Care Centre and provides the
support staff for this component. Ownership of Medical Urgent Care Inc. is
shared with the group of emergency trained physicians that provides the medical
service in the clinic component.

RESULTS OF OPERATIONS

First Quarter Ended March 31, 2000 compared to First Quarter Ended March 31,
1999

REVENUES.  Revenues increased by $1,001,773 or 35.8% from $2,797,820 in the
first quarter of 1999 to $3,799,593 in the first quarter of 2000. The revenue
growth is attributable to the clinic acquisitions and growth in nurse staffing.

Revenues generated by Physician Management Services increased by $891,815 or
86.8% from $1,027,601 in the first quarter of 1999 to $1,919,416 during the
first quarter of 2000. The acquisition of YFMC Healthcare Inc. acquired in the
last quarter of 1999 contributed $842,227 to revenue.

Revenues from Physician and Nurse Recruiting increased by $109,958 or 6.2% to
$1,880,177 during the first quarter of 2000 from $1,770,719 during same period
for 1999. The increase in revenue is attributed to the nurse staffing component
which contributed an additional $39,380 to revenue in the first quarter of 2000
as compared to the same period last year. This increase came from a significant
increase in the provision of services to one hospital under an existing contract
plus the net addition of two contracts.

PHYSICIAN FEES AND OTHER DIRECT COSTS.  Physician fees and direct costs, which
primarily represents fees to contract physicians, increased $240,261 or 11.8%
from $2,034,293 in the first quarter of 1999 to $2,274,553 in the first quarter
of 2000. Physician fees and other direct costs decreased as a percent of
revenue, representing 59.9% of revenues for the quarter ended March 31, 2000 and
72.7% of revenues for the quarter ended March 31, 1999. The decrease as a
percent of revenue is largely due to the mix of revenue between Physician &
Nurse Recruiting and Physician Management Services. As the Physician Management
Services revenues increase, the larger gross margin related to Physician
Management Services causes a decrease in physician fees and other direct costs
as a percent of revenue.

Physician fees and other direct costs of the Physician Management Services
division increased by $133,193 or 23.6% from the first quarter of 2000 compared
to the same period in 1999. This increase is consistent with the increase in
revenue.

Physician fees and other direct costs of the Physician & Nurse Recruiting
division increased by $107,068 or 7.3% from the first quarter of 2000 compared
to the same period in 1999. This increase is consistent with the increase in
revenue.

OPERATING EXPENSES.  Operating expenses have increased by $1,022,712 or 126.2%
to $1,833,047 in the first quarter of 2000 from $810,335 in the first quarter of
1999. There are several factors contributing to
<PAGE>
the increase in operating expenses, including the development of the IHSDN
division and the clinic acquisitions in 1999.

The company recently launched an integrated health services delivery network
called HealthyConnect.com. This internet-based healthcare network will connect
physicians, hospitals, third party payors and consumers and allow all
participants to access and exchange healthcare related information, purchase
products and services, and communicate more cost-effectively with one another.
During the first quarter of 2000, the company expensed $465,944 on the
development of this concept and $102,639 during the first quarter of 1999.

The company completed the acquisition of a controlling interest in three other
companies, all of which operate medical clinics, in the first quarter of 1999
and acquired YFMC Healthcare Inc. in the last quarter of 1999. These
acquisitions added $748,796 to operating expenses in the first quarter of 2000.

NET PROFIT/LOSS.  As a result of the above items, the company reported income
before HealthyConnect.com, depreciation, amortization, interest, taxes and
financing costs of $157,936 for the three months ended March 31, 2000 as
compared to $55,831 for the three months ended March 31, 1999. The Company
reported a net loss of $424,809 for the three months ended March 31, 2000 as
compared $62,604 for the three months ended March 31, 1999.

LIQUIDITY AND CAPITAL RESOURCES

Through its acquisitions completed in the first quarter of 1999, the Company
assumed bank term loans with current balances totaling $526,711. Approximately
$148,903 was loaned to a subsidiary of the Company under the Small Business
Investment Loans program in which the Canadian government guarantees 90% of the
principal balance of the loan. The remaining balance consists of capital loans
for asset purchases and clinic acquisitions.

As at March 31, 2000, the company's working capital deficit totaled $674,538.
The company has available credit facilities for up to approximately
CDN$4,500,000 (US$3,095,975). The Company established credit facilities that
provide operating lines of credit amounting to CDN$2,600,000 (US$1,788,786),
bearing interest at the bank's prime lending rate plus 0.5% to 1.0% per annum
with interest payable monthly, and capital lines of credit amounting to
CDN$1,850,000 (US$1,272,800). The capital lines of credit bear varying interest
rates from the bank's prime lending rate plus 0.75% to 9.65% per annum. As at
March 31, 2000, the Company has drawn approximately CDN$1,600,306 (US$1,101,002)
against the operating facility and CDN$515,385 (US$354,584) against the capital
facility.

On March 1, 2000, the Company issued a private placement memorandum for equity
financing. The Company currently is in the process of raising gross proceeds of
US$1,700,000 for the issuance of 935,000 common shares. In March, the company
raised gross proceeds of US$500,000 on the issuance of 250,000 shares of
Med-Emerg International Inc. Subsequent to the end of the quarter, the company
raised additional gross proceeds of US$100,000 on the issuance of 50,000 shares.

The Company is in the process of negotiating an agency agreement to raise funds
for its development initiatives in HealthyConnect.com.

In order to provide the financing necessary for the further development of
HealthyConnect.com and the continued pursuit of the company's long-term
acquisition strategy, the company expects to issue equity and debt securities,
the availability and terms of which will depend upon market and other
conditions. There can be no assurance that such additional financing will be
available on terms acceptable to the company.

Forward-looking statements of Med-Emerg International Inc. included herein or
incorporated by reference including, but not limited to, those regarding future
business prospects, the acquisition of additional clinics, the adequacy of
capital resources and other statements regarding trends relating to various
revenue and expense items, could be affected by a number of uncertainties and
other factors beyond management's control.

ITEM 3: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
<PAGE>
No disclosure required.
<PAGE>
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.

                                          MED-EMERG INTERNATIONAL INC.

                                          By: __________________________________
                                            Carl Pahapill
                                            President and Chief Operating
                                          Officer

Date: May 15, 2000