The present invention relates in general to portable first aid kits and, in particular, to a low profile first aid kit that is adaptable for a quick release from a carrier and can be easily stored and carried by a person. The design of the disclosed release system allows for the first aid kit to be released with one hand from a carrier with mounting capabilities. Additionally, the medical kit includes a dual purpose carrier strap that can either be wound around the first aid kit and operable to torque the kit for storage purposes when in the closed position, or used to carry the kit in the open position until it can be secured and subsequently stored.