I realized the MED had no real exporting options.
That is why I wrote my own Mdl to Obj converter.

It takes all the Mdl files in the folder and converts them in one by one into the obj folder.
It creates the corresponding .obj .mtl and also the textures as .tga.

Also note that if some Mdls share textures the texture is only exported once and used by multiple .mtl files.

I suggest to convert the resulting .obj files with the autodesk fbx converter for smaller files and a more reliable format.

Do whatever you like with it. Also you are using this piece of ugly code at your own risk.

DOWNLOAD

EDIT: and of course it has multiple skin support. (It only exports the skins that are actually used though.)

Cheers