Medical Connections, Inc. Provides Corporate Update to the Financial Community
January 20 2010 - 8:00AM
Business Wire
Medical Connections, Inc. (OTCBB: MCTH), a national provider of
medical recruitment and staffing services, is pleased to provide
this corporate update to the financial community which outlines the
recent acceleration in the company’s current business trend.
Medical Connections has completed the final phases of due
diligence of the acquisition of a national healthcare staffing
company. Medical Connections is in the final stages of completing
this acquisition and hopes to have it completed within the first
quarter of 2010. The addition of this acquisition is potentially
great news for Medical Connections and its shareholders. This
national company runs a strong, profitable operation with virtually
the same business lines as Medical Connections.
Medical Connections, Inc. highlights from the second half of
2009:
- Entered into a Letter of Intent
to acquire a national healthcare staffing company, whose 2008
revenue exceeded $50,000,000.
- Retained Joseph Gunnar &
Company as its exclusive investment banker.
- Finalized implementation of
Microsoft ERP software platform.
- Amended lease on new office
space and realized significant cost savings.
Medical Connections, Inc. is a national provider of
medical recruitment and staffing services. Established in 2002 to
satisfy the increasing need for highly qualified healthcare
professionals, the Company’s business is to identify, select and
place the industry’s most talented healthcare specialists, nurses,
pharmacists, physicians and hospital management executives. The
Company provides recruiting and staffing services for permanent and
contract positions, leaving options for both clients and candidates
to decide the optimal formula for working together.
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: This press release contains forward-looking
statements (within the meaning of Section 27a of the Securities Act
of 1933 and Section 21e of the Securities Exchange Act of 1934)
regarding us and our business, financial condition, results of
operations and prospects. Forward-looking statements in this report
reflect the good faith judgment of our management and the
statements are based on facts and factors as we currently know
them. Forward-looking statements are subject to risks and
uncertainties and actual results and outcomes may differ materially
from the results and outcomes discussed in the forward-looking
statements. Actual results could differ materially from those
projected in the forward-looking statements, as a result of either
the matters set forth or incorporated in this report generally or
certain economic and business factors, some of which may be beyond
the control of Medical Connections. These factors include adverse
economic conditions, entry of new and stronger competitors,
inadequate capital to support our operations, projections of
revenues and profitability and other risks described in our 10-K
for our fiscal year ended December 31, 2008. Readers are urged not
to place undue reliance on these forward-looking statements which
speak only as of the date of this press release. We undertake no
obligation to revise or update any forward-looking statements in
order to reflect any event or circumstance that may arise after the
date of the press release.
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