Medical Connections Signs Agreement to Buy Midwest Healthcare Staffing Company
March 12 2010 - 7:49PM
Business Wire
Medical Connections Holdings, Inc. (OTCBB:MCTH), one of the
nation’s fastest growing healthcare staffing companies specializing
in allied health, nurse and physician staffing and recruiting
services, said it has executed a definitive agreement to purchase a
well-respected Midwest-based healthcare staffing firm with a
particular expertise in the rapidly-growing field of travel
nursing.
“We are very excited about this latest acquisition,” said
Anthony Nicolosi, President, Medical Connections. “We are staying
within our plan to have under our roof the best experts, leaders
and infrastructure that exist within our industry to become one of
the largest in the sector,” he added.
This acquisition, according to Nicolosi, represents 2009 annual
revenue in excess of $42MM, generating operating profits in excess
of $4.4MM. The company being acquired currently operates out of a
13,000 square-foot space with approximately 100 corporate staff
supporting 500 healthcare professionals working at various clients
throughout the U.S.
Since 2002, this company has been a leader in providing staffing
and related placement services in the area of travel nursing. As
the company grew, it expanded its services and offerings to include
the placement of allied, pharmacists, physicians and other
healthcare professionals to facilities throughout the U.S.
Nicolosi further explains, “This business combination will
present opportunities that will benefit our teams internally as
well as our candidates and clients nationwide.
Medical Connections expects to announce more details in the Form
8-K in the next 3 days and a closing date within 60 days.
About Medical Connections, Inc.
Founded in 2002, Medical Connections, Inc. is a pioneering
medical recruitment and staffing company dedicated to satisfying
the increasing demands for qualified personnel in the healthcare
industry. The company identifies and places medical professionals -
from nurses and physicians to pharmacists and medical scientists –
in facilities throughout the U.S. Medical Connections applies both
established and innovative methods to meet the needs of its
clientele, capitalizing on the more than 40 years’ industry
experience of its key personnel.
In the relatively short period of time since its inception,
Medical Connections has secured a roster of prestigious clients,
both for-profit and not-for-profit organizations, and recruited the
most desirous candidates from across the country. With headquarters
in Boca Raton, Florida, Medical Connections is ideally positioned
to increase its presence in the U.S. healthcare market. Medical
Connections Holdings, Inc. is a fully reporting company trading on
the OTC B/B under the ticker: MCTH.
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This press release includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause actual
results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors include (a) failure to successfully
acquire existing staffing companies to grow its staffing business;
(b) whether the company will have adequate financing to expand its
business; (c) whether the company will effectively manage its
expanding operations which will place significant demands on its
managerial, financial and informational systems; (d) competition
among medical staffing companies for clients and qualified nurses
and other healthcare professionals and personnel; (e) the companies
ability to locate and fill staffing orders; (f) whether general
economic conditions and the regulatory environment will be
favorable to the growth of the company’s business; (g) the
company’s ability to grow organically. The company’s past
performance is not necessarily indicative of its future
performance. The company does not undertake, and the company
specifically disclaims any obligation, to update any
forward-looking statements to reflect occurrences, developments,
events or circumstances after the date of such statement
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: Statements in this press release regarding
Medical Connections Holdings, Inc. business which are not
historical facts are "forward-looking statements" that involve
risks and uncertainties. For a discussion of such risks and
uncertainties, which could cause actual results to differ from
those contained in the forward-looking statements, see "Risk
Factors" in the Company's Annual Report or Form 10-K filed with the
Securities and Exchange Commission for the most recently ended
fiscal year at www.sec.gov.
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