Medical Connections Holdings, Inc. Reports Operating Results for the Third Quarter and First Nine Months of 2011

Medical Connections Holdings, Inc. (OTCBB:MCTH) a national provider of healthcare staffing services, announced today its operating results for the third quarter and the first nine months of 2011. Revenue for the third quarter of 2011 was $1,362,871, a decrease of 39.8% when compared to the third quarter of 2010. The decrease was primarily due to a 57.4% drop in permanent placement hires during the period. The Company had a net loss of $942,806 in the third quarter 2011, a 20.4% improvement when compared to the net loss of $1,184,636 in the third quarter of 2010.

Revenue for the first nine months of 2011 was $5,173,448, a decrease of $430,057 or 7.7%, when compared to $5,603,505 in revenue for the same period one year ago. The Company posted a net loss of $2,745,320 in the first nine months of 2011, a 52.1% improvement when compared to the net loss of $5,725,109 in 2010.

Anthony Nicolosi, Company President, stated, “During the last several quarters, we have been focused on operational restructuring that centered on gross profit margin improvement and reductions in operating expense. As a result, we have experienced a 62.9% improvement in gross profit margin in our travel business. As we have now completed the restructuring of the Company’s operations, we are confident in our ability to grow higher margin travel revenue over the next several quarters and at a quicker pace.”

Medical Connections, Inc., headquartered in Boca Raton, Florida, is a national provider of medical recruitment and staffing services. 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.

Medical Connections Holdings, Inc. is a fully reporting company trading on the OTC B/B under the ticker: MCTH.

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"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 press release 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 economic and business factors, some of which are 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/A for our fiscal year ended December 31, 2010 filed with the SEC on July 1, 2011. 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.

Medical Connections (CE) (USOTC:MCTH)
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