Medical Connections Holdings, Inc. Enters into an Agreement to Acquire National Healthcare Staffing Company
BOCA RATON, Fla.-(Business Wire)-September 24, 2009 - 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, has entered into a Letter of Intent to acquire a nationwide healthcare staffing company, whose 2008 revenue exceeded $50 million.
Medical Connections’ President, Anthony Nicolosi, asserts “Management’s primary focus is to grow the infrastructure of Medical Connections Holdings through strategic and targeted acquisitions. We feel that we have found a company that would not only be a great compliment to our existing structure, but also bring us one step closer to being one of the premier medical staffing companies in the U.S.”
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. “We are very excited about this acquisition, it’s an excellent fit.” Mr. Nicolosi goes on to state, “Additionally, we will continue to seek out strong acquisitions that will contribute to our overall strength and market presence.”
Medical Connections intends to complete the final phases of due diligence over the coming weeks. “We hope to complete this acquisition in the near-term and should that happen, Medical Connections Holdings, Inc. plans on filing for an immediate up listing to a higher exchange. Rest assured we will update our shareholders as further developments unfold,” Mr. Nicolosi declared.
About Medical Connections, Inc.
Medical Connections, Inc. is a pioneering medical recruitment and staffing company, created in 2002 to satisfy 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. Medical Connections, Inc. applies established and innovative methods to meet the needs of its clientele, capitalizing on the more than 40 years’ experience of its key personnel.
In the relatively short period of time since its inception, Medical Connections, Inc. 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, Inc. 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.
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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