BOCA RATON, Fla.--(BUSINESS WIRE)-- Medical Connections Holdings, Inc. (OTCBB: MCTH), a national provider of medical recruitment and staffing services, reported today on its revenue gains in 2010 compared to staffing industry analysts estimates.
The Company had previously reported that its annual revenue has increased 27% compared to 2009 and 47% when comparing fourth quarter 2010 to fourth quarter 2009. This compares favorably to the 2010 year-end estimate by Staffing Industry Analysts of a 4% decline in allied-based revenue and an 8% decline for the healthcare staffing industry, as a whole. The improvement reflected volume gains in contract travel staffing in the allied segment, the Company’s primary business line.
Anthony Nicolosi, Company President, stated, “Despite the negative effects on our industry in 2009 and 2010 caused by the severe economic downturn, 2011 and beyond are expected to deliver positive revenue growth for the healthcare staffing industry. More importantly, Medical Connections was able to deliver a robust 27% growth in revenue in 2010 that far exceeded the estimates of staffing industry analysts for the same period. We attribute our growth to our focus on business fundamentals and commitment to success. We believe the worst economics are behind us and are positive in our outlook for 2011.”
Medical Connections, Inc. 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.
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.
"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, 2009. 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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