In 2002, Medical Connections Holdings, Inc. (OTCBB:MCTH) was established to fill a need for an ever-increasing demand for highly-qualified healthcare professionals. Emerging as an industry leader, MCTH has evolved into a full-service, national provider of medical recruitment and staffing services that covers the complete medical spectrum from careers in physicians to oncology/radiology positions to Director of Nursing jobs to physician assistants and back again. In all terms, MCTH is focused on providing superior professionals to the industry.
For several years, MCTH has been focused on steady core developments of the company and recently has shifted its business to a more lucrative niche emphasizing the recruiting of allied health specialists and physicians. This adjustment in business strategy has resulted in a triple digit increase in placements for physical and occupational therapists and is paying rewards to the Company in terms of operations and revenues. Medical Connections is seeing continuing room for expansion within the industry and intends to grow exponentially in the future through employment of an even greater number of professionals. In fact, throughout 2009 and 2010, MCTH is in the midst of hiring more than 500 allied health professionals to add to its candidate pool.
In order to facilitate this rapid growth through further acquisitions of staffing and related companies, Medical Connections announced on Monday that it has received $2.5 million in new acquisition capital from Medical Connections-Japan. This additional funding will keep the Company’s acquisition strategy on target and extremely focused. It is perhaps best summed up by Anthony Nicolosi, President of Medical Connections, as he stated, “Our strategy is focused and disciplined. We select potential acquisitions for due diligence from two sectors; Allied and Nursing. Only those that meet our stringent criteria will be interviewed for acquisition. Although our M & A process is time-consuming, it does carry with it a greater assurance of success.”
Yesterday, Medical Connections Holdings announced growth in revenue that showcases their success and footprint within the industry. The Company reported a year-over-year growth performance that was positively affected by a 62% increase in contract travel revenue, primarily due to continuing improvements in operations. Complementing the contract travel revenue gains, overall third quarter revenue was shown to be up 46% for the third quarter.
MCTH has had a wild trading year, having its shares top out in early February of 2010 at $0.59 after hitting its 52 week low earlier this week at $0.14. However, with the new capital money and rising revenues, this stock is worthy of taking a second look at, especially with these bargain prices.
