PITTSBURGH -- World Health Alternatives, Inc. (OTC BB: WHAI), a premier medical staffing company that provides medical, professional, and administrative staffing services to the healthcare industry, announced today that it has completed its acquisition of substantially all of the assets of Curley
CurleyMed, which specializes in travel placements of allied healthcare professionals, has historically been profitable and achieved gross margins of approximately 34% on its staffing placements. It currently has approximately 200 clients in over 40 states. As a result of this acquisition, World Health now has field consultants available to work in all 50 states, a client roster of over 1,100 and a database of active medical professionals of approximately 70,000. CurleyMed indicates it had revenues of approximately $6.3 million for fiscal year ending December 31, 2003.
Richard McDonald, President of World Health, commented, "We are pleased to add CurleyMed to the growing list of outstanding firms that have become part of the World Health family. We are particularly excited that CurleyMed's owners and management team will become employees of World Health and continue to operate what has been a successful business. We expect CurleyMed, which is based near Orlando, to expand our presence in Florida, where our Boca Raton office is already well established. It will also provide us with national staffing capabilities in the allied health sector of the staffing industry."
Noal Curley, one of CurleyMed's two owners, said, "We are delighted to be joining World Health's national organization and gaining access to its expanded resources and expertise. This transaction will enable us to provide additional services to our existing clients and expand our operations to new territories and clients. Of equal importance is the fact that World Health, like CurleyMed, believes in providing the highest quality services to its clients and its healthcare consultants."
World Health Alternatives, Inc. (OTC BB: WHAI) is a premier human resource firm offering specialized healthcare personnel for staffing and consulting needs in the healthcare industry. The Company places its experienced personnel on a project, temporary, permanent, or temporary-to-permanent basis. These options allow clients to control the expenses associated with new staff while also giving them the unique opportunity to evaluate a candidate's performance essentially risk-free. The Company is headquartered in Pittsburgh, PA, and it maintains branch offices in Citrus Heights, CA, Cleveland, OH, Boca Raton, FL, Sanford, FL, Danvers, MA, Portsmouth, NH and Nashua, NH. For more information, please visit the Company's website, www.worldhealthalternatives.com.
This press release contains forward-looking statements. The words or phrases "may," "intends," "expects," "estimate," "indicate," "plans," "anticipates," "could," "if," "projects," "forecast," "should" or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These risks and uncertainties include: (a) whether World Health Alternatives, Inc. ("the Company") will successfully acquire existing staffing companies to grow its staffing business; (b) whether the Company will have adequate financing to expand its business and execute acquisitions; (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 qualified nurses and other healthcare professionals and personnel; (e) whether general economic conditions and the regulatory environment will be favorable to the growth of the Company's business; (f) whether Curley and Associates, LLC ("CurleyMed") had revenue of approximately $6.3 million for fiscal year ending December 31, 2003, and will continue to be a successful and profitable operation following the integration of its assets by the Company; (g) whether the Company's acquisition of CurleyMed's assets will enable it to expand its presence in Florida and provide it with national staffing capabilities in the allied health sector of the staffing industry; (h) whether the acquisition will enable the former CurleyMed operations to provide additional services to its clients and expand its operations to new territories and clients; (i) other factors set forth in the Company's periodic reports and Form SB-2 Registration Statement filed with the Securities and Exchange Commission, which may be reviewed by accessing the SEC's EDGAR system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place undue reliance on such statements. Unless otherwise required by applicable law, the Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statements.