MedCAREERS GROUP, Inc. Reaches Agreement in Principle to Acquire StaffMD
05 March 2010 - 9:00AM
PR Newswire (US)
ATLANTA, March 4 /PRNewswire-FirstCall/ -- MedCAREERS GROUP, Inc.
(the "Company" and "MCGI") (BULLETIN BOARD: MCGI) today announced
that it has signed a letter of intent to acquire StaffMD a leading
online job posting website in the physician staffing industry.
StaffMD operates primarily under the name
http://www.physicianwork.com/, but it has other operating assets as
well. StaffMD was founded ten years ago by Jeffrey Sisk and he will
remain with the Company after the closing of the pending
acquisition. StaffMD has most of the major physician staffing
companies as clients who use http://www.physicianwork.com/ to
advertise their job listings. The transaction is subject to due
diligence and execution of definitive documentation which the
parties expect to be finalized within 60 days. Physicianwork.com
was cited in a 2007 survey conducted by the New England Journal of
Medicine (NEJM) as the second most popular online source for
physicians looking for jobs. (NEJM's website was the most popular.)
Commenting on the proposed transaction Mr. Sisk noted: "I am a big
believer in the strategy of MCGI and I am looking forward to being
a part of the Company. I believe that there is a lot of opportunity
to grow StaffMD and to implement and grow the other brands that
MCGI is looking to acquire. A substantial amount of my selling
price is in MCGI stock so I will be vested in the future success of
the Company and I will work hard to make sure StaffMD continues to
prosper." Commenting on the proposed transaction for MedCAREERS
GROUP, CEO R. Bryan Crutchfield commented: "StaffMD is a leading
company in the job posting space that has been built over the last
ten years. Jeff Sisk has done a great job and to be able to attract
someone of his pedigree along with the StaffMD business is a huge
endorsement of our strategy. Physicianwork.com is an extremely
strong brand as evidenced by the 2007 New England Journal of
Medicine survey results and should be a tremendous asset for
MedCAREERS Group to control." About MedCAREERS GROUP, Inc.:
MedCAREERS GROUP (http://www.medcareersgroup.com/) mission is to
become a leader in the healthcare career arena with a focus on the
healthcare professional. MedCAREERS Group's goal is to build itself
into a complete resource for the healthcare professional with an
emphasis and understanding of what healthcare professionals need as
a resource to assist them in maximizing their careers. MedCAREERS
Group aims to be the "go to" place for the healthcare professional
community. MedCAREERS Group intends to offer easy, comprehensive
solutions and information that is exclusively healthcare related.
This press release may contain forward-looking statements,
including information about management's view of the Company's
future expectations, plans and prospects, within the safe harbor
provisions under The Private Securities Litigation Reform Act of
1995 (the "Act"). In particular, when used in the preceding
discussion, the words "believes," "expects," "intends," "plans,"
"anticipates," or "may," and similar conditional expressions are
intended to identify forward-looking statements within the meaning
of the Act, and are subject to the safe harbor created by the Act.
Any statements made in this news release other than those of
historical fact, about an action, event or development, are
forward-looking statements. These statements involve known and
unknown risks, uncertainties and other factors, which may cause the
results of the Company, and concepts to be materially different
than those expressed or implied in such statements. These risk
factors and others are included from time to time in documents the
Company files with the Securities and Exchange Commission,
including but not limited to, its Form 10-Ks, Form 10-Qs and Form
8-Ks. Other unknown or unpredictable factors also could have
material adverse effects on the Company's future results. The
forward-looking statements included in this press release are made
only as of the date hereof. The Company cannot guarantee future
results, levels of activity, performance or achievements.
Accordingly, you should not place undue reliance on these
forward-looking statements. Finally, the Company undertakes no
obligation to update these statements after the date of this
release, except as required by law, and also takes no obligation to
update or correct information prepared by third parties that are
not paid for by the Company. DATASOURCE: MedCAREERS GROUP, Inc.
CONTACT: Investor Relations Department,
+1-866-472-7781,ir@medcareersgroup.com Web Site:
http://www.medcareersgroup.com/
Copyright
Claymore/Clear Mid-Cap Growth Index Etf (AMEX:MCG)
Historical Stock Chart
From Apr 2024 to May 2024
Claymore/Clear Mid-Cap Growth Index Etf (AMEX:MCG)
Historical Stock Chart
From May 2023 to May 2024
Real-Time news about Claymore/Clear Mid-Cap Growth Index Etf (American Stock Exchange): 0 recent articles
More Claymore/Clear Mid-Cap Growth Index Etf News Articles