VIENNA, Va., Jan. 3 /PRNewswire-FirstCall/ -- Dr. B.B. Sahay, President and CEO of MSSI-TeleScience International, Inc. (OTCBB: MSSI), a provider of long-term medical personnel, homeland security and technology services to federal, state and local governments, commented on the company achievements in 2004 and the outlook for 2005.
"Year 2004 was the most dynamic in the company's twelve year history," said Dr. B.B. Sahay. "We have grown from a privately-held government contracting firm focused on the public sector, to a publicly traded company poised for accelerated growth through mergers, acquisitions, strategic alliances, and dynamic internal growth in both public and private sectors. We stand at the forefront of a new era for MSSI."
In nearly a year since the company went public, MSSI-TeleScience has announced a stream of new business including contract wins, extensions/ renewals, and new projects won through distinct strategic alliances with its business partners.
The major achievements for MSSI this year include:
-- Renewal of a $1 billion Indefinite Delivery Indefinite Quantity (IDIQ)
contract with the Commonwealth of Pennsylvania for homeland security
products
-- Multiple vendor nursing staffing contract from the California
Department of Corrections: $50 million ceiling
-- Multiple vendor Nurse Practitioners contract from the California
Department of Corrections: $6 million ceiling
-- Contract extensions with Air Force Base Clients
-- Fairchild Air Force Base
-- Patrick Air Force Base
-- Kirtland Air Force Base
-- Tinker Air Force Base
-- Establishment of a $15 million equity financing commitment to grow
business through merger and acquisitions
-- Formation of major strategic alliances and subcontracting relationships
-- USA FutureTech, Inc.
-- Com-Vet Medical Technologies, LLC
-- Win of $2.5M contract through subcontracting relationship with Com-Vet
Medical Technologies, LLC at Winn Army Community Hospital for Physician
Assistant services in Fort Stewart, Georgia.
-- Letter of Intent signed to acquire Nurses PRN, LLC
-- $20M projected 2005 revenue, independent of MSSI projected revenue
-- Places MSSI-TeleScience directly in private healthcare staffing
arena
-- Diversifies MSSI's client base between government and private
industry clients
Future Opportunities:
-- MSSI-TeleScience has over $40 million of contract bids in the pipeline
and is awaiting results
-- A number of potential acquisitions candidates are being reviewed for
2005
More information about MSSI-TeleScience International, Inc. may be found at: http://www.telescience.com/.
For MSSI-TeleScience inquiries, call 1-800-811-9499 x131 or e-mail: investmentrelations@telescience.com.
About MSSI-TeleScience
In operation since 1992, MSSI-TeleScience International, Inc. is a provider of long-term medical personnel, homeland security and technology services to federal, state and local government agencies and to the private sector. The company's Medical Services Division has operations in 22 states servicing hospital and medical facilities with a complete range of medical staff, including doctors, nurses and technicians. The company holds multiple long-term contracts, including those with the U.S. Army, the U.S. Department of Health and Human Services and the state of California.
The company's Technology Division provides systems integration and information technology services to the federal government, as well as emergency equipment, decontamination products, vehicles and supplies to state and local governments. The company has been named as a participant in a $1 billion IDIQ (Indefinite Delivery Indefinite Quantity) contract with the Commonwealth of Pennsylvania for homeland security equipment.
MSSI-TeleScience International currently has over 200 employees and continues to grow its staff and contracts. For more information, visit the company's website at http://www.telescience.com/.
Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. MSSI-TeleScience disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to, risks associated with changes in general economic and business conditions (including in the information technology and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand, market acceptance of our services and changes in our business strategies.
MSSI-TeleScience International, Inc.CONTACT: Reeba Magulick of MSSI-TeleScience International, Inc.,+1-703-641-8890, ext. 131
Web site: http://www.telescience.com/
