VIENNA, Va., Jan. 12, 2004 (PRIMEZONE) -- MSSI-TeleScience International Inc., (OTCBB:MSSI), a provider of medical personnel, homeland security products and technology services to federal, state and local government agencies, announced today that it will expand its successful government-focused medical staffing services during 2004 to include the commercial marketplace. Initially, the Company plans to pursue staffing opportunities in the rapidly growing home health care services industry. Medical staffing in this market segment consists of serving patients in their home during times of illness with a variety of nursing personnel. An alternative to hospital, hospice and assisted living facilities, home health care staff support patients ranging from children to senior citizens recovering from illness, living with chronic conditions or needing daily assistance.
MSSI will launch its market entry in this new sector during the first quarter of 2004 and is currently recruiting an executive to lead this new business initiative. Additionally, the Company is identifying potential medical staffing acquisition targets in selected geographic regions that already serve an established client base.
According to industry research, home health is forecasted to grow by over 42 percent in the next five years, as key demographic drivers remain in place in this new decade and the nation's population continues to age. In 1994, approximately one in eight Americans was age 65 and older. By 2030, one in five Americans will be a senior citizen.
Medical staffing is considered one of the fastest growing business opportunities in America today. According to the Bureau of Labor Statistics, one of the top three fastest growing industries is health care, which is a major client of the staffing industry.
"We are positioning ourselves today to take advantage of the tremendous growth opportunities for medical professionals in the home health care sector," said Dr. B.B.Sahay, President and CEO. "I am enthusiastic about our expanded market focus for 2004 and beyond as we leverage our skills and depth of experience in the medical staffing business to address this burgeoning market."
About the Company
MSSI-TeleScience International is a provider of medical personnel, homeland security products and technology services to federal, state and local government agencies and has a workforce of more than 200 employees. The Company's Medical Services Division, with operations in 20 states, provides hospital and medical facilities with doctors, nurses and technicians. It has long-term contracts with the U.S. Army, the Department of Health and Human Services, and the State of California, to mention a few.
Its 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 was recently named as a participant in a $1 billion IDIQ contract with the State of Pennsylvania.
For additional information, please visit the company website at www.mssi-intl.com. Shareholders can log onto the shareholder registration page to receive future news and information. The Company headquarters is located at 8150 Leesburg Pike, Suite 1200, Vienna, VA 22182.
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 and market acceptance of our services, changes in our business strategies.