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World Health Alternatives, Inc. Signs Definitive Stock Purchase Agreement with Pulse Healthcare Staffing, Inc. of California.


Business Editors/Health/Medical Writers

PITTSBURGH--(BUSINESS WIRE)--May 3, 2004

Pulse Healthcare Staffing Had Approximately $20

Million in Revenue for 2003

World Health Alternatives, Inc. (OTC OTC

See: Over-the-counter.


OTC

See over-the-counter market (OTC).
 BB: WHAI WHAI is an adult contemporary radio station in Greenfield, Massachusetts, owned by Saga Communications. The station operates on 98.3 MHz. WHAI has operated on the FM dial since 1948; however, its roots date back to the 1938 sign on of WHMQ, which shared the WHAI call sign with the ), a premier medical staffing company that provides medical, professional, and administrative staffing services to the healthcare industry, announced today that it has signed a definitive Stock Purchase Agreement with Pulse Healthcare Staffing, Inc. of Citrus Heights, California Citrus Heights is a city in Sacramento County, California, USA. As of the 2000 census, the city had a total population of 85,071. As of 2006, the city's total increased to 86,883. [2] It has two ZIP Codes: 95610 and 95621. , pursuant to which World Health will acquire Pulse Staffing. Terms of the deal were not disclosed.

Pulse Staffing, which achieved revenues of approximately $20 million for the fiscal year ending December December: see month.  31, 2003, is a prominent supplier of registered nurse staffing services to healthcare facilities such as emergency rooms, intensive care units and extended care/acute rehabilitation rehabilitation: see physical therapy.  facilities. Pulse has approximately 175 clients across seven western states, with California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W).  being its largest market, and a database containing approximately 20,000 nurses. Since its inception in 2001, it has grown its revenues organically at an annual average of 330%.

Richard Ri·chard   , Joseph Henri Maurice Known as "Rocket." 1921-2000.

Canadian hockey player. A right wing for the Montreal Canadiens (1942-1960), he led his team to eight Stanley Cup championships and was the first player to score 50 goals in a
 McDonald, President of World Health said, "This acquisition should provide us with a significant piece of the west coast market share and, in conjunction with our offices in Ohio, Pennsylvania Pennsylvania (pĕnsəlvā`nyə), one of the Middle Atlantic states of the United States. It is bordered by New Jersey, across the Delaware River (E), Delaware (SE), Maryland (S), West Virginia (SW), Ohio (W), and Lake Erie and New York  and Florida, give us a nationwide presence in the medical staffing industry. We are also pleased that Pulse's key managers, who combined have nearly four decades of staffing experience among them, will be staying with Pulse following the acquisition to continue the strong growth that both Pulse and World Health have enjoyed. This influx of managerial talent, along with Pulse's innovative, web-based IT infrastructure, will strengthen World Health and help form the backbone of its operations for years to come."

John Sercu, Pulse's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said, "Pulse is excited about the expanding business opportunities that this acquisition presents. We have several million-dollar contracts, a strong revenue stream and the personnel and infrastructure already in place to handle up to $100 million in revenue without significant additional hiring or system upgrades. We expect that World Health will be able to cross-sell its allied health staffing services to our existing nurse staffing client base and that we will be able to expand our services across the U.S. to the east coast using World Health's network of clients and resources."

Mr. McDonald also commented, "California is an important market for us, in part, because of the California Safe Hospital Staffing law, which requires California hospitals to have enough nurses to provide each patient with safe and quality care. These ratios set a cap on the number of patients for whom any single nurse can be responsible and have phased-in implementation dates of January 1, 2004, 2005 and 2008. We expect the demand for temporary-to-permanent staffing placements of nursing professionals to grow significantly in California as a result of this legislation."

Eric Allison, Pulse's founder, said, "World Health is a company that is clearly committed to becoming a nationwide provider of the highest level of medical staffing services at a time when the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area.  is dealing with chronic shortages of qualified medical professionals. Pulse is excited about becoming a part of that dynamic company and is pleased that World Health recognized the tremendous potential in Pulse's fast growing business and the dedicated people who run it. Our expertise in nurse staffing and World Health's expertise in allied health staffing should compliment Not to be confused with Complement.
Compliment may be
  • An expression of praise, congratulation or encouragement.
  • A misspelling for complement, meaning something which makes the original object complete.
 one another well and further enable the companies to continue their strong growth."

Mr. McDonald concluded, "We anticipate that World Health's acquisition of Pulse will provide us with a larger pool of medical professionals, greater managerial expertise and higher levels of revenue in the future. In light of this acquisition and our acquisition of Superior Staffing Solutions, Inc. back in December 2003, we are confident that we can serve the travel, per diem per diem adj. or n. Latin for "per day," it is short for payment of daily expenses and/or fees of an employee or an agent.  and allied health staffing needs of the medical industry. We also believe that additional acquisitions, where there is a business fit, could enable us to expand into new territories and increase our market share."

World Health Alternatives, Inc. (OTC BB: WHAI) is a premier human resource firm offering specialized spe·cial·ize  
v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es

v.intr.
1. To pursue a special activity, occupation, or field of study.

2.
 healthcare personnel for staffing and consulting needs in the healthcare industry. The Company, through its MedTech Medical Staffing Division, 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 Cleveland, OH, and Boca Raton Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , FL. For more information, please contact Richard McDonald, at 412.829.7800 (ext. 223), Michael Porter This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. , at 212.564.4700, or Anthony Altavilla, at 317.218.0204, or visit the Company's website at www.better-solutionsinc.com.

This press release contains forward-looking statements forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
. The words or phrases "may," "intends," "expects," "estimate," "indicate," "should," "could," "if," "projects," "forecast," "anticipate" 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 fa·vor·a·ble  
adj.
1. Advantageous; helpful: favorable winds.

2. Encouraging; propitious: a favorable diagnosis.

3.
 to the growth of the Company's business; (f) whether the transactions discussed herein will be consummated con·sum·mate  
tr.v. con·sum·mat·ed, con·sum·mat·ing, con·sum·mates
1.
a. To bring to completion or fruition; conclude: consummate a business transaction.

b.
 following additional due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired.  and whether the transaction terms will be consistent with those set forth in the Stock Purchase Agreement; (g) whether the indicated sales of Pulse Healthcare Staffing, Inc. ("Pulse") are accurate and revenue growth can be achieved for fiscal year 2004 in light of competition among medical staffing companies and the general economic and regulatory environment in which Pulse operates; (h) whether the acquisition will give the Company a significant piece of the west coast market share and, when combined with the Company's existing operations, a nationwide presence in the medical staffing industry; (i) whether Pulse's key managers continue their employment after the acquisition and enable that company to achieve growth; (j) whether Pulse's managers and its IT infrastructure will strengthen the Company's operations now and in the future; (k) whether Pulse has sufficient personnel and infrastructure in place to handle up to $100 million in revenue without significant additional hiring or system upgrades; (l) whether the Company will be able to cross-sell its allied health staffing services to Pulse's existing clients; (m) whether Pulse will be able to expand its services across the United States to the east coast using the Company's network of clients and resources; (n) whether the California Safe Hospital Staffing law will increase demand for nurse staffing services in California and positively affect Pulse and the Company's business; (o) whether Pulse's expertise in nurse staffing and the Company's expertise in allied health staffing will compliment one another well and enable the companies to continue their growth; (p) whether the acquisition of Pulse will provide the Company with a larger pool of medical professionals, greater managerial expertise and higher levels of revenue in the future; (q) whether the Company's past and future acquisitions will enable the Company to expand into new territories and increase its market share; and (r) 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 Edgar or Eadgar (both: ĕd`gər), 943?–975, king of the English (959–75), son of Edmund, king of Wessex. In 957 the Mercians and Northumbrians rebelled against Edgar's brother Edwy and chose Edgar as their king.  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 CIRCUMSTANCES, evidence. The particulars which accompany a fact.
     2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or
 after the date of such statements.
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Publication:Business Wire
Date:May 3, 2004
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