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Net Medical Xpress new staffing division has strong growth prospects

Net Medical Xpress Solutions said today that initial results from its newly acquired staffing company, MedTel Solutions, have exceeded management expectations and the company is looking for solid growth going forward.

CEO Dick Govatski said, "Yesterday we reported a strong quarter of profitable growth for our company. Part of that story is the benefit we have already received from our new staffing division in Huntsville, AL that we acquired at the end of the second quarter. The addition of the unit is proving to be accretive, adding revenue in the quarter of $101,000 and operating income of $25,000. This is a valuable addition to our overall telemedicine one-stop solution strategy."

Net Medical Staffing CEO Jason Sowash said, "Gross profitability in the quarter was approximately 65% as we continued to expand our nationwide physician network. We currently have over 350 primary care physicians in our 39 state network. By the second quarter of 2014, we expect to have over 700 physicians in 45 states, as we expand into specialties such as neurology, cardiology and psychiatry.

"This growing network means that Net Medical Xpress increasingly becomes a one-stop telemedicine, turn-key solution. Almost daily, we are seeing new interest from groups, health systems and telemedicine companies in our network and the superior telemedicine technology of Net Medical Xpress. With America facing increasing and even acute shortages of physicians associated with ongoing changes in our healthcare system, we believe our staffing network and the Net Medical Xpress telemedicine operations will be an important part of the solution," Sowash added.


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