Navigation Links
TeamStaff Announces Amended Revolving Credit Facility with Sovereign Business Capital
Date:4/3/2008

SOMERSET, N.J., April 3, 2008 /PRNewswire-FirstCall/ -- TeamStaff, Inc. (Nasdaq: TSTF) a national provider of healthcare and administrative staffing services, today announced that it entered into a three year, $3 million amended and restated loan and security agreement with Sovereign Business Capital ("SBC", formerly Business Alliance Capital Company), a division of Sovereign Bank. Under the loan credit facility, SBC takes assignment of TeamStaff's prior revolving credit facility with PNC Bank which was first executed in 2005. The credit facility with SBC also contains provisions that will potentially increase the Company's borrowing capacity as the business grows or strategic acquisitions are considered.

"The amended revolving credit facility is more clearly aligned with our liquidity needs during the upcoming year. The line also provides TeamStaff with flexibility to grow as additional accounts receivable are generated either organically or through acquisitions," said Rick J Filippelli, TeamStaff's President and CEO.

About TeamStaff, Inc.

Headquartered in Somerset, New Jersey, TeamStaff serves clients and their employees throughout the United States as a full-service provider of medical and administrative staffing through its two subsidiaries, TeamStaff Rx and TeamStaff Government Solutions. TeamStaff Rx is a leading provider of travel nursing and travel allied healthcare professionals. TeamStaff Rx operates throughout the U.S. and specializes in the supply of travel allied medical employees and travel nurses typically placed on 13 week assignments. TeamStaff Government Solutions specializes in providing medical and office administration/technical professionals through nationwide Federal Supply Schedule contracts with both the United States General Services Administration and the United States Department of Veterans Affairs. For more information, visit the TeamStaff web site at http://www.teamstaff.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:

This press release contains "forward-looking statements" as defined by the Federal Securities Laws. Statements in this press release regarding TeamStaff, Inc.'s business, which are not historical facts are "forward-looking statements" that involve risks and uncertainties. TeamStaff's actual results could differ materially from those described in such forward-looking statements as a result of certain risk factors and uncertainties, including but not limited to: our ability to recruit and retain qualified temporary and permanent healthcare professionals and administrative staff upon acceptable terms; our ability to enter into contracts with hospitals, healthcare facility clients, affiliated healthcare networks, physician practice groups, government agencies and other customers on terms acceptable to us and to secure orders related to those contracts; changes in the timing of customer orders for placement of temporary and permanent healthcare professionals and administrative staff; the overall level of demand for our services; our ability to successfully implement our strategic growth, acquisition and integration strategies; the effect of existing or future government legislation and regulation; the loss of key officers and management personnel that could adversely affect our ability to remain competitive; other regulatory and tax developments; and the effect of other important factors disclosed previously and from time-to-time in TeamStaff's filings with the U.S. Securities Exchange Commission. For a discussion of such risks and uncertainties which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year. The information in this release should be considered accurate only as of the date of the release. TeamStaff expressly disclaims any current intention to update any forecasts, estimates or other forward-looking statements contained in this press release.


'/>"/>
SOURCE TeamStaff, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Nasdaq Hearings Panel Grants TeamStaffs Request for Continued Listing Subject to a Reverse Stock Split
2. TeamStaff Rx Awarded JCAHO Certification
3. TeamStaff Reports First Quarter Net Income and $0.7 Million Income Improvement From Continuing Operations Over Prior Year
4. TeamStaff Hires Jeff Davis as Director of Operations for Government Solutions Subsidiary
5. TeamStaff Renames Subsidiary to Reflect Expanding Government Services
6. TeamStaff Sells Per Diem Business Unit
7. TeamStaff Reports Fourth Quarter and Fiscal 2007 Results; Posts Fourth Quarter Income From Operations
8. TeamStaff Receives Nasdaq Determination Letter
9. TeamStaff Receives A Letter of Reprimand From Nasdaq; No Further Action Contemplated
10. Mach One Corporation Announces Completion of Final Tests Prior to Full Scale Production
11. Summit VetPharm Announces Second Winner in Its Great Vectra 3D(TM) $125,000 Giveaway
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/13/2017)... ... , ... The American Board of Family Medicine's (ABFM) Board of Directors has ... succeeding Dr. James C. Puffer upon his retirement. Dr. Newton will serve in the ... at the end of 2018. Upon assuming the role of President and CEO on ...
(Date:10/13/2017)... ... , ... Apple Rehab Shelton Lakes , which specializes in the delivery ... as part of a disaster drill on October 3rd. , Apple Rehab participated with ... Manager, as well as the Connecticut Long Term Care Mutual Aid Plan (LTC-MAP). ...
(Date:10/13/2017)... ... 2017 , ... Yisrayl Hawkins, Pastor and Overseer at The House of Yahweh, ... and least understood books in the Holy Scriptures, Revelation. The Book of Revelation paints ... for centuries. Many have tossed it off as mere rubbish, but Yisrayl Hawkins says ...
(Date:10/12/2017)... ... October 12, 2017 , ... First Healthcare Compliance (FHC), an ... showcase a range of technology and learning solutions at the 68th Annual American ... to be held October 14–18, 2017 at the Mandalay Bay Resort in Las ...
(Date:10/12/2017)... ... ... The American College of Medical Informatics (ACMI) will present the 2017 Morris F. ... AMIA’s Annual Symposium in Washington, D.C. AMIA’s Annual Symposium is taking place ... the field of medical informatics, this prestigious award is presented to an individual whose ...
Breaking Medicine News(10 mins):
(Date:10/2/2017)... Denmark , Oct. 2, 2017 The Rebound ... in the struggle to reverse the tide of prescription drug ... for regulating their medicine intake and stepping down their dosage ... set to launch in December 2017; the first 100,000 people ... Learn more at http://www.rebound-solution.com/ ...
(Date:9/27/2017)... YORK , Sept. 27, 2017  DarioHealth Corp. (NASDAQ: DRIO), a ... today announced that its MyDario product is expected to appear on The ... when The Dr. Oz Show airs in your area: http://www.doctoroz.com/page/where-watch-dr-oz-show ... The nine-time Emmy award-winning, The Dr. Oz ... The ...
(Date:9/22/2017)... , Sept. 22, 2017  As the latest Obamacare ... Bill Cassidy (R-LA) and Lindsey Graham ... that the medical device industry is in an odd ... tax, the 2.3% excise tax on medical device sales ... also want covered patients, increased visits and hospital customers ...
Breaking Medicine Technology: