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World Health Alternatives, Inc.'s Assets Eclipse $100 Million Mark; Company Continues to Vertically Integrate and Strengthen Management Team

Business Wire, Jan 18, 2005

PITTSBURGH -- World Health Alternatives, Inc. (OTC BB: WHAI), a premier medical staffing company that provides medical, professional, and administrative staffing services to the healthcare industry, announced today that its series of acquisitions over the last 13 months have raised its assets over the $100 million mark.

John Sercu, Chief Operating Officer of World Health, said, "World Health has undergone dramatic growth in the last year as its strategy of organic growth and expansion by acquisition has paid off. With combined assets of over $100 million, we have instituted new structures and divisions of responsibility to enable us to manage these assets effectively and to continue to operate at optimum capacity." As a result, the Company also announced promotions and additions to its management team that will help the Company manage its expanding operations.

Thomas Scott, CPA, has joined World Health as Vice President of Finance. Mr. Scott recently served as the Chief Financial Officer of a television group affiliated with the NBC and ABC television networks. He previously served in various financial roles with The May Department Stores Company. Prior to that, he worked for Price Waterhouse (now PricewaterhouseCoopers), where he provided auditing and other accounting services to several Fortune 500 companies. Mr. Scott holds a Masters Degree in Accounting and an MBA from Northeastern University.

Glenn Waldron has joined World Health as the Northeast Regional Vice President - Staffing. Mr. Waldron has extensive experience in the staffing industry. Most recently, he owned and operated a healthcare staffing company that focused on physician placements. Prior to that, he spent 3 years with Robert Half, where he was a Branch Manager over multiple staffing divisions.

Kenji Field was promoted to Vice President, Travel Nursing - West. Mr. Field had been in charge of corporate staff production for Pulse Healthcare Staffing, Inc. and joined World Health in May 2004 following World Health's acquisition of Pulse Healthcare. Mr. Field previously served as Director of International Sales at FunMail, located in Pleasanton, California. He also directed corporate recruiting efforts for Softbank, a venture capital firm located in Mountain View, California, and led staffing production on a national level for Hall, Kinion & Associates, Inc., a publicly-held staffing company located in Sacramento, California.

Paul Gunnoe has assumed the role of Vice President, Travel Nursing - East. Mr. Gunnoe joined World Health after holding the position of President/CEO for Travel Nurse Solutions, Inc., a nurse staffing company based in Birmingham, Alabama that World Health acquired in October 2004. Prior to gaining seven years of experience in the healthcare staffing industry, Mr. Gunnoe was a practicing Registered Nurse and provided nursing and consulting services for other staffing firms. He also provided consulting services to hospitals concerning their use of supplemental nurse staffing.

Noal Curley was promoted to Vice President, Travel Allied Health - East. Mr. Curley joined World Health through its June 2004 acquisition of Curley and Associates, LLC, a medical staffing company that Mr. Curley founded in Sanford, Florida. Mr. Curley previously coordinated the organic development of World Health's National Allied Medical Division and, prior to that, was a Senior Manager with Aureus Medical Group, a large, privately owned healthcare staffing firm based in Omaha, Nebraska.

Traci Williams, SPHR, has joined World Health as Vice President, Human Resources. Ms. Williams has over nine years of experience in human resources and staffing, holds a Juris Doctor degree from McGeorge School of Law at the University of the Pacific and is a member of the Washington State Bar. She previously was HR Director for Parker Services, Inc., a staffing company that World Health acquired in December 2004.

World Health Alternatives, Inc. (OTC BB: WHAI) is a premier human resource firm offering specialized healthcare personnel for staffing and consulting needs in the healthcare industry. The Company 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 provides services from locations in Birmingham, AL, Mobile, AL, Citrus Heights, CA, Boca Raton, FL, Sanford, FL, Atlanta, GA, Danvers, MA, Morrisville, NC, Portsmouth, NH, Nashua, NH, Cincinnati, OH, Cleveland, OH, Portland, OR, Murray, UT, Bellevue, WA, and Seattle, WA. Additional information about World Health can be found at the Company's website at www.whstaff.com.

This press release contains forward-looking statements. The words or phrases "would be," "would allow," "intends to," "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "can," "potentially," "should," "believe," "considers," 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 the Company will successfully acquire existing staffing companies to grow its staffing business; (b) whether the Company will have adequate financing to expand the business; (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 clients and qualified nurses and other healthcare professionals and personnel; (e) the Company's ability to locate and fill staffing orders; (f) whether general economic conditions and the regulatory environment will be favorable to the growth of the Company's business, including its vertical integration; (g) the Company's ability to grow organically; (h) whether the promotions and additions to the Company's management team will help the Company manage its expanding operations; (i) whether the Company's strategy of organic growth and expansion by acquisition has paid off and will benefit the Company in the future; (j) whether the new structures and divisions of responsibility instituted at the Company will enable it to manage its assets effectively and to continue to operate at optimum capacity; and (k) 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 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's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.

COPYRIGHT 2005 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning
 

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