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MSSI-TeleScience Establishes a $5 Million Credit Facility With Textron Financial Corporation PR Newswire - July 14, 2005 07:00
VIENNA, Va., July 14, 2005 /PRNewswire-FirstCall via COMTEX/ -- MSSI-TeleScience International, Inc. (OTC Bulletin Board: MSSI), an established provider of medical personnel, technology services and homeland security products to government and commercial clients, has established a $5 million credit facility with Textron Financial Corporation (TFC) to finance the operations of its subsidiaries, Nurses PRN Acquisition Corporation (NPRNAC) and TeleScience International, Inc. (TII).
Dr. Sahay, President and CEO of MSSI, said, "This is a major step for MSSI to secure such a valuable financial relationship. This relationship will not only significantly reduce MSSI's interest costs, but also provide us the credit availability to support our future growth.
David Retallick, President of Systran Financial Services Corporation, a division of Textron Financial, stated, "We are pleased to provide the financing program which enabled MSSI to complete the acquisition of Nurses PRN, and we look forward to working with MSSI in achieving its strategic growth initiatives."
Textron Financial is a diversified commercial finance company with over $8 billion in managed and serviced finance receivables. It has core businesses in Aviation Finance, Asset-Based Lending, Distribution Finance, Golf Finance, Resort Finance, and Structured Capital. Textron Financial also provides financing programs for products manufactured by its parent company, Textron Inc. Additional information about the company is available at http://www.textronfinancial.com .
More information about MSSI-TeleScience International, Inc. may be found at: http://www.telescience.com .
For MSSI-TeleScience inquiries, call 1-800-811-9499 x 131 or e-mail: investmentrelations@telescience.com.
About MSSI-TeleScience
In operation since 1992, MSSI-TeleScience International, Inc. is a provider of long-term medical personnel, homeland security and technology services to federal, state and local government agencies and to the private sector. The company's Medical Services Division has operations in 22 states servicing hospital and medical facilities with a complete range of medical staff, including doctors, nurses and technicians. The company holds multiple long-term contracts, including those with the U.S. Army, the U.S. Department of Health and Human Services and the state of California.
The company's 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.
MSSI-TeleScience International currently has over 200 employees and continues to grow its staff and contracts. For more information, visit the company's website at http://www.telescience.com .
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, market acceptance of our services and changes in our business strategies.
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Mssi 8k'd this info not too long ago. They got great terms for this new financing. This is definetly not the same company it was a few weeks ago.
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