May 19, 2010 11:51 ET

MedCAREERS GROUP, Inc. Provides Update of Progress Since Form 10-K Filing

ATLANTA, GA--(Marketwire - May 19, 2010) - MedCAREERS GROUP, Inc. (the "Company") (OTCBB: MCGI) today provided an update of its business plan progress subsequent to its Form 10-K filing and provided an update on certain events. The Form 10-K related to the year ending January 31, 2010 which largely reflects the business activities operated under the prior management of RX Scripted, which was the Company's name prior to the January 7, 2010 name change to MedCAREERS GROUP, Inc. Since that time the Company has embarked on an aggressive growth strategy in the healthcare industry and changed senior management. This growth strategy is based on several announced acquisition targets in the online space, a key strategic alliance that has resulted in an announced letter of intent to acquire a Southeast-based nurse staffing company, and a previously announced financing commitment, the working capital portion of which was funded on May 13, 2010. While we have not completed or finalized any of the previously reported acquisitions to date, we are confident that we are moving towards completing such acquisitions during the second quarter of 2010.

MedCAREERS GROUP, Inc. Chief Executive Officer Bryan Crutchfield added: "We remain confident that we will close the previously announced acquisitions and that such acquisitions will provide the Company revenues. The acquisition pipeline remains extremely strong and we have entered into a promissory note to provide the financing for the previously announced Southeast-based nurse staffing acquisition as well as the ( acquisition which has already been funded, but which acquisition has not closed to date. We are seeing improving trends for nurse staffing services and believe that our growth opportunities in the nurse staffing industry will be significant for the next several years. We are leveraging the strategic alliance agreement with PHP which is expected to increase margins and fuel our long term growth. Due diligence is progressing on the nurse staffing acquisition target which just received a three year renewal on their major client contract which provided over 60% of their revenue during the last year. Additionally, there are other nurse staffing acquisition targets under consideration and we believe that there are significant efficiencies which can be gained through economies of scale through additional acquisitions, which we hope to utilize to boost profitability and create value for Company shareholders.

"We expect the audit on the acquisition to be completed in the next few weeks, which is the only remaining condition to closing that acquisition, at which time we will promptly file our Form 8-K with all required financial and business information regarding the acquisition."


MedCAREERS GROUP, Inc.'s ( mission is to become a leader in the healthcare career arena with a focus on the healthcare professional. MedCAREERS GROUP's goal is to build itself into a complete resource for the healthcare professional with an emphasis and understanding of what healthcare professionals need as a resource to assist them in maximizing their careers. MedCAREERS GROUP aims to be the "go to" place for the healthcare professional community. MedCAREERS GROUP intends to offers easy, comprehensive solutions and information that is exclusively healthcare related.

This press release may contain forward-looking statements, including information about management's view of the Company's future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of the Company, and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents the Company files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on the Company's future results. The forward-looking statements included in this press release are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, the Company undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by the Company.

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