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Medical staffing company in healing process.(Commentary)(On Assignment Inc. (Baton Rouge, Louisiana))

Article Excerpt
The once-troubled medical staffing firm On Assignment has filed a shelf registration with the SEC in hopes of generating as much as $125 million for future acquisitions by selling additional stock shares.

On Assignment President and CEO Peter Dameris said it took the step because of signs that the Calabasas company is steadily recovering and will likely need cash to expand.

"We've spent the last two years really fixing up this business," Dameris said. "The next logical step for the company's growth is to do some acquisitions."

The move comes after six lackluster years for On Assignment.

The company last year reported a net loss of $96,000, or $0.00 per share on revenues of $237.9 million, on top of a 2004 net loss of $42.4 million, or $1.68 per share on revenues of $193.6 million.

Those numbers were confounding to many, especially since On Assignment seemed like a business that would be in strong demand amid the biotech boom and as hospitals demanded a higher nurse-to-patient ratio.

Tobey Sommer, an analyst with SunTrust...

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