Quad M Solutions (OTC:MMMM) Provides Update on Infiniti HR Client Migration
Quad M Solutions (OTC PINK: MMMM) announced an update on its joint venture with Infiniti HR, focusing on staffing and employee benefits. Despite challenges from the COVID-19 pandemic and technology integration delays, the companies have started quoting new business during the open enrollment period. Quad M expects to add nearly 1,000 new employee lives, generating premium revenue of $1,000/month beginning in December. The company is optimistic about growth opportunities in the emerging gig economy.
- Quad M anticipates adding nearly 1,000 new employee lives, generating approximately $1 million/month in premium revenue starting December.
- The joint venture with Infiniti HR is expected to significantly contribute to Quad M's earnings forecast.
- The company plans to expand its marketing and business opportunities leveraging experiences gained during the pandemic.
- Technology integration issues delayed the migration of client benefits, impacting operational timelines.
Sales and Marketing Started Using Technology Interfaces for Infiniti HR Client Migration
EDGEWATER, NJ / ACCESSWIRE / September 25, 2020 / Quad M Solutions, Inc. (OTC PINK:MMMM) ("Quad M" or the "Company"), a public holding company that offers staffing services and employee benefits such as health plans, HR-human resources, and payroll services, to small and mid-sized group employers, is pleased to provide an update on its joint venture agreement with Infiniti HR, entered into nearly a year ago, to offer the Company's staffing solution, which offers self-insured comprehensive major medical insurance at competitive rates.
Infiniti HR is one of the country's largest Professional Employer Organizations that specializes in servicing corporate franchisors. The Covid-19 pandemic has impacted these businesses and as such it has been a challenging time for all companies which service these franchisors and their employees. In addition to this major force majeure distraction, both Infiniti HR and the Company experienced unforeseen technology integration problems that took considerable time to solve. Infiniti's clients renew their benefits and medical plans generally two times a year, July, and January a period known as open enrollment. The combination of the pandemic's impact and the technology problems delayed our migrating lives as planned and expected. Lessons learned and even more was our working through these events together and it has created more opportunities previously not known. The Company and Infiniti have adjusted and worked through these tribulations and have commenced rapidly quoting for new business during this open enrollment period. The Company anticipates adding at a minimum nearly 1,000 new employee lives averaging new premium revenue at
Pat Dileo, Quad M Solutions' Chief Executive Officer, commented, "Infiniti HR and Quad M Solutions have learned together what they could not have known in advance and we believe the opportunities coming out of the pandemic are immense. It is our belief we are among the first to be able to service the emerging ‘gig economy' of essential workers that will make up the largest sector of the economic recovery for years to come. Given the challenging external economic climate and adapting to each other's work culture our teams have risen to the occasion and we are poised to lead the new era of employee benefits where the employee consumer is the responsible party for their future health and wealth. Over the next two quarters the Company has huge potential to organically grow sales and earnings with or without any mergers and acquisitions. As of this writing, our plans with the recent acquisition of iCan Benefits are on-going and we expect the iCan infrastructure can help accelerate onboarding Infiniti's employees and bring new products to market. I am looking forward to a period of rapid revenue and earnings acceleration throughout 2021 and beyond."
About Quad M Solutions, Inc.
Quad M Solutions, Inc., is a public holding company that offers self-funded health plans, staffing services, HR-human resources, payroll services, retirement, supplemental and workers compensation insurance to small and mid-sized group employers with 1-500 employees, and to the exploding essential worker "Gig Economy," a labor market that is characterized by the prevalence of short-term contracts or freelance work, not permanent jobs. The company's four subsidiaries, NuAxess 2, Inc., PrimeAxess, Inc., OpenAxess, Inc. and PrimeAxess 2, LLC are important in conveying who we are and what we do.
We strive to provide those employers and individuals the right tools to be able to manage and control all the facets in their healthcare experience and their eventual health outcomes. Prevention, wellness, and cures have become part of our corporate mission to individuals who want to manage and control their short and long-term healthcare needs.
Our self-insured programs are consumer-driven and technology-leveraged and, by itself, self-insurance is affordable, transparent and responsive to the healthcare and retirement needs of employees who are looking for higher quality benefits, integrated health information and better medical provider access and outcomes.
For additional information, please visit: QuadMSolutions.com and NuAxess.com.
Forward-Looking Statements:
The statements contained herein that are not historical facts are forward-looking statements within the meaning of the federal securities laws (Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). You can identify such forward-looking statements by the words "expects," "intends," "plans," "projects," "believes," "estimates," "likely," "possibly," "probably," "goal," "opportunity," "objective," "target," "assume," "outlook," "guidance," "predicts," "appears," "indicator" and similar expressions. Forward-looking statements involve a number of risks and uncertainties. In the normal course of business, Quad M Solutions, in an effort to help keep our stockholders and the public informed about our operations, may from time to time issue such forward-looking statements, either orally or in writing. Generally, these statements relate to business plans or strategies, projected or anticipated benefits or other consequences of such plans or strategies, or projections involving anticipated revenues, earnings, profits, pricing, operating expenses or other aspects of operating results. We base the forward-looking statements on our expectations, estimates, and projections at the time such statements are made. These statements are not guarantees of future performance and involve risks and uncertainties that we cannot predict. In addition, we have based many of these forward-looking statements on assumptions about future events that may prove to be inaccurate. The actual results of the future events described in such forward-looking statements could differ materially from those stated in such forward-looking statements.
Corporate Contact:
Pat Dileo
CEO, Chairman, Quad M Solutions, Inc.
P:732-423-5520
P:844-NuAxess
Investors:
IR@QuadMsolutions.com
Investors:
IR@QuadMsolutions.com
SOURCE: Quad M Solutions, Inc.
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https://www.accesswire.com/607773/Quad-M-Solutions-OTCMMMM-Provides-Update-on-Infiniti-HR-Client-Migration
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