TOM'S RIVER, N.J., March 19, 2020 (GLOBE NEWSWIRE) -- Quad M Solutions Inc.’s subsidiary staffing companies, PrimeAxess and OpenAxess provide major medical insurance to the small group employer market and the fast growing ‘gig’ economy markets.
The Company recently signed a joint venture with a national Professional Employer Organization (PEO), INFINITI HR Inc. which has nearly 70,000 employees that will enroll onto Quad M Solutions health plans. Such employees represent the major franchisors in the USA. Through its contract with INFINITI HR the joint venture provides payroll, tax reporting, workers comp where required, COBRA administration, supplemental insurance coverage, wellness and prevention, and other employee benefits on a co- employer basis.
The cost savings obtained from the self-insured major medical insurance program offered are significant. It's estimated that each employee will generate an average $1,000 revenue per month with an estimated twenty percent (20%) operating margin to Quad M Solutions, Inc. Over the past 90 days, we successfully commenced onboarding employees onto both our staffing company and our major medical health program. We expect a strong ramp from April 1, 2020 and through the next 12 months. The company expects to have enrolled from to 5,000 to 7,000 employee lives by the end of June/July 2020. This estimated number of employee lives translates into revenue of nearly $5 million to $7 million per month with an operating profit of $1.0 to $1.4 million per month. Upon enrollment of all of the lives with INFINITI HR, we estimate revenue of nearly $70 million per month with an operating profit of $14.0 million per month.
Mr. Pat Dileo, CEO Of MMMD, said, “Our comprehensive proprietary major medical plan and programs enable employees to take advantage of the best Telephysicans, Telephysical therapists, and Telepsychiatrist operating in the U.S. Such services will support the demands placed on the health system by Covid 19.
“We are among the few comprehensive major medical plans that cover paying for telehealth. The PrimeAxess joint venture with INFINITI HR Inc. will lead the PEO sector and be a prime beneficiary of INFINITI HR 70,000 franchisor clients and their estimated 500,000 plus franchisee employees.
“The Company will continue focusing on independent contractors in the ‘gig’ economy who we expect will demand functional TeleHealth - TeleMedicine programs built-in to their health plans.”
Information on 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.
For Further Information:
Pat Dileo
CEO, Chairman, Quad M Solutions, Inc.
732-423-5520
844-NuAxess