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TOMS RIVER, N.J., July 09, 2019 (GLOBE NEWSWIRE) -- Quad M Solutions, formerly known as Mineral Mountain Mining and Milling, has signed an LOI to acquire controlling stake in Meritra Health Group (“Meritra”) subject to completion of due diligence and audit. The proposed cash and stock deal, if executed, will result in Quad M Solutions acquiring 51% controlling interest of Meritra, an Ohio based health care company resulting in a strong health care focused synergistic platform that is expected to drive significant value to both companies. Meritra currently has over $10 M in gross billings (unaudited) and a strong pipeline of service contracts and potential bolt-on opportunities which are expected to help the company achieve significant growth traction with the help of Quad M’s public platform through strategic growth investments and working capital deployment.
Dr. Naveen Bekkam, Meritra’s President and CEO, stated, "I look forward to working with the Quad M team to help achieve our shared vision of building a strong, national level healthcare and medical staffing platform that will continue to bring significant value to our strategic partners and patient care services in the healthcare community." Quad M CEO, Pat Dileo, stated, "We share Dr. Bekkam’s vision of bringing accessible, affordable and reliable health and patient care services to all communities. We are very excited to work with Meritra in bringing together the necessary operational and capital resources to help achieve this goal."
"Our management team is committed to enhancing shareholder value by building on this incredible platform and we look forward to a very fruitful collaboration with Meritra to achieve significant organic and inorganic growth for Quad M as part of our broader medical staffing focused corporate strategy."
The acquisition is expected to provide an avenue to grow the company in the fast-growing medical staffing industry. One of Quad M’s principal value propositions is to combine high-end staffing personnel with health self-insurance. This acquisition is expected to allow the company to attract and retain the best personnel and dramatically improve the firm’s operating margins through the realized synergies.
About Meritra Health Group
Meritra Health is a Columbus, Ohio based Healthcare Group consisting of standard general practitioners and specialists offices providing primary care, pain management, chiropractic, hospitalist, and urgent care services across Central Ohio.
About Quad M Solutions
Quad M Solutions is an Idaho based, publicly traded, business services platform bringing middle market focused health care platform solutions through integrating medical staffing services with innovative healthcare and captive insurance solutions to communities across the United States.
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.