Quad M Solutions is Entering into Letter of Intent to Acquire iCan Benefit Group
Quad M Solutions (OTC PINK: MMMM) has announced a letter of intent to acquire iCan Benefit Group, which offers enhanced individual and employer benefits. The acquisition aims to leverage iCan's expertise and existing network of nearly 1 million insurance policies to boost Quad M's market presence. With this strategic move, Quad M expects to improve its NuAxess Smart Plan offerings and capitalize on the growing gig economy. The transaction will involve consideration in common stock shares as part of the acquisition terms.
- Strategic acquisition of iCan Benefit Group enhances product offerings.
- Access to nearly 1 million insurance policies opens up cross-selling opportunities.
- Strengthens position in the gig economy, offering tailored employee benefits.
- None.
Huge Cross-Selling Opportunity With Nearly 1 Million Insurance Policies Sold by iCan Benefit Group
EDGEWATER, NJ / ACCESSWIRE / August 12, 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. It has four subsidiaries, NuAxess 2, Inc., PrimeAxess, Inc., OpenAxess, Inc. and PrimeAxess 2, LLC. Quad M is pleased to announce it is entering into a letter of intent ("LOI") to acquire iCan Benefit Group ("iCan"), a provider of improved individual, employer, and employee benefits and affordable insurance and benefit options.
The NuAxess 2, Inc. subsidiary gives employer members access to timely and reliable healthcare information through interactive member engagement programs, enabling them to manage and control their health benefit decisions along with their chosen doctors. NuAxess ‘Smart' Plans don't require coinsurance, medical copays, and costs are transparent to all, and plans permit unrestricted access to any doctor or hospital. Furthermore, the NuAxess Smart Plan has a unique dual deductible feature that includes a Health Savings Account. The Plan is supported by an extensive technology platform of strategic vendor programs operating under a single source administration. The technology and these programs are available 24/7/365 to assist members in making healthcare-related decisions.
The proposed acquisition consideration is for common stock shares in Quad M Solutions, Inc. (OTC PINK:MMMM).
Pat Dileo, Quad M Solutions' Chief Executive Officer, commented, "iCan has created a tremendous technology and management team platform that assists individuals and small employers with information and tools to make smarter decisions in the complicated world of insurance and benefits, and at affordable prices. They expertly simplify the process for members of obtaining needed health and benefit coverage through a system of hands on support and technology. We believe it makes a great strategic fit that bolsters our strategy of providing our proprietary Nuaxess Smart Plan with its HSA, and monetizes the emerging gig economy workers that will drive tremendous profitability."
Mr. Stephen Tucker, iCan Benefit Group's Chief Executive Officer, stated, "Quad M Solutions is ideally situated for moving the small group employer market and gig economy into the self-insured world of employee benefits. We believe our platform and audience will combine well with Quad M and its Nuaxess strategy, as having a self-insured major medical plan to cross-sell that will accelerate future growth of sales and revenue. We look forward to integrating our solutions and experience and we are enthusiastic about the cross-selling opportunities. iCan can bring the potential to monetize this vast community we have built and assembled with 900,000 insurance policies initiated since inception and fast-approaching one million."
Mr. Tucker, continued, "From our early TV direct-to-consumer days, we are poised to dramatically increase our market share with quality products and at lower prices. We launched a Telemedicine platform in 2006 long before the pandemic of 2020, brought advocacy and bundled services in 2007, delivered the first access to Humana"s discounted Rx rates, brought guaranteed coverage benefits and covered preexisting conditions ahead of the industry. We have designed our system as a single source insurance advisory service which is now in huge demand by the American insurance consumer, especially millennials and those businesses that make up the growing gig economy. With approximately 900,000 new policies since inception, we are finally poised to connect consumers with our combined products, major insurance carriers, and exacting services that today's consumers demand and expect. Automated requoting, up to the minute second pricing options, and utilizing predictive analytics from the use of our collected real-time data to accurately quote plan costs to assist customers decision making which they have been asking for the last two decades."
Mr. Tucker, concluded, "Reference based pricing, streamlined coverages, tele-health services, tele-mental and behavioral health, dental and vision have come full circle. By combining Auto, Home, Life, Medical and catastrophic illness protection we can finally lower rates and increase benefits. Retail giants' growth over the decades required logistics that were improved through technology advances, e.g., machine learning, voice recognition, access to real time data, informatics, etc., that when used properly disrupted the status quo players and benefitted the consumers experience. Key to the use of member data is strict confidentiality with full HIPAA compliance. iCan will create access to the best services, lower costs and all in one place providing more quality benefits and removing many of the unwanted middlemen costs. America deserves better healthcare benefits and with Quad M Solutions, iCan is ready to scale its delivery and solutions to a previously struggling marketplace of America's essential workers."
About iCan Benefit Group
Founded in 2004, iCan Benefit Group is a dynamic, customer-centric family of companies successfully serving Americans across the country with access to comprehensive, affordable insurance solutions. As more individuals than ever enter the market looking for individual health insurance options, iCan's Single Insurance Advisor model is the answer for so many, and is uniquely positioned to outperform and grow. iCan Benefit Group has enrolled over 900,000 policies and benefit products since inception across the health, life and property and casualty insurance verticals.
iCan's holistic approach to benefit plan management includes product design and implementation, digital media and marketing, sales and distribution, billing administration, fulfillment, elite service and member advocacy. iCan is poised to offer personalized, preferred and recommended interactions across the customer journey through continued innovation in AI, BI and predictive analytics. iCan focuses on increasing access and utilization of wellness-based initiatives through its full-scale ability to design, implement, market, sell and service custom tailored insurance products for the individual consumer. iCan can deliver the products, carriers, and services our growing customer base needs and demands.
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
SOURCE: Quad M Solutions, Inc.
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FAQ
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