Toms River-based Quad M Solutions, formerly known as Mineral Mountain Mining and Milling, has signed a letter of intent to acquire controlling stake in Meritra Health Group.
The proposed deal will result in Quad M Solutions acquiring a 51% controlling interest in Meritra, an Ohio-based health care company which currently has more than $10 million in gross billings.
“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,” Dr. Naveen Bekkam, CEO and president of Meritra, said.
“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,” Quad M CEO Pat Dileo said. “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.”
Financial terms were not disclosed, however the deal is expected to provide an avenue for Quad M Solutions to grow in the medical staffing industry.