NEWS OUT BOOM!!! Dallas, Texas , June 17, 2019 (GLOBE NEWSWIRE) -- GEX Management Inc (OTC: GXXM, “GEXM”), a Dallas based management and professional services company, today announced its continued strategic initiatives focused on building a premium staffing and consulting business line complementary to its organic and inorganic growth initiatives.
Sri Vanamali, the Executive Director of GEX Management Inc. said, “As mentioned in our past announcements, GEX is in the process of restructuring and reorganizing its operational and capital infrastructure in a way that is primed to help the company build a solid foundation for growth in 2019 and beyond. “ As part of this renewed strategy, GEX Management has set strategic goals to expand further into areas of higher margin and growth business categories particularly in the space of IT and Management Consulting as well as identify synergistic opportunities in healthcare sector to deliver significant cost rationalization, benefits and integrated staffing solutions to clients and customers alike.
In alignment with this strategy, GEX Management has partnered as a Preferred IT Solutions Supplier to one of the premier Managed Service Providers (MSPs) to Fortune 100 Companies in the Enterprise Technology Consulting and Staffing solutions space. This has resulted in a significant business development pipeline that is projected to generate solid revenue and growth opportunities going forward. Additionally, GEX executed a strategic staffing agreement with a leading Ohio based Healthcare group to deliver staffing, HR management, payroll processing and benefit administration services to the client’s healthcare and clinical practice centers in the mid-west region. Management expects these and other growth opportunities to help the firm achieve strong revenue growth and help move towards higher profitability profiles then in the past by targeting higher margin, lower cost business models and relying on less expensive debt instruments to help reduce the burden across the firm’s capital structure while maximizing efficient use of operating capital.
“The management is committed to continue focusing on improving the balance sheet in the near term while also identifying sustainable long-term growth opportunities through strategic partnerships with established MSPs. Based on efforts related to these partnerships, we have already won 2 new consulting contracts - one with a large Pennsylvania based Investment Management firm and another with a Florida based, global technology firm focused on the travel industry; we expect more contracts and placements to follow over the coming months based on our multi-tiered sales and recruiting strategy as we continue to place quality resources towards these long term opportunities”, said Sri Vanamali.
“These organic growth initiatives are expected to bear fruit over the next few months and begin gaining traction starting Q4 2019 and beyond, as we place more consultants and build towards the strength of our strategic relationships. Additionally, our Corporate Strategy team has developed a structured process to identify, review and close potential synergistic acquisition targets that will be complementary to the GEX Management Business Ecosystem. I am very excited to work with our investors, business partners and service providers to continue the positive momentum despite past challenges and am confident of GEX achieving great long term success with this renewed strategy. We will make further announcements to our investors and shareholders as we make progress with these initiatives”.
AI
