BPO Management Services, Healthaxis combine in reverse merger

By Lisa Kerner

Charlotte, N.C., Dec. 31 - BPO Management Services, Inc. completed its acquisition of Healthaxis Inc. after Healthaxis shareholders approved the transaction on Dec. 29.

Healthaxis is now the health-care division of BPO and will be lead by former Healthaxis chief executive officer John M. Carradine.

BPO said it has not met the initial listing standards of the Nasdaq Capital Market for continued listing of its common stock on Nasdaq. However, BPO expects to request a hearing during which time the stock may continue to trade, the release said.

As previously reported, Healthaxis agreed to become the health-care division of BPO through a reverse merger between the two companies, with each share of BPO common stock exchanged for 0.3393 shares of Healthaxis common stock.

Healthaxis is a provider of health-care payer solutions located in Irving, Texas.

Based in Anaheim, Calif., BPO is a provider of business process outsourcing services focused on on-demand human resources, information technology, enterprise content management and finance support.

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