A business support services company it will be getting control over a health plan support services company through a reverse merger.
BPO Management Services Inc., Anaheim, Calif., and Healthaxis Inc., Irving, Texas, have agreed that BPO will acquire Healthaxis through a stock swap, the companies say.
BPO shareholders would end up with 80% of the combined company, and Healthaxis shareholders would end up with a 20% stake, the companies say.
The combined companies appear to have a current combined market capitalization value of about $5.1 million
The combined company, which would operate as BPO Management Services Inc., would have about $50 million in annual revenue, 350 employees, 400 customers, and operations in Canada, Jamaica, India and Russia as well as in the United States, according to BPO and Healthaxis.
Patrick Dolan, the current chairman of BPO, would be chairman and chief executive of the combined company.
The companies hope to complete the deal by Dec. 31.