Mergers and Acquistions News
Categories: BPO
January 8th 2009, 15:36PM
Shareholders of BPO Management Services (BPOMS) and Healthaxis have voted to approve a previously announced merger.
The deal sees BPOMS acquire Healthaxis which now becomes its healthcare division.
According to Patrick Dolan, the firm's chief executive officer, the deal will complement its existing operations in IT infrastructure, human resources and enterprise content management outsourcing.
He said: "Together, the combined organisation has a broad offering that will be attractive to middle market enterprises in this challenging economic environment."
The new partnership will allow the firm to reduce costs further and the combined company is expected to have a revenue run rate of around $50 million (£33 million).
John Carradine, the former Healthaxis boss, stated the company was "excited" to have completed the deal to become part of BPOMS.
BMPOS floated on the NASDAQ Capital Market exchange in 2006.
In 2007, it made three acquisitions, including the addition of Blue Hill Data Services to its IT unit.
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