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Healthaxis and BPO Management Services, Inc. Announce Closing of Merger
Date:12/30/2008

Combined Company, BPO Management Services, Will in Near Term Continue Trading Under the Ticker HAXS

ANAHEIM, Calif., Dec. 30 /PRNewswire-FirstCall/ --Healthaxis Inc. (Nasdaq: HAXS) and BPO Management Services, Inc., "BPOMS", a leading full-service business process outsourcing company focused on serving middle-market enterprises, today jointly announced that their respective stockholders have voted to approve the previously announced merger in which BPOMS will acquire Healthaxis, and the merger has been consummated. As a result of the transaction, Healthaxis is now the Healthcare division of BPOMS, complementing BPOMS' existing operations for Human Resources Outsourcing (HRO) consulting, Enterprise Content Management (ECM), and IT infrastructure outsourcing (ITO). As part of the transaction and effective December 31, 2008, the combined entity will be called BPO Management Services, Inc.

Patrick Dolan, chief executive officer of BPOMS, said, "This merger is a significant win for the stockholders, customers and employees of both BPOMS and Healthaxis. Together, the combined organization has a broad offering that will be attractive to middle market enterprises in this challenging economic environment. We have proven the ability to reduce our customer's total cost of ownership and create tangible value, and we are excited to expand our offerings to include healthcare claims processing. Healthaxis has built a powerful technology solution, and we are eager to begin aggressively cross-selling it to our installed customer base. Similarly, we look forward to offering our other solutions to Healthaxis' existing customer base."

As a result of the transaction, the combined company is projected to have an annual revenue run rate of approximately $50 million, including significant recurring revenue from multi-year contracts. The
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SOURCE BPO Management Services, Inc.; Healthaxis Inc.
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