IHR is Expected to Generate Approximately $20 Million in Revenue in 2023
WASHINGTON, D.C., March 13, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- Xalles Holdings Inc. (OTC: XALL), a fintech holding company providing technology and financial services solutions, today announced that it has executed an acquisition agreement with Texas-based InnovationsHR, Inc. (“IHR”) to become a wholly owned subsidiary under Xalles Financial Services Inc.
InnovationsHR is poised to disrupt the Professional Employer Organization (PEO) market. It will soon be the first and only licensed PEO in Texas that can self-insure. In addition, InnovationsHR has partnered with Ovation Health plan, a recognized leader in healthcare innovation. Ovation Health Plan was featured on Advancements TV, hosted by Ted Danson, as the future of healthcare.
InnovationsHR is a technology-driven company based in Kingwood, a suburb of Houston, Texas and is focused on delivering an exceptional customer experience using a completely transparent service model. Unlike other PEOs, employers who work with InnovationsHR can select from a menu of services and know the cost in advance.
IHR is led by Dr. John McCormick, a 22-year Air Force veteran with extensive leadership and management skills in organizations of up to 1,500 personnel in size. Dr. McCormick has a doctorate in Leadership and Management from St. Thomas University, FL, an M.A. in Education Administration from Sam Houston University, TX, a B.S. in Criminal Justice from Park University, MO, and two A.A.S. degrees, one as an Instructor of Technology and Military Science and the other in Security Administration from the Community College of the Air Force.
Part of the IHR acquisition is an option for IHR to acquire 100% ownership of Texas-based USPCPS MSO, LLC, a leading Management Service Organization focused on the healthcare market. USPCPS MSO in turn owns and controls key subsidiary companies. The first is, Alliance MSO, LLC which is a Medical Service Organization that credentials and manages a Physician Network of over 1,000 primary care and medical specialists, for which it negotiates contracts with Medicare Advantage and Commercial insurers to enhance provider reimbursement. The second is, PPC TPA, LLC which is a fully licensed multi-state Third-Party Administrative company which is a delegated claims payor for Medicare Advantage and Commercial insurers. PPC TPA has an on-time payment record of 99.98% of all claims being paid within 30 days and all clean claims paid within 14 days. Finally, International Universal General Agency Inc. (dba: “Innova”) which is a full line licensed Life, Health, Property and Casualty Insurance Agency. Innova is appointed with numerous major insurance carriers and delivers a full range of products to meet customer needs. Through this agency, IHR will be able to provide its customers with any insurance product they require under the menu of services.
“We are thrilled to have Dr. John McCormick and his team, bringing a variety of solutions to the healthcare industry, to now be part of Xalles,” commented Xalles Holdings CEO Thomas Nash. He continued, “Each of the services InnovationsHR offers sets up a financial toll gate for recurring revenue and profit.”
The IHR acquisition is contracted to be completed on or before March 31, 2023.
About Xalles Holdings Inc. (OTC: XALL)
Xalles Holdings Inc. is a holding company that focuses on direct investments in disruptive fintech companies. The company actively seeks acquisition targets in which it can invest and accelerate growth, targeting companies with solid management teams and business models, large total attainable markets (TAM), and lucrative exit opportunities. The company places emphasis on leveraging blockchain and other technologies to provide industry-leading financial reconciliation and auditing solutions, which, over time, will allow for the capture of recurring revenue streams. For more information visit: Xalles.com. To learn more about InnovationsHR visit: InnovationsHR.com
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