BASKING RIDGE, N.J., Dec 10, 2010 -- Hooper Holmes (NYSE Amex:HH) today announced that Tom Watford, President and Chief Operating Officer of Santa Rosa Consulting, has joined the Company's Board of Directors.
"Tom has a unique track record of success in corporate finance, operations and healthcare IT," said Larry Ferguson, Chairman of the Board of Hooper Holmes. "He's going to be a terrific Director, and we're pleased to have the benefit of both his healthcare industry and financial turnaround experience."
"The Board and the management team of Hooper Holmes have made progress in reducing costs, building value and preparing for growth," said Tom Watford. "I'm looking forward to working with and learning from other Board members, contributing to the Company's drive to deliver outstanding service to life insurance clients, and helping Hooper Holmes take full advantage of its health information assets."
Mr. Watford brings over 23 years experience in the healthcare industry, where he has delivered professional and IT services to healthcare providers, health plans and life sciences companies.
As President and Chief Operating Officer of Santa Rosa Consulting, Mr. Watford leads a company that offers an extensive portfolio of solutions that allow healthcare organizations to meet their operational and strategic objectives. Prior to joining Santa Rosa, Mr. Watford served as Chief Financial Officer and Chief Operating Officer of First Consulting Group, Inc., a $300 million NASDAQ listed company serving the healthcare industry.
As Chief Operating Officer of First Consulting, Mr. Watford was responsible for service delivery, infrastructure, and development operations in India and Vietnam. As Chief Financial Officer, he led the financial turnaround of the company and, with the CEO, led the process that resulted in the sale of the firm.
Prior to his tenure at First Consulting, Mr. Watford was an Associate Partner in the Healthcare Practice for Accenture, where he delivered professional and IT services to clients in the healthcare provider and health plan markets.
Mr. Watford earned his M.H.S. in Health Administration, an M.B.A. in Finance and a B.S. in Accounting from the University of Florida.
About Hooper Holmes
Hooper Holmes is a leader in collecting personal health data and transforming it into useful information, enabling customers to take actions that manage or reduce their risks and expenses. As a leading provider of risk assessment services for the insurance industry, Hooper Holmes provides insurers with the widest range of medical exam, data collection, laboratory testing and underwriting services in the industry.
With presence in over 250 markets and a network of thousands of examiners, Hooper Holmes can arrange a medical exam anywhere in the U.S. and deliver the results to its customers. Each year we arrange more medical exams than any other company and process more than three million specimens in our laboratory. We provide a complete service for wellness, disease management, and managed care companies including scheduling support, fulfillment of supplies, blood collection kits, medical screenings, lab testing and data transmission. We underwrite hundreds of thousands of cases annually and complete more than two million telephone interviews.
This press release contains "forward-looking" statements, as such term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the Company's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions. Among the important factors that could cause actual results to differ materially from those expressed in, or implied by, these forward-looking statements are our ability to successfully implement our business strategy; uncertainty as to our working capital requirements over the next 12 to 24 months; our ability to maintain compliance with the financial covenant in our credit facility; our expectations regarding our operating cash flows; and the rate of life insurance application activity. Additional information about these and other factors that could affect the Company's business is set forth in the Company's annual report on Form 10-K for the year ended December 31, 2009, filed with the Securities and Exchange Commission on March 12, 2010. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release to reflect the occurrence of unanticipated events, except as required by law.
Contacts: Hooper Holmes Burt R. Wolder, Senior Vice President 908-953-6249 S.M. Berger & Company Investors: Andrew Berger 216-464-6400