BASKING RIDGE, N.J., Mar 17, 2011 -- Hooper Holmes announced today that Chris Behling, President of Hooper Holmes' Health & Wellness service line, has resigned from the Company to accept a healthcare leadership position with another firm.
"We've come a long way since Chris helped launched our Health & Wellness service line in February 2007 and we wish him the very best in his new endeavors," said Ransom J. Parker, President and CEO of Hooper Holmes. "He has accepted an exciting opportunity with a firm that is not a current customer or competitor of Hooper Holmes."
"We are confident in our Health & Wellness team, and in its position in the market," said Ransom Parker. "We expect continued double-digit revenue growth in our Health & Wellness service line, and we are now recruiting experienced, market-oriented, highly educated candidates to lead the next phase of expansion. We expect to have this position filled within the next few months."
Chris Behling, President of Hooper Holmes' Health & Wellness, stated: "I am very proud of the milestones our team has accomplished over the past four years. From a small beginning, we now have a business that screened over 275,000 participants in 2010 -- a 30% increase over the prior year. Today, we provide screenings in all 50 states for 60 wellness, disease management and clinical research customers, through more than 2,300 certified, local health professionals. With the leadership now in place, I truly believe that Hooper Holmes is positioned to capitalize on the promise we have all worked so hard to realize. I wish everyone at the company well."
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. With presence in hundreds of 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.
Hooper Holmes has four service lines. Portamedic provides a wide range of medical exam services nationwide. Heritage Labs tests millions of samples annually and helps life insurers improve underwriting performance by better applying the predictive powers of today's tests. Health & Wellness provides 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. Hooper Holmes Services reduces the insurance sales cycle through integrated data collection, tele-interviewing and underwriting services.
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; our working capital requirements over the next 12 to 24 months; our ability to maintain compliance with the financial covenant in our credit facility; the level of our liquidity; operating cash flows; customer and creditor concerns about our financial health; 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, 2010, filed with the Securities and Exchange Commission on March 14, 2011. 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 or Investors: S.M. Berger & Company Andrew Berger, 216-464-6400