Merger provides largest pure-play health & well-being ecosystem for enhanced partner success
Strength of the product offering and diversification of distribution channels accelerates innovation for existing customers and growth within business verticals on larger revenue base
Strategic alignment with marketplace evolution is top priority
OLATHE, Kan. and EAST GREENWICH, R.I. - Hooper Holmes, Inc. (OTCQX:HPHW) and Provant Health Solutions, LLC, announced that they have completed their merger, which creates the largest, publicly-traded, pure-play health and well-being companies in the industry. The combination provides a personalized, one-stop programming experience for employers, and our channel and enterprise partners with proven outcomes powered by sophisticated data collection and management.
With a focus on enhancing innovative program delivery while driving operational efficiencies, the combined organization is strategically aligned to deliver key program enhancements including:
- High touch face-to-face well-being experiences powered by a health provider network 20,000-plus strong.
- Sophisticated data management that increases the flexibility of program design.
- Enhanced reporting and data analytics delivering insight into program effectiveness and the resulting impact on population health.
- Optimized coaching experience resulting in both enhanced enrollment averaging 92 percent when on-site coaching is paired with biometric screenings, and clinically significant risk migration for high-risk members transitioning to a lower risk category with validated outcomes.
- Personalized digital member experience allowing the integration of risk analysis, intervention, behavioral economics and analytics.
“The merged company of Hooper Holmes and Provant provides best-in-class clinical services, data management and programming designed to accelerate the success of our partners and clients,” said Henry Dubois, chief executive officer. “The integration between the two companies is moving forward quickly with synergies already being realized in coaching and screening operations yielding benefits for our channel partners and customers.”
By ensuring the combined organization is in strategic alignment with the market, the evolution in consumerism and accelerated innovation while achieving operational synergies, the resulting well-being ecosystem ensures partner success. For more information on how the combined organization can inspire your people and organization by driving an engaged population and outcomes tied to your culture, visit www.provanthealth.com or www.hooperholmes.com.
About Hooper Holmes
Hooper Holmes mobilizes a national network of health professionals to provide on-site health screenings, laboratory testing, risk assessment and sample collection services to wellness and disease management companies, employers and brokers, government organizations and academic institutions nationwide. Under the Accountable Health Solutions brand, the company combines smart technology, healthcare and behavior change expertise to offer comprehensive health and wellness programs that improve health, increase efficiencies and reduce healthcare delivery costs. www.hooperholmes.com
Provant is a leader of comprehensive workplace well-being solutions in North America, with a growing global presence. Founded in 2001, Provant partners with employers to improve employee health and productivity while supporting healthcare cost management. Through a network of 13,000-plus health professionals, Provant touches millions of lives by delivering customized well-being strategies and services on-site, telephonically and digitally utilizing advanced data management. Provant is a privately held company headquartered in East Greenwich, Rhode Island. www.provanthealth.com
For further information:
Henry E. Dubois
Investors: Andrew Berger
S.M. Berger & Company
Investors: Scott Gordon
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements may generally be identified by the use of words such as "anticipate," "believe," "expect," "intends," "plan," and "will" or, in each case, their negative, and other variations or comparable terminology. These forward-looking statements include all statements other than historical facts. Any forward-looking statement in this press release is not a guarantee of future performance, and actual results may differ materially from those expressed in or suggested by the forward-looking statements, as a result of various factors, including, without limitation the factors discussed in the "Risk Factors" section of the company's Annual Report on Form 10-K for the year ended December 31, 2016, as the same may be updated from time-to-time in subsequent filings with the Securities and Exchange Commission. Any forward-looking statement in this press release speaks only as of the date hereof, and the company has no obligation, and does not intend, to update any forward-looking statements after the date hereof, except as required by federal securities laws.