Provant Health Announces Review of Strategic Alternatives
EAST GREENWICH, R.I., June 13, 2018 – Hooper Holmes, Inc. d/b/a Provant Health (OTCQX:HPHW) (“Provant Health” or the “Company”), the largest publicly traded, pure-play health and well-being provider in the U.S., today announced that its Board of Directors has initiated a process to evaluate potential strategic alternatives to maximize value. As part of the process, the Board will consider a full range of strategic, operational and financial alternatives, which may include a sale.
Provant Health has retained Raymond James & Associates, Inc. as its financial advisors to assist with the strategic review process, and has retained Foley & Lardner LLP as its legal counsel. In addition, as previously announced, the Company has appointed James Fleet to act as the Chief Restructuring Officer (“CRO”) pursuant to an engagement letter with PMCM, LLC, an affiliate of Phoenix Management Services, LLC.
There can be no assurance that the strategic review process will result in any transaction or strategic alternative, or any assurance as to its outcome or timing. The Company has not set a timetable for completion of the review process and does not intend to disclose developments related to the process unless and until the Board approves a transaction or specific action, or otherwise determines that further disclosure is appropriate or required.
About Provant Health
Hooper Holmes, Inc. d/b/a Provant Health, is a national leader in comprehensive workplace well-being and clinical research support services, with a growing global presence. The company partners with employers and brokers to improve members’ whole-person health and productivity, and to support health care cost management. Provant Health touches millions of lives by delivering customized well-being strategies and services on-site, telephonically and digitally, utilizing advanced data management technology. The company’s innovative platform includes flexible program designs, incentive management, biometric screenings, health coaching and condition management, data analytics, health care advocacy, and a portal that serves as the hub for program activities, benefits, communications, and specialty experts. In addition, Provant Health’s national network of health professionals provides laboratory testing, risk assessment and sample collection services to wellness and disease management companies, employers and brokers, government organizations and academic institutions nationwide. Provant Health will continue in the marketplace for over-the-counter stocks as HPHW (OTCQX:HPHW) www.ProvantHealth.com.
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