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BASKING RIDGE, N.J.--Hooper Holmes (NYSE Amex:HH) today announced that its Board of Directors has elected Larry R. Ferguson Chairman of the Board effective July 28, 2009. Mr. Ferguson, age 59, was elected to the Board on May 19, 2009 and serves as a member of the Compensation and Audit committees.
Mr. Ferguson has almost thirty years of senior leadership experience with both private and publicly held information technology companies. He has held sales and senior management positions with Xerox, Baxter International, American Express and First Data Corporation. As President of First Data Health Systems Corporation and its predecessor companies, Mr. Ferguson led the growth of one of the world’s largest healthcare information technology companies.
Mr. Ferguson is President of the Ferguson Group, a private equity investment and consulting firm which renders advisory services to information technology companies. He is also a Director of Accelrys, Inc., a publicly traded life sciences software company; a Trustee of the University of North Carolina at Charlotte Athletic Foundation; and a Director of Atstaff, a privately held healthcare staff scheduling software company. Mr. Ferguson holds a B.A. in Business administration from the University of North Carolina at Charlotte.
Roy H. Bubbs, President and CEO of Hooper Holmes, commented, "We are very pleased to have Larry step into the Chairman position. He not only has a deep operational understanding of healthcare information technology companies, but has led significant shareholder value creation as a manager or active board member of several companies. Under his leadership, our Board will continue to play an integral part in the future growth of Hooper Holmes."
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 over 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, 2008, filed with the Securities and Exchange Commission on March 16, 2009. 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
Roy H. Bubbs, President and Chief Executive Officer
908-766-5000
S.M. Berger & Company
Investors:
Andrew Berger
216-464-6400
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