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BASKING RIDGE, N.J., Dec. 12, 2002 -- Hooper Holmes, Inc. (Amex:HH) today announced that it has created a new Health Information Business Unit which encompasses all of the Company's health information business segments in order to capitalize on emerging trends in the life insurance industry while providing customers with a higher level of service.
The Health Information Business Unit includes Portamedic, Infolink and Heritage Labs and will be run by Alexander (Sandy) Warren, formerly the Regional Manager of the Company's Western Region. Mr. Warren will assume the new position of Senior Vice President, General Manager of the Health Information Business Unit, effective immediately, reporting directly to Mr. McNamee. Following the formation of this business segment, the Company is structured around two central operating units: the core Health Information Business Unit, and the Diversified Business Unit.
Jim McNamee, Chairman and Chief Executive Officer of Hooper Holmes commented, "Under the direction of Sandy Warren, this unit creates a more streamlined and efficient infrastructure for our Portamedic, Infolink and Heritage Labs divisions. By combining all three health information divisions into one vertically integrated operating unit, we can provide our customers with enhanced connectivity and ease of access for their health information services needs."
Mr. McNamee continued, "This follows the recent formation of the Diversified Business Unit (DBU). Our refined structure not only provides prudent diversification but also strengthens our focus and creates heightened accountability for improved operating results."
Mr. Warren, age 56, has been with Hooper Holmes for 21 years, holding positions of increasing responsibility primarily in Portamedic operations. Prior to working with the Company, Mr. Warren was Executive Director at Peralta Service Corporation. Mr. Warren received a Masters of Business Administration in Finance from Columbia University and a Bachelor of Science degree from the University of Pittsburgh.
Additionally, Glenn Poker has been appointed as Regional Manager of the Northern Region replacing Steve Kariotis who had recently been promoted to run the Company's Diversified Business Unit. Kathy Biber will replace Mr. Warren as Regional Manager of the Western Region.
Mr. McNamee concluded, "These changes will enable Hooper to enhance customer service, maximize internal coordination and communication and develop new, aggressive strategies necessary for sustained growth."
Hooper Holmes, Inc. provides health and other underwriting information on insurance policy applicants to the life insurance industry. The Company provides these health information services though over 300 locations nationwide.
Certain information contained herein includes information that is forward-looking. The matters referred to in forward-looking statements may be affected by the risks and uncertainties involving the Company's business. These forward-looking statements are qualified in the entirety by cautionary statements contained in the Company's Securities and Exchange Commission filings. The Company disclaims any obligation to update these forward-looking statements.
Contacts:
Hooper Holmes, Inc.
Fred Lash, Chief Financial Officer
908-766-5000
FD Morgen-Walke
Investors - Lauren Levine or Lanie Fladell
Media - Sean Leous
212-850-5600
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