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BASKING RIDGE, N.J., May 10 -- Hooper Holmes, Inc. (Amex: HH) today announced the completion of the acquisition of Medical Examination Data, Inc. previously disclosed on April 24, 2001. Medical Examination Data, Inc., a leading full-service provider of health information services for the life and health insurance industry in North Carolina, will be integrated with Hooper's existing business, strengthening the Company's presence in the Southeast region and expanding its core paramedical business. Terms of the agreement were not disclosed.
Jim McNamee, Chairman and Chief Executive Officer, stated, "The completion of this transaction firmly establishes our presence in the Southeast region, a key growth market in the national health and life insurance industry. We are confident that our proven expertise in integrating acquisitions will result in near term operating efficiencies, and we expect this acquisition to be immediately accretive to earnings."
Hooper Holmes, Inc. provides health information services on insurance policy applicants to the life insurance industry. The Company provides these health information services through 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 involved in the Company's business. These forward-looking statements are qualified in their entirety by cautionary statements contained in the Company's Securities and Exchange Commission filings.
Contacts:
Fred Lash, Chief Financial Officer
908-766-5000
Investors - Theresa Vogt or Sarah Torres
Media - Steve DiMattia
all of Morgen-Walke Associates, 212-850-5600
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