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Basking Ridge, NJ, December 15, 1999 - Hooper Holmes, Inc. (AMEX:HH) announced today that it has purchased the exclusive rights to an entire suite of software products known as "TEAM 96"and "TEAM" for its Portamedic division.
In the past, this proprietary software was used by many of Hooper's contract affiliates and will now also be modified in the Company's own, internally developed software. This proprietary software will be used exclusively for case management and billing through Portamedic.
Jim McNamee, Chairman and Chief Executive Officer of Hooper Holmes commented, "The investment of this automated software assures us of having a reliable and tested product for the use of our contract affiliates, many who have been users in the software in the past. More importantly, by acquiring the exclusive rights to these products, we will now have the opportunity to work with those affiliates that may not have had an existing relationship with our Portamedic division."Hooper Holmes, Inc. provides medical and other underwriting information on insurance policy applicants to most companies in the health and life insurance industry. The Company provides health information services through its 200 locations nationwide.
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CONTACT: Fred Lash
Chief Financial Officer
908/766-5000
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