BASKING RIDGE, N.J.-- May 29, 2009 -- Hooper Holmes (AMEX:HH) today announced that shareholders elected Larry Ferguson and Ronald V. Aprahamian to the Company's Board of Directors, for terms expiring in 2012, at the Company's annual meeting held on May 19. The selection of KPMG LLP, independent registered public accounting firm, to serve as the Company's auditors for the fiscal year ending December 31, 2009 was ratified by a majority of votes cast.
Mr. Aprahamian, age 62, is an investor who has served as a consultant, board member, and CEO in companies engaged in healthcare, computer software, consulting services, and telecommunications industries. He was the founder, Chairman, and CEO of Compucare, Inc., a healthcare computer software and services firm, and he established the consulting and investment firm of Healthcare Ventures. Mr. Aprahamian has been an investor and board member of Sunrise Senior Living, Inc.; an investor and Chairman of the Board of Superior Consultant Holdings Corporations; a Director of First Consulting Group, Inc.; and a Director of Metrocall, Inc., a telecommunications firm. From 1996 to 1999 Mr. Aprahamian served on the board and was Chairman of CHIM organization, an association of the 100 largest healthcare information systems companies, and he continues to play a leadership role in the computerization of healthcare. He holds a business degree with a concentration in Hospital Administration from Michigan State University and performed his residency at the St. Lawrence Hospital in Lansing, Michigan.
Mr. Ferguson, age 59, has more than two decades of senior leadership experience with both private and publicly held information technology companies. He has served as CEO of First Consulting Group, a publicly-traded provider of information technology services and products to health and life sciences organizations. Before joining First Consulting Group, Mr. Ferguson served as Chairman of Daou Systems, a publicly traded provider of consulting and management services to healthcare organizations. Between 1997 and 2002, he served as a Director of Sunquest Information Systems, a publicly traded healthcare information systems company. 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 Atstaff, a privately held healthcare staff scheduling software company, and the University of North Carolina at Charlotte Athletic Foundation. 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 highly value Ron and Larry's commitment to Hooper Holmes and believe that their leadership and healthcare industry experience, coupled with their proven success in growing profitable businesses in the healthcare industry, will provide solid contributions to our company, board and stockholders."
Mr. Aprahamian is the beneficial owner of over 3,000,000 shares of Hooper Holmes.
About Hooper Holmes
Hooper Holmes is the 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 the 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 3.8 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.