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Hooper Holmes and Provant Health Solutions have agreed to combine in an all-stock transaction which will create one of the largest, pure-play health and wellness companies in the United States.
On a combined basis, 2016 pro-forma annual revenue of the merged company is approximately $67 million, excluding $3.8 million of pass-through gift card revenue at Provant.
“Scale, growth and synergies will create a compelling financial model and are expected to improve operating cash flow for our merged company. Our channel partners will be supported by an expanded network of local health professionals and direct customers will gain access to an expanded suite of personalized digital services that promote, track and measure healthy behaviors and outcomes,” said Henry Dubois, CEO of Hooper Holmes.
Heather Provino, CEO of Provant, added: “Combining Hooper’s market-leading clinical services with Provant’s expertise in member service, personalized well-being and advanced analytics will deepen collaboration with our customers and channel partners.
“Best-in-class, strategic partnerships are essential for capitalizing on the massive opportunity our industry is seeing in order to take advantage of the paradigm shift occurring in consumerism. We believe this powerful combination will drive innovation for our clients and accelerate growth.”
Hooper Holmes, Provant Health Solutions, M&A, US