Upcoming AWS Advantage on Tivity Bloom Post-Earnings After-effects
LONDON, UK / ACCESSWIRE / March 9, 2017 / Active Wall St. blog advantage looks at the banderole from Olathe, Kansas based Hooper Holmes, Inc. (NASDAQ: HH) as the Biometric Screening Aggregation appear on March 08, 2017 that is accepting East Greenwich, Rhode Island based Provant Bloom Solutions LLC in an all-stock transaction. Register with us now for your chargeless associates and blog admission at:
One of Hooper Holmes’ competitors aural the Specialized Bloom Casework space, Tivity Health, Inc. (NASDAQ: TVTY), appear on February 24, 2017, its banking after-effects for the fourth division and year concluded December 31, 2016. AWS will be initiating a analysis address on Tivity Bloom in the advancing days.
Today, AWS is announcement its blog advantage on HH; affecting on TVTY. Get all of our chargeless blog advantage and added by beat on the articulation below:
HH is a arch civic bloom accident appraisal provider and offers assorted biometric screening casework and wellness programs appliance the latest technology. Founded in 2001, Provant is a a captivated aggregation that offers customized worksite bloom and abundance strategies and casework to organizations beyond North America.
Sharing his insights on the merger, Henry E. Dubois, CEO of HH said:
“Scale, advance and synergies will actualize a acute banking archetypal and are accustomed to advance operating banknote breeze for our alloyed company. Our approach ally will be accurate by an broadcast adjustment of bounded bloom professionals and absolute barter will accretion admission to an broadcast apartment of alone agenda casework that promote, clue and admeasurement advantageous behaviours and outcome.”
Heather Provino, CEO and Architect of Provant added:
“Combining Hooper’s market-leading analytic casework with Provant’s ability in affiliate service, alone well-being, and avant-garde analytics will deepen accord with our barter and approach partners.”
Details of the transaction
As per the agreement, HH will affair about 10.5 actor new shares to the accustomed owners of Provant for acquisition. Once the alliance is through the alloyed aggregation will accession $3.5million as new disinterestedness capital. Out of this $3.5 million, Provant’s majority actor – Century Disinterestedness Ally has committed $1.75 million. HH has got commitments from its absolute investors for addition $1.6 million. So out of the absolute $3.5 actor of disinterestedness capital, commitments for $3.3 actor are already in place.
SWK Holdings, a specialized accounts aggregation with absorption in the healthcare sector, has agreed to accommodate a appellation accommodation of $6.5 actor to HH to complete the transaction. This appellation accommodation will be for bristles years at LIBOR additional 12.5% interest, which is about 150 abject credibility beneath than HH’s accustomed bulk of credit. HH will alpha the claim of Principal bulk by advantageous the aboriginal instalment in Q1 2019. HH has fabricated arrange with its accustomed lenders to ensure that requisite alive basic is accessible at all times during and afterwards the alliance for bland integration. The adjustment includes amplification of its acclaim ability from $7 actor to $10 actor with accoutrement for acclaim up to $15 actor for high-volume months. At the aing of the merger, the accumulated aggregation is accustomed to accept about $2 actor – $3 actor as banknote in duke and about $10 actor – $12 actor as receivables.
The alliance is accustomed to be accomplished in Q2 2017 accountable to shareholder’s approval and closing conditions.
The Alloyed Entity
The alloyed article will booty on the name and barter as HH and will accept offices at both Olathe, Kansas and East Greenwich, Rhode Island. Post the alliance Henry Dubois will be the new CEO and Heather Provino, the architect and accustomed CEO of Provant, will be the Chief Strategy Officer of the alloyed company. The administration aggregation of the alloyed aggregation will additionally accommodate Provant’s Mark Clermont as the President and HH’s Steven Balthazor as the CFO.
The alloyed company’s Board of Directors will accept seven associates of which three associates will be from HH, three from Provant, and one absolute administrator who is currently the Chairman of HH’s Audit Committee.
Benefits of alliance
The anniversary revenues of the alloyed aggregation for FY16 on a pro-forma abject are accustomed to be $67 million. The alliance has cardinal as able-bodied as banking allowances for both the companies. The alliance will additionally aftereffect in cogent accumulation in agreement of bulk synergies and able organisation structure.
The alliance will aftereffect in one of the better pure-play bloom and wellness companies in the US. It will accompany calm two altered yet assorted businesses as able-bodied as the ability of HH and Provant beneath one umbrella. Since HH and Provant are currently alms broadly altered casework and appropriately there is no overlap of customers. The alliance will actualize in a avant-garde adjustment of bounded and civic healthcare professionals as able-bodied as a abode for avant-garde abstruse bloom solutions. The alliance will advice both companies aggrandize their markets and chump abject by alms avant-garde ambit of casework beneath one roof.
At the aing of trading affair on Wednesday, March 08, 2017, Hooper Holmes’ banal amount jumped 7.04% to end the day at $0.76. A absolute aggregate of 201.28 thousand shares were exchanged during the session, which was aloft the 3-month boilerplate aggregate of 59.66 thousand shares. The banal currently has a bazaar cap of $7.39 million.
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