MINNEAPOLIS, Sept. 23 /PRNewswire/ -- Health Fitness Corporation
(OTC Bulletin Board: HFIT) reported today that it completed the sale of two of
its corporate assets, the "Insernhagen Work Systems" and "Preferred Therapy
Providers of America" businesses, on Sept. 22, 1999 to Team Spinnaker for net
proceeds of $1.380 million in cash.
Charles J.B. Mitchell, Jr., acting chief executive officer of Health
Fitness, said, "These sales represent our continuing strategy to improve the
financial strength of Health Fitness by consolidating its assets to focus on
its core business of managing corporate and hospital fitness centers. We have
now divested most of the company's non-strategic assets and will turn all of
our attention on strengthening the core business where Health Fitness has a
solid customer base and a strong market presence."
Health Fitness Corporation of Minneapolis, Minn. manages corporate fitness
centers and hospital-based fitness centers throughout the United States and
provides a wide range of additional preventive health care services to
corporations.
This press release contains forward-looking statements regarding the
company's anticipated future operations and financial condition; these
statements should be read in conjunction with the various factors affecting
the company's operations and financial condition discussed in the Management's
Discussion and Analysis of Financial Condition and Results of Operations
portion of the company's Annual Report on Form 10-K for the year ended
December 31, 1998.
SOURCE Health Fitness Corporation
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Company News On-Call:
http://www.prnewswire.com/comp/000921.html or fax,
800-758-5804, ext. 000921
CONTACT:
Charles Mitchell of Manchester Co.,
612-338-4722, for Health Fitness Corporation
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