MINNEAPOLIS, Sept. 30 /PRNewswire/ -- Health Fitness Corporation
(OTC Bulletin Board: HFIT) announced today that it has retained Manchester
Companies, Inc. to explore strategic options for the company which include a
merger, partnership with another company, or the potential sale of the
company.
Manchester, headquartered in Minneapolis, is an investment banking and
organizational renewal firm specializing in small and middle-sized company
transactions. Manchester was retained by Health Fitness in April 1999 to
restructure the company's operations and divest of its corporate assets with a
strategic focus outside of the company's core business.
"Manchester has done an excellent job of helping Health Fitness re-focus
on its core business of managing corporate and hospital fitness centers,
reduce expenses, divest of its non-strategic assets, and substantially reduce
its debt," said James A. Bernards, chairman of the board. "With these goals
now accomplished, a window of opportunity exists for Health Fitness to explore
all options available to the company and to its shareholders," he added.
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:
Tana DeBoer of Manchester Companies,
612-338-4722
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