Health Fitness Corp., a once-orphaned company focused on managing corporate fitness-and-wellness programs, has found a parent.
Bloomington-based Health Fitness on Thursday agreed to be acquired for $8.78 per share in cash, or nearly $100 million, by insurance company Trustmark Mutual, the Chicago-based health insurer.
The offer price represents a premium of approximately 22 percent over the Wednesday closing share price of Health Fitness common stock.
Health Fitness will continue to be based in Bloomington and operated by CEO Gregg Lehman, the two-year chief executive who executed the final stage of a several-year turnaround plan that expanded Health Fitness from managing exercise facilities to a larger, multi-faceted corporate partner that provides a bevy of health and wellness programs designed to dampen corporate outlays for higher-cost medical expenses.
NEAL ST. ANTHONY
