HEALTH FITNESS CORP (OTC:HFIT)
Industry: Services
Health Fitness Corporation (Health Fitness) is a provider of fitness and health management services and programs to corporations, hospitals, communities and universities located in the United States and Canada. The Company has agreements with approximately 157 customers to manage more than 400 fitness and wellness centers, including 233 corporate fitness centers, 61 corporate wellness programs, 12 corporate occupational health programs, 15 hospital, commercial and university-based fitness centers and wellness programs, and 74 corporate sites that do not have full-time staff. On December 23, 2005, Health Fitness acquired all of the capital stock of HealthCalc.Net, Inc., a provider of Web-based fitness, health management and wellness programs to corporations, healthcare organizations, physicians and athletic/fitness centers. Fitness Management Services The Company's fitness management services consist of staffing services and program and consulting services. In staffing services, Health Fitness has agreements with corporations to staff and manage fitness centers that have been developed by these companies for use by employees. Its customers invest the resources to develop and equip these fitness centers, and generally pay for all operating expenses. The Company derives revenue from these services through the reimbursement of staff costs, including wages, taxes and benefits, reimbursement of the cost of liability insurance. It also receives a management fee to cover the cost of regional and corporate support services. Services in the program and consulting category are generally provided at the Company's managed fitness centers and include personal training, weight loss programs, seminars, specialty fitness classes and massage therapy. Health Fitness derives revenue from these programs, typically from the individual fitness center member, on a fee-for-service basis. Within the Company's fitness management consulting practice, companies that are planning new fitness centers employ it to develop floor plan designs, interior design plans, selection and sourcing of fitness equipment and fitness program design. For companies that desire to develop a commercial fitness center, Health Fitness performs an analysis of market potential for the center. Services can include demographic analysis, market analysis and multiple-year financial business plan development. Health Management Services For its staffing services, the Company has agreements with corporations to staff and manage the delivery of health promotion programs, lifestyle counseling services for onsite and remote customer employees, and injury prevention and treatment services. These relationships may or may not involve the management of an on-site fitness center. Health Fitness derives revenue from these services through the reimbursement of staff costs, including wages, taxes and benefits, reimbursement of the cost of liability insurance. It also receives a management fee to cover the cost of regional and corporate support services. On its program and consulting services, the Company offers a menu of products and services to assess the health risks of customer employees, as well as lifestyle programs that target specific health risks. Such services are either internally developed by the Company or are made available through third-party partners, and include paper and Web-based health risk assessments, biometric screenings to assess blood profiles, data collection, management and reporting, and educational literature and programs. It also offers its customers access to the HFC e-Health Platform, an electronic health education and service platform that the Company acquired from HealthCalc. Health Fitness also offers health advisory services to customer employees. Such services can range from interpretation of health risk assessment and screening results, to individualized health improvement coaching support. These services can be delivered face-to-face using its trained staff, or telephonically through qualified partners. Through Health Fitness's
As Of: 10/07 00:00 ET
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