MINNEAPOLIS -- Trustmark Mutual Holding Co. will acquire Health Fitness Corp. for approximately $97 million.
On Tuesday, Trustmark filed a tender offer statement with the Securities and Exchange Commission. The tender offer will expire at midnight on Feb. 24.
Once the tender offer has closed, shareholders of Health Fitness will receive $8.78 in cash for each share of Health Fitness common stock tendered in the offer, without interest and taxes. Health Fitness, a provider of employee health improvement services to Fortune 500 companies, the health care industry and individual consumers, will operate as a stand-alone business reporting through Trustmark.
The Health Fitness board of directors has unanimously approved the merger agreement.
“When Trustmark approached Health Fitness, it was immediately evident they had put a great deal of thought and research into their total population health strategy, and that the goals and cultures of the two companies align nicely,” Gregg Lehman, Health Fitness president and CEO, said in a statement. “We have developed a great platform at Health Fitness, and our history of growth in the health management market gives us confidence that our success will continue when we join the Trustmark family.”