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Health Insurance Innovations extends strategic review

Health Insurance Innovations Inc. extended its ongoing strategic review process that may lead to a partial or full sale of the company.

The review could also result in a strategic business combination, changes in operations or strategy, or continuity of the current business plan. The company's board has not set a timetable for completing the strategic review.

BofA Securities is serving as financial adviser, while Weil Gotshal & Manges LLP is the company's legal adviser.

Additionally, Health Insurance Innovations reported preliminary adjusted net income per share of between $2.30 and $2.55 for the fourth quarter of 2019 and $4.10 to $4.35 for fiscal year 2019. The company's total revenues are in a range from $159 million to $164 million for the fourth quarter and $380 million to $385 million for the full year.

Health Insurance Innovations expects to report its fourth-quarter and full-year 2019 results in March.