Huron Consulting Group Inc. (NASDAQ: HURN), a leading provider
of business consulting services, today announced that the Company
completed its acquisition of Studer Group®, a premier professional
services firm that assists healthcare providers achieve cultural
transformation to deliver and sustain exceptional improvement in
clinical outcomes and financial results.
The acquisition combines Huron Healthcare’s performance
improvement and clinical transformation capabilities with Studer
Group’s Evidence-Based LeadershipSM framework to provide
unparalleled leadership and cultural transformation expertise for
healthcare provider clients. The acquisition also adds proprietary,
market-leading technology tools that will uniquely bolster Huron
Healthcare’s core solutions.
Studer Group was founded in 2000 and is the recognized market
leader in healthcare cultural transformation. The firm has
approximately 235 full-time employees, including more than 70
coaches, with substantial industry experience serving more than 750
partner hospitals. Studer Group partners with clients to establish
specific clinical, operational, and financial targets and
implements its cultural transformation methodology to help clients
meet and exceed those stated targets.
The acquisition creates a combined team of more than 1,500
dedicated healthcare professionals providing services to a broader
range of hospitals. For reporting purposes, Studer Group will be
included in the Huron Healthcare segment, which currently accounts
for more than 50% of Huron’s overall revenue.
For more information, please read the press release announcing
the Studer Group acquisition here.
About Huron Healthcare
Huron Healthcare is the premier provider of performance
improvement and clinical transformation solutions for hospitals and
health systems. By partnering with clients, Huron delivers
solutions that improve quality, increase revenue, reduce expenses,
and enhance physician, patient, and employee satisfaction across
the healthcare enterprise. Clients include leading national and
regional integrated healthcare systems, academic medical centers,
community hospitals, and physician practices. Modern
Healthcare ranked Huron Healthcare third on its 2014 list of
the largest healthcare management consulting firms. Learn more
at http://www.huronconsultinggroup.com/healthcare or follow us
on Twitter: @Huron.
About Huron Consulting Group
Huron Consulting Group helps clients in diverse industries
improve performance, transform the enterprise, reduce costs,
leverage technology, process and review large amounts of complex
data, address regulatory changes, recover from distress and
stimulate growth. Our professionals employ their expertise in
finance, operations, strategy and technology to provide our clients
with specialized analyses and customized advice and solutions that
are tailored to address each client's particular challenges and
opportunities to deliver sustainable and measurable results. The
Company provides consulting services to a wide variety of both
financially sound and distressed organizations, including
healthcare organizations, leading academic institutions, Fortune
500 companies, governmental entities and law firms. Huron has
worked with more than 425 health systems, hospitals, and academic
medical centers; more than 400 corporate general counsel; and more
than 350 universities and research institutions. Learn more at
http://www.huronconsultinggroup.com/.
About Studer Group
A recipient of the 2010 Malcolm Baldrige National Quality Award,
Studer Group is an outcomes-based healthcare performance
improvement firm that works with healthcare organizations in the
United States and Canada, teaching them how to achieve, sustain,
and accelerate exceptional clinical, operational, and financial
results. Working together, they help to get the foundation right so
organizations can build a sustainable culture that promotes
accountability, fosters innovation, and consistently delivers a
great patient experience and the best quality outcomes over time.
To learn more about Studer Group, visit studergroup.com.
Statements in this press release, including the information
incorporated by reference herein, that are not historical in
nature, including those concerning the Company’s current
expectations about its future requirements and needs, are
“forward-looking” statements as defined in Section 21E of the
Securities Exchange Act of 1934, as amended, and the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are identified by words such as “may,” “should,”
“expects,” “provides,” “anticipates,” “assumes,” “can,” “will,”
“meets,” “could,” “likely,” “intends,” “might,” “predicts,”
“seeks,” “would,” “believes,” “estimates,” “plans” or
“continues.”
These forward-looking statements reflect our current
expectations about our future requirements and needs, results,
levels of activity, performance, or achievements. Some of the
factors that could cause actual results to differ materially from
the forward-looking statements contained herein include, without
limitation: failure to achieve expected utilization rates, billing
rates and the number of revenue-generating professionals; inability
to expand or adjust our service offerings in response to market
demands; our dependence on renewal of client-based services;
dependence on new business and retention of current clients and
qualified personnel; failure to maintain third-party provider
relationships and strategic alliances; inability to license
technology to and from third parties; the impairment of goodwill;
various factors related to income and other taxes; difficulties in
successfully integrating the businesses we acquire; and a general
downturn in market conditions. With respect to our acquisition of
Studer Group, additional factors that could cause actual results to
differ materially from those indicated or implied by the
forward-looking statements include, among others: our ability to
successfully integrate Studer Group and to achieve expected
benefits; failure to retain employees of Studer Group; the
disruption of management's attention from our ongoing business
operations due to the acquisition of Studer Group; changes in the
financial condition of the healthcare industry or higher education
industry that Studer Group serves; risks associated with Studer
Group's software offerings, tools and consulting services; and
risks relating to privacy, information security, and other
healthcare-related laws and standards.
These forward-looking statements involve known and unknown
risks, uncertainties and other factors, including, among others,
those described under “Item 1A. Risk Factors” in our Annual Report
on Form 10-K for the year ended December 31, 2013, and under “Item
1A. Risk Factors” in our Quarterly Report on Form 10-Q for the
quarter ended September 30, 2014 that may cause actual results,
levels of activity, performance or achievements to be materially
different from any anticipated results, levels of activity,
performance or achievements expressed or implied by these
forward-looking statements. We disclaim any obligation to update or
revise any forward-looking statements as a result of new
information or future events, or for any other reason.
Huron Consulting GroupMedia Contact:Jennifer Frost
Hennagir312-880-3260jfrost-hennagir@huronconsultinggroup.comorInvestor
Contact:C. Mark HusseyorEllen
Wong312-583-8722investor@huronconsultinggroup.com
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