By Colin Kellaher

 

Huron Consulting Group Inc. on Tuesday said it agreed to sell its life-sciences business to Oliver Wyman, a unit of Marsh & McLennan Cos., for an undisclosed amount.

Huron, a Chicago professional-services firm, said it plans to concentrate its resources and investments in bolstering the healthcare, education and other businesses in its business-advisory segment.

New York professional-services firm Marsh & McLennan said about 80 professionals, including 12 partners, will join Oliver Wyman's health and life-sciences practice.

Huron said it estimates the life-sciences business accounted for roughly 2% of its total revenue for the first nine months of the year.

The company said it will use proceeds from the sale, which it expects to complete in November, to reduce debt, buy back stock and make tuck-in acquisitions.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

October 05, 2021 10:04 ET (14:04 GMT)

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