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.
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