CHICAGO--(BUSINESS WIRE)--Huron Consulting Group Inc. (NASDAQ: HURN), a leading provider of business consulting services, today announced it has entered into an agreement to acquire Healthcare Services Management, Inc. (HSM), a firm specializing in healthcare information technology and management consulting. When it closes, the acquisition will strengthen Huron’s ability to help healthcare providers implement and optimize technologies that harness data to improve the quality and cost of care and better manage patient populations.
HSM will be a strong complement to Huron’s current IT and electronic health record (EHR) consulting services, adding deep expertise in Cerner, MEDITECH, Allscripts, NextGen and other prevalent systems. Together, Huron and HSM expect to cover virtually the full range of EHR technology solutions.
“As hospitals and health systems continue the transition to value-based care, the drive toward improving cost, quality and the consumer experience is intensifying. To manage this transition, our clients must be able to collect, analyze and leverage patient data across their growing care networks,” said James H. Roth, chief executive officer and president of Huron. “HSM will add new healthcare technology capabilities to our current implementation and optimization services, allowing us to better support clients as they confront their most pressing IT challenges.”
This will be Huron’s fourth acquisition in the past year aimed at helping clients improve performance by aligning their business processes and systems with their financial and operational goals. The acquisitions expand Huron’s offerings and enable the company to continue to take advantage of the rapidly evolving technology landscape.
HSM, based in Quincy, Mass., helps healthcare providers maximize operational efficiencies through the adoption and optimization of IT and enterprise technology solutions. The firm supports information system implementations and conversions, clinical and revenue cycle optimization, informatics strategy, application delivery and interim management. When the transaction closes, HSM’s more than 100 experienced consultants will join Huron, with David Devine, HSM’s chief executive officer, joining as a managing director.
“We are excited to join the Huron team. Combining our businesses will allow us to tailor healthcare IT solutions to each client’s unique business and operational challenges,” Devine said. “Together, Huron and HSM will be able to bring a broader set of solutions to providers and serve a wider range of technology needs.”
For reporting purposes, HSM will be included in the Huron Healthcare segment. Terms of the acquisition, which is expected to close in August 2016, were not disclosed.
About Huron Consulting Group
Huron is a global professional services firm focused on assisting clients with their most complex business issues by delivering high-value, quality solutions to support their long-term strategic objectives. Huron specializes in serving clients in the healthcare, higher education, life sciences, and commercial sectors as these organizations face significant transformational change and regulatory or economic pressures in dynamic market environments. With its deep industry and technical expertise, Huron provides advisory, consulting, technology, and analytic solutions to deliver sustainable and measurable results. Learn more at www.huronconsultinggroup.com.
Statements in this press release 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,” “continues,” or “outlook” or similar expressions. 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 achieving expected benefits from such acquisitions; risks relating to privacy, information security, and related laws and standards; and a general downturn in market conditions. 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, 2015 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.
