A major merger agreement recently took place between Huron Consulting Group and Studer Group. The deal was reported to be in the range of $325 million USD as Huron took over Studer. According to StreetInsider‘s article on the merger acquisition, Studer Group is a, “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 by Huron was needed due to the efficient nature in which Studer Group operates. Studer is noted to have ‘Evidence-Based LeadershipSM framework to provide unparalleled leadership and cultural transformation expertise for healthcare provider clients.’ Huron’s CEO is very pleased with the merger since both companies will excel and continue to grow and be leaders in the consulting industry. James H. Roth explained, “Studer Group is the market leader in driving cultural transformation to help hospitals improve performance. The combination of Huron and Studer Group will create the premier professional services firm focused on improving healthcare providers’ clinical, operational, and financial outcomes.”
The deal will be $325 million USD, $323 million will be of cash value and $2 million will be in Huron stocks. The two companies combined in the past 12 months (up to September 2014) just around $905 million USD. Both sides expect to continue this success and grow this stream of revenue by bring two of the top companies in consulting together.
According to StreetInsider, “Together, the combined organization will have more than 1,500 dedicated healthcare professionals working to empower transformation for healthcare providers. The acquisition will also add proprietary, market-leading technology tools that uniquely bolster Huron Healthcare’s core solutions.” With this increase in jobs and market leading technology tools, the two parties expect to truly grow and revolutionize the industry which is medical healthcare consulting.
For full details, please read StreetInsider‘s article.
Also, for more consulting information and updates, please visit Yogesh Joshee‘s official site.