Huron Consulting Group Acquires Healthcare Strategy Firm Aegis Advisers Ltd.
Aegis joins Wellspring Partners, a Huron Consulting Group practice
CHICAGO - July 17, 2007 - Huron Consulting Group (NASDAQ: HURN), a leading provider of financial and operational consulting services, announced today the acquisition of Aegis Advisers Ltd., a firm that provides services exclusively to healthcare organizations. The nine-member Aegis Advisers team will be joining Wellspring Partners, Huron's healthcare practice.
"We are very pleased to welcome the Aegis team to Huron," said Gary E. Holdren, chairman and chief executive officer, Huron Consulting Group. "Aegis is well-known in the healthcare field for its strategic planning skills, facility planning expertise and ability to define community demographics to develop and implement strategies that capture market share. This powerful addition to the Huron team will enrich our healthcare service offering and help us better serve our clients."
"Huron is recognized for its focused approach in the legal, educational and healthcare industries," said Scott Hoffman, Aegis Advisers' founding partner. "We have been fortunate to work with Huron's healthcare team on a number of client engagements. It became apparent that the synergy between Huron and Aegis would give our clients greater resources and exposure to industry experts."
Founded in 1997, Aegis Advisers has been working closely with healthcare organizations throughout the United States. The firm's services include strategic management, business planning, organizational development, communications and marketing, and facility/master planning. Two of Aegis' senior managers, Scott Hoffman and Curt Whelan will become managing directors at Huron.
Scott Hoffman's expertise lies in strategic planning. He leads strategic management, business planning, operations planning, organizational planning and financial management engagements for hospitals, healthcare systems, academic health science centers and teaching hospitals, ambulatory diagnostic and treatment centers, specialty hospitals and physician groups.
Curt Whelan is an expert in the area of facility planning. His core competency is integrating and translating market-based demand analysis, operations benchmarking, financial planning, and technological trends into state-of-the-art facility plans. Curt's extensive knowledge of emerging healthcare delivery models, coupled with his functional approach to project management and planning provides the expertise to produce cost-effective solutions.
Terms of the transaction were not disclosed.
About Huron Consulting Group
Huron Consulting Group helps clients effectively address complex challenges that arise in litigation, disputes, investigations, regulatory compliance, procurement, financial distress, and other sources of significant conflict or change. The Company also helps clients deliver superior customer and capital market performance through integrated strategic, operational, and organizational change. Huron provides services to a wide variety of both financially sound and distressed organizations, including Fortune 500 companies, medium-sized businesses, leading academic institutions, healthcare organizations, and the law firms that represent these various organizations. Learn more at www.huronconsultinggroup.com.
Statements in this press release, which are not historical in nature and concern Huron Consulting Group's current expectations about the Company's reported results for 2007 and future results in 2007 are "forward-looking" statements as defined in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by words such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," or "continue." These forward-looking statements reflect our current expectation about our future results, levels of activity, performance or achievements, including without limitation, that our business continues to grow at the current expectations with respect to, among other factors, utilization and billing rates, number of revenue-generating professionals; that we are able to expand our service offerings; that we successfully integrate the businesses we acquire; and that existing market conditions do not change from current expectations. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Therefore you should not place undue reliance on these forward-looking statements. Please see "Risk Factors" in our 2006 annual report on Form 10-K and in other documents we file with the Securities and Exchange Commission for a complete description of the material risks we face.