Chicago-based Huron Consulting Group's acquisition of Studer Group, a Pensacola, Fla.-based healthcare consulting firm, for $323 million in cash and $2 million in common stock is now complete.
Studer Group, founded by Quint Studer in 2000, is an outcomes-based healthcare performance improvement firm that includes 235 full-time employees and has worked with more than 750 hospitals. The firm has an 80 percent contract renewal rate and highly diversified client base.
Studer Group will become part of the Huron Healthcare segment, which accounts for more than half of Huron's revenue. Together, the organizations will combine performance improvement and clinical transformation abilities with cultural transformation and evidence-based leadership expertise to strengthen their collective healthcare solutions.
"Our experience working with hospitals and health systems indicates that the key to success is combining a deep focus on operational excellence while optimizing human potential to provide the leadership needed for transformation," Gordon Mountford, executive vice president of Huron Healthcare, said in a statement. "Healthcare providers have invested deeply in technology and analytics, and their leadership teams are now focused on implementing the human side of change. The combination of Huron Healthcare and Studer Group will help our clients navigate all aspects of the transformation process, resulting in improved clinical outcomes and enhanced efficiency."
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