Goodwin attorneys advised 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, on its announced agreement to be acquired by Huron Consulting Group Inc., a leading provider of business consulting services. According to terms of the agreement, Huron will purchase Studer for $325 million, paid via $323 million in cash and $2 million in Huron common stock. The acquisition is expected to close in February 2015 and is subject to clearance under Hart-Scott-Rodino and other customary closing conditions.
Studer Group is an outcomes-based healthcare performance improvement firm that works with healthcare organizations in the United States, Canada, Australia and beyond, teaching them how to achieve, sustain, and accelerate exceptional clinical, operational, and financial results. Based in Pensacola, Fla., the company was founded in 2000 and is a 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 is also a recipient of the 2010 Malcolm Baldrige National Quality Award. Studer Group is a JMI Equity portfolio company.
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. Its professionals employ expertise in finance, operations, strategy and technology to provide specialized analyses and customized advice and solutions tailored to address each client's challenges and opportunities. The company provides consulting services to both financially sound and distressed organizations, including healthcare organizations, leading academic institutions, Fortune 500 companies, governmental entities and law firms. Huron is traded on the NASDAQ exchange under ticker “HURN.”
The Goodwin team advising Studer was led by partner Joshua Klatzkin, and included Dennis O’Reilly and Alese Bagdol (corporate), Kelsey Lemaster (tax,) Joel Lehrer (IP), and Scott Webster and Jim Mattus (benefits).
Additional information regarding the transaction is available in the Huron press release.