Huron Consulting Group

Huron Consulting Group Inc.

Type	Public
Traded as	NASDAQ: HURN
Industry	Management consulting Business Advisory Business Performance Management Education Finance Legal Life Sciences Healthcare
Founded	2002
Headquarters	Chicago, Illinois
Area served	Worldwide
Key people	James H. Roth (CEO & President) C. Mark Hussey (COO & CFO & Treasurer)
Revenue	$811.3 million (2014)[1]
Operating income	$123 million (2014)[1]
Net income	$79.1 million (2014)[1]
Total assets	$1.16 billion (2014)[1]
Total equity	$600.6 million (2014)[1]
Number of employees	2,870 (12-31-14)
Website	www.huronconsultinggroup.com

The Huron Consulting Group, founded in 2002, is a global management consulting company offering services in the Healthcare, Education, Life Sciences, Law, and Finance industries. In fiscal year ending December 31, 2014, Huron generated $811.3 million in annual revenue.^[1]

History

Huron was founded in May 2002 in Chicago, Illinois. The company’s initial employees included former consultants from Arthur Andersen, including 25 partners and 250 other professionals. Today Huron has more than 2,800 employees. ^[2]

In May 2004, Huron filed a registration statement with the Securities and Exchange Commission (SEC) relating to the initial public offering of its common stock.^[3] Huron Consulting Group Inc., the holding company, became a public company trading common stock on the NASDAQ Global Select Market exchange under the ticker “HURN” in October 2004.^[4]

Recent Acquisitions

Studer Group

On Feb. 13, 2015, Huron Consulting Group acquired Studer Group, a professional services firm that consults with healthcare providers on clinical outcomes and financial results. ^[5]

Sky Analytics

On Jan. 8, 2015, Huron Consulting Group acquired Sky Analytics, a Massachusetts-based provider of legal software for corporate law departments. ^[6]

Threshold Consulting, Inc.

On Oct. 2, 2014, Huron Consulting Group acquired Threshold Consulting, Inc., a consulting firm that provides customer relationship management consulting, cloud-based software as a service applications, business intelligence solutions and data warehousing.^[7]

Vonlay LLC

On May 5, 2014 Huron acquired Vonlay, LLC, a healthcare technology consulting firm specializing in clinical, administrative and financial system implementation and optimization. ^[8]

Frankel Group

On January 7, 2014 Huron acquired The Frankel Group Associates LLC, a life sciences consulting firm. ^[9]

Blue Stone International

On September 20, 2013, Huron acquired Blue Stone International, LLC, a provider of Oracle Corporation professional services supporting enterprise performance management, information management and business intelligence solutions. Under the terms of the agreement, Huron will acquire the assets of Blue Stone for $30 million in cash. ^[10]

Click Commerce

Huron acquired Click Commerce, a supplier of software-based solutions and professional services to academic medical centers and research institutions. Terms of the acquisition were not disclosed.^[11]

Revenue

2005	$225,960,000[12]
2006	$321,918,000[12]
2007	$547,953,000[12]
2008	$672,176,000[12]
2009	$526,047,000[1]
2010	$515,668,000[1]
2011	$606,314,000[1]
2012	$625,961,000[1]
2013	$720,522,000[1]
2014	$811,332,000[1]

Financial Restatement

On July 31, 2009, Huron announced that the company would restate its financial statements for 2006, 2007, 2008 and first quarter 2009.^[13] In addition the company announced management changes, including the appointment of James H. Roth, a founder of the company, as CEO and the resignation of Gary Holdren as Chairman of the Board and CEO.^[14] As a result, Huron’s shares dropped to $13.69 on August 3, 2009.^[15] The company had reported that shareholders of four Huron business acquisitions, acquired between 2005 and 2007, conditionally redistributed portions of their initial and future acquisition-related payments among themselves and to certain Huron employees without Huron's knowledge or permission. The issue was initially identified by the Chief Accounting Officer/Controller, Wayne Lipski.

On July 19, 2012, Huron announced it has reached a final settlement with the U.S. Securities and Exchange Commission (SEC) resolving the previously disclosed SEC investigation into the Company’s August 2009 restatement of its financial statements for the years ended 2006, 2007 and 2008 and the first quarter of 2009. The Company agreed to the settlement without admitting or denying the SEC’s findings.^[16]

Recognition

• Huron was named one of Consulting magazine’s Best Firms to Work For in 2011,^[17] 2012,^[18] 2013,^[19] and 2014. ^[20]

• Consulting Magazine named Gordon Mountford, executive vice president, Huron Healthcare as one of the Top 25 Most Influential Consultants in 2014.^[21]

• Consulting Magazine named Dr. Andrew Ziskind, managing director and Clinical solutions leader, Huron Healthcare as one of the Top 25 Most Influential Consultants in 2013.^[22]

• Consulting Magazine named James H. Roth, CEO and President, as one of the Top 25 Most Influential Consultants in 2009 and 2011.^[23]

• The Turnaround Management Association (TMA) recognized Huron as one of the winners of the 2013 TMA Turnaround and Transaction of the Year Awards. Huron Financial was honored for its turnaround of Bancroft Bag, Inc.^[24]

• Huron Healthcare was ranked in the top five of Modern Healthcare’s Largest Healthcare Management Consulting Firms for the past seven years.^[25]

• Huron was named a 2013 and 2014 Top Workplace by The Oregonian.^[26][27]

• Huron was named a 2013 and 2014 Top Workplace by the Chicago Tribune.^[28][29]

• Huron Education’s ecrt was selected as a Readers' Choice Top Product by University Business in 2013 and 2015.^[30][31]

• Huron received a perfect score on the 2014 Corporate Equality Index in 2014 and 2015.^[32][33]

• Huron received Consulting magazine’s Excellence in Social & Community Investment Award in 2014.^[34]

References

External links

• Official website