Huron Consulting Group

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Huron Consulting Group Inc.
Type Public
Traded as NASDAQHURN
Industry Management consulting
Business Advisory
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 $720.5 million (2013)[1]
Operating income $119.9 million (2013)[1]
Net income $66.5 million (2013)[1]
Total assets $885.6 million (2013)[1]
Total equity $530.2 million (2013)[1]
Employees 2,596 (12-31-13)
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, 2013, Huron generated $720.5 million in annual revenue.[1]

History[edit]

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 2,500 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[edit]

Click Commerce[edit]

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.[5]

Blue Stone International[edit]

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. [6]

Frankel Group[edit]

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

Vonlay LLC[edit]

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

Revenue[edit]

2005 $225,960,000[9]
2006 $321,918,000[9]
2007 $547,953,000[9]
2008 $672,176,000[9]
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]

Financial Restatement[edit]

On July 31, 2009, Huron announced that the company would restate its financial statements for 2006, 2007, 2008 and first quarter 2009.[10] 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.[11] As a result, Huron’s shares dropped to $13.69 on August 3, 2009.[12]

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.[13]

Recognition[edit]

  • Huron was named one of Consulting magazine’s Best Firms to Work For in 2011,[14] 2012[15] and 2013.[16]
  • Consulting Magazine named Gordon Mountford, executive vice president, Huron Healthcare as one of the Top 25 Most Influential Consultants in 2014.[17]
  • 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.[18]
  • Consulting Magazine named James H. Roth, CEO and President, as one of the Top 25 Most Influential Consultants in 2009 and 2011.[19]
  • 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.[20]
  • Huron Healthcare was ranked in the top five of Modern Healthcare’s Largest Healthcare Management Consulting Firms for the past six years.[21]
  • Huron Education’s ecrt was selected as a Top Product by University Business.[24]
  • Huron received a perfect score on the 2014 Corporate Equality Index.[25]

References[edit]

  1. ^ a b c d e f g h i j k "HURON CONSULTING GROUP INC 10-K". SEC. Retrieved 2014-05-23. 
  2. ^ "275 Andersen employees resign to create own firm". Chicago Tribune. Retrieved 2014-06-26. 
  3. ^ "Huron Consulting files for $100M IPO". Boston Business Journal. Retrieved 2014-06-26. 
  4. ^ "Huron Consulting IPO takes flight". MarketWatch. Retrieved 2014-06-26. 
  5. ^ "Huron Consulting Group Acquires Click Commerce". Click Commerce acquisition added. Retrieved 8 November 2010. 
  6. ^ "Huron Consulting to buy Blue Stone; adding 100 to staff". Chicago Business Journal. Retrieved 2014-06-26. 
  7. ^ "Huron Consulting to acquire Frankel Group". Chicago Business Journal. Retrieved 2014-06-26. 
  8. ^ "Huron completes acquisition of health IT firm Vonlay". Modern Healthcare. Retrieved 2014-06-26. 
  9. ^ a b c d "HURON CONSULTING GROUP INC Income Statement". DailyFinance. Retrieved 2010-10-22. 
  10. ^ "Huron Consulting to restate financial reports; shares tumble". MarketWatch. Retrieved 2014-06-26. 
  11. ^ "Huron CEO, CFO quit as restatements slash profits". Bloomberg. Retrieved 2010-10-22. 
  12. ^ "Huron Drops on Restatement Plans, Chief’s Resignation". Bloomberg. Retrieved 2010-10-22. 
  13. ^ "SEC Charges Chicago-Based Consulting Firm and Executives With Accounting Violations". U.S. Securities and Exchange Commission. Retrieved 2014-06-26. 
  14. ^ "The 2011 Best Firms to Work For". Consulting Magazine. Retrieved 2014-06-26. 
  15. ^ "The 2012 Best Firms to Work For". Consulting Magazine. Retrieved 2014-06-26. 
  16. ^ "The 2013 Best Firms to Work For". Consulting Magazine. Retrieved 2014-06-26. 
  17. ^ "The Top 25 Consultants 2014: Gordon Mountford". Consulting Magazine. Retrieved 2014-06-26. 
  18. ^ "Top 25 Consultants, 2013". Consulting Magazine. Retrieved 2014-06-26. 
  19. ^ "The 2011 Top 25 Consultants: Jim Roth". Consulting Magazine. Retrieved 2014-06-26. 
  20. ^ "2013 TMA Turnaround and Transaction of the Year Award Winners Announced". Turnaround Management Association. Retrieved 2014-06-26. 
  21. ^ "Largest Healthcare Consulting Firms 2013". Modern Healthcare via Huron Consulting Group. Retrieved 2014-06-26. 
  22. ^ "Top Work Places". The Oregonian. Retrieved 2014-06-26. 
  23. ^ "Chicago’s Top Workplaces 2013: The Winners". Chicago Tribune. Retrieved 2014-06-26. 
  24. ^ "Readers' Choice Top Products". University Business. Retrieved 2014-06-26. 
  25. ^ "Corporate Equality Index 2014". Human Rights Campaign Foundation. Retrieved 2014-06-26. 

External links[edit]