Bright Horizons
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| NYSE: BFAM Russell 1000 Component | |
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Bright Horizons (NYSE: BFAM) is a United States–based child-care provider and is the largest provider of employer-sponsored child care.[1] It also provides back-up child care and elder care, tuition program management, education advising, and student loan repayment programs.
It is headquartered in Watertown, Massachusetts.
History
Bright Horizons Children's Centers, Inc. was founded in 1986 by Linda A. Mason and Roger H. Brown.[2] Mason and Brown's Cambridge home was used as the company headquarters.
In 1987, the first two Bright Horizons child care centers were opened at the Prudential Center in Boston and at One Kendall Square in Cambridge, both on the same day.
After acquiring Cornerstone West, Bright Horizons expands to California in 1993.
Founders Roger Brown and Linda Mason were named “Entrepreneur of the Year” by Ernst & Young in 1996[3].
In 1997, the company conducts a successful IPO and goes public as BRHZ[4].
Bright Horizons and Corporate Family Solutions merged in 1998 to form Bright Horizons Family Solutions, and changed their NASDAQ ticker symbol from BRHZ to BFAM[5] . The company is named to FORTUNE Magazine’s list of the “100 Best Companies to Work for in America” for the first time[6], and would go on to make the list a total of 18 times between 1998 and 2019[7].
In 2000, the company moved its headquarters to Watertown, Massachusetts. That year, London-based Nurseryworks and Dublin-based Circle of Friends become part of the Bright Horizons family, making it a global company.
The 500th center opened in 2003 – the Child Care Center at Citibank Service Center in San Antonio, Texas[8].
Bright Horizons began offering center-based back-up child care in 1992 with the first standalone back-up child care center for Chase Manhattan Bank[9]. In 2006, the Back-Up Care Advantage program was established[10] to provide in-home back-up child, and elder care.
In 2006, college advising company College Coach was acquired by Bright Horizons[11]. College Coach founder and CEO Stephen Kramer joins the Bright Horizons executive team. Kramer becomes CEO of Bright Horizons in 2018.
In 2008, the company returned to its roots as a private company in partnership with Bain Capital[12].
In 2010, the company launched EdAssist, a tuition advisory service.
Bright Horizons acquired kidsunlimited in April 2013, which included 64 nurseries.
Bright Horizons bought out the Asquith Court Group in 2016 adding a further 100 nurseries to its care.
In 2000, Mary Ann Tocio was named President and Chief Operating Officer of BH. She retired in July 2015 and remains on the Board of Directors. Today, the company’s internal training platform – Mary Ann Tocio University (MATU) – is named after her.
David Lissy served for 17 years as Chief Executive Officer beginning in 2002. He became Executive Chairman in January 2018. During his tenure as CEO, he was responsible for the company’s international expansion.[13]
Activity
Bright Horizons operates more than 1,000 child care centers worldwide, including more than 700 in the United States and Canada, more than 300 in the UK and Netherlands[14] and two in India. Bright Horizons employs over 30,000 people. [15]
Bright Horizons Foundation for Children
In 1988, the Horizons Initiative was founded to serve the needs of homeless children throughout Greater Boston.
In 1999, the Bright Horizons Foundation for Children was formed. Through the Foundation, Bright Horizons supports nonprofit organizations with a focus on programs for children and families. The Foundation is headquartered in Newton, Mass. Bright Spaces, the Foundation's main program, creates play rooms for children in crisis located in nonprofit and community agencies.
References
- ^ Child Care Information Exchange
- ^ "Executive Team". Bright Horizons Family Services. Archived from the original on 2007-01-09. Retrieved 2007-01-12.
- ^ "EY Entrepreneur Of The Year, New England past national award recipients".
- ^ "BRIGHT HORIZONS INC (BRHZ) IPO".
- ^ "CorporateFamily Solutions, Inc".
- ^ "The 100 Best Companies To Work For In America".
- ^ "100 Best Companies to Work For 2019".
- ^ "Citibank set to open child care center in San Antonio".
- ^ "Chase will give local employees new option for back-up child care".
- ^ "Bright Horizons Launches Back-Up Care Advantage".
- ^ "Bright Horizons Family Solutions Acquires College Coach".
- ^ "Bain Capital to buy Bright Horizons for $1.3 bln".
- ^ "Ithica College Board of Trustees".
- ^ "About Us". Bright Horizons. Retrieved 2018-03-13.
- ^ Bright Horizons Named one of the 2019 Best Workplaces for Women by FORTUNE
External links
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