Huron Consulting Group, commonly known as Huron, is an American global management consulting firm offering services to the Healthcare, Life Sciences, Commercial, and Higher Education industries, including academic medical centers, cancer centers and research institutions. In fiscal year ending December 31, 2019, Huron generated $876.8 million in annual revenue, an increase from $795.1 million in 2018. Huron acquired growth strategy consultancy Innosight in 2017. The acquisition enhanced Huron’s capabilities in the areas of strategic growth, innovation and transformation across a wide range of industries.
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. As of 2019, Huron had more than 3,700 employees. In May 2004, Huron filed a registration statement with the Securities and Exchange Commission relating to the initial public offering of its common stock. 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. Huron was named best consulting firm to work for in 2019 by Consulting magazine, receiving this accolade for the 9th year running. The annual Consulting magazine survey was completed by more than 11,000 consultants from 300 firms across the United States. Firms were rated in the areas of culture, compensation and benefits, work-life balance, client engagement, career development and leadership. In 2020, Vault ranked Huron 6th best management consulting firm in the world for healthcare consulting.
On February 2, 2016 Huron acquired MyRounding, a firm specializing in digital health products.
Cloud62
On October 1, 2015 Huron acquired Cloud62, a firm specializing in complex Salesforce.com implementations and related cloud-based applications
Rittman Mead India
On July 1, 2015, Huron acquired the India affiliate of Rittman Mead Consulting Ltd., Rittman Mead India, a data and analytics consulting firm that specializes in the implementation of enterprise performance management and analytics systems.
Studer Group
On Feb. 13, 2015, Huron acquired Studer Group, a professional services firm that consults with healthcare providers on clinical outcomes and financial results.
Sky Analytics
On Jan. 8, 2015, Huron acquired Sky Analytics, a Massachusetts-based provider of legal software for corporate law departments.
On September 20, 2013, Huron acquired Blue Stone International, LLC, a provider of Oracle Corporation professional services. Under the terms of the agreement, Huron will acquire the assets of Blue Stone for $30 million in cash.
Huron acquired Click Commerce, a supplier of software-based applications and professional services to academic medical centers and research institutions. Terms of the acquisition were not disclosed.
Revenue
Financial Restatement
On July 31, 2009, Huron announced that the company would restate its financial statements for 2006, 2007, 2008, and first quarter 2009. That same day, Huron announced the resignation of its chairman of the board and CEO Gary Holdren, CFO Gary Burge, and that Chief Accounting Officer Wayne Lipski would soon be departing. The company also announced that James H. Roth, a founder of the company, would be Huron's new CEO. The following business day - August 3, 2009 - Huron's shares dropped 69 percent to $13.69. 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 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.
