Huron Consulting Group, Chicago, has finalized its deal to acquire healthcare technology consulting firm Vonlay
, Madison, Wis.
Huron announced last month that it would purchase the company, which helps hospitals, health systems and physician practices implement and maintain electronic health-record systems
, with special focus on software marketed by nearby Epic Systems in Verona, Wis. Vonlay's expertise also includes assisting healthcare facilities with meeting requirements for ICD-10 and meaningful use.
Terms of the deal were not disclosed; roughly 130 Vonlay employees are expected to join Huron as part of the acquisition, according to an April news release
Aaron Carlock and Mike Kolpien, both managing directors at Vonlay, and Farhan Ahmad, development director at Vonlay, are also moving over as managing directors in Huron's healthcare consulting division.
Huron Healthcare continues to be the largest segment of Huron Consulting Group. In 2013, Huron Healthcare reported revenues of $358.8 million, which represented 45.5% of the company's total annual revenue of $787.8 million. For the first quarter of 2014, the healthcare consulting segment reported revenues of $107.5 million, or 46.7% of the company's total quarterly revenue of $229.8 million. Huron Healthcare's operating income margin was 39.5% for the year and 47.6% for the just-ended quarter.
Huron stock was trading at about $67.72 Monday morning, about 8.4% higher than when the deal was first announced in late April.Follow Rachel Landen on Twitter: @MHrlanden