Huron Consulting Group, Chicago, continued its string of acquisitions with purchase of healthcare consultants Stockamp & Associates, Lake Oswego, Ore., for $169 million in cash and $50 million in stock. The deal is the latest to expand Hurons healthcare consulting division, which, combined with education, is the publicly traded company's largest and fastest growing of four segments, said spokeswoman Jennifer Frost Hennagir. The publicly traded company acquired Wellspring Partners in January 2007 and Aegis Advisors in July that year. Huron ranked No. 3 on Modern Healthcares 2007 list of largest healthcare management consulting companies.
Stockamps purchase price may increase, depending on certain performance targets, Huron said. The Oregon consulting firms founder, Dale Stockamp, will join Huron as a consultant. Paul Kohlheim, Stockamps president, will join Huron as a vice president. Stockamp, which was a privately held company, employs 400 and reported cash-basis revenue of $94 million for the year ended March 31, Frost Hennagir said. Huron reported 2007 net income of $41.9 million on revenue of $504.3 million, according to the companys annual report. -- by Melanie Evans