Huron Consulting Group Inc. (HURN) continues to boost its life science portfolio with an aim to capture greater market share. It recently entered into an agreement to acquire the assets of The Frankel Group Associates LLC – a leading life sciences consulting firm for an undisclosed amount. The acquisition is expected to close in early Jan 2014 with 50 Frankel Group professionals joining the Huron Life Sciences team. With this announcement, share price of Huron surged 4.66% on Dec 20.
Along with comprehensive risk management, the acquisition brings together strategic insight, science and technology depth, regulatory and compliance expertise, marketplace data and advanced analytics.
With the strategic purchase, Huron aims to enhance its service offerings to life science clients, expand operations in advanced analytics and provide regulatory compliance offerings to law and investment firms. Huron will also be able to provide better services to its pharmaceutical, medical device and investment banking clients.
The life sciences industry is changing due to market consolidation, healthcare reforms, increased regulations, challenging drug pipelines, and pressure on research & development (R&D) spending. The expansion of Huron Life Sciences will help executives address the challenges prevailing in an increasingly complicated technical and regulatory environment and thereby take more informed business decisions.
Huron Life Sciences provides support to healthcare providers, academic medical centers, pharmaceutical, medical device, and biotechnology companies to help them achieve their financial and strategic objectives.
Huron Consulting Group helps clients in diverse industries to improve performance, reduce costs, leverage technology, process and review large amounts of complex data and address regulatory changes.
Huron Consulting Group currently has a Zacks Rank #3 (Hold). Better-ranked stocks in the industry include CoreLogic,Inc (CLGX), Stantec, Inc. STN) and Towers Watson & Co. (TW). All these stocks carry a Zacks Rank #1 (Strong Buy).