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National Research Acquires Governance Institute
In the USA, National Research Corp, which provides healthcare measurement, has announced that it is acquiring The Governance Institute from Housatonic Partners, in a deal worth US$19.8 million plus US$2.5 million in liabilities.
The Governance Institute is a membership organisation in San Diego, California that conducts research, tracks health care industry trends, and promotes best practices for board members, management and physician leaders of hospitals and health systems across the country. It had revenues of US$6.2 million last year and employs 28 people, whilst National Research has about 200 employees.
According to Patrick Beans, Chief Financial Officer of National Research, National Research has been bringing improvement tools to the health care market for a couple of years but the acquisition diversifies these operations. 'Some of their topics would be patient safety, some physician retention, nurse retention. So we're kind of related, but clearly it's a different audience, that's why we're leaving it as a standalone, in San Diego.'
Jona Raasch, National Research's Chief Operating Officer, will become President of The Governance Institute.
According to Jim Rice, Vice Chairman of The Governance Institute, 'NRC's depth in performance measurement and improvement content, blended with its expertise, will allow TGI to add material value to our member organizations on the very topics of the highest priority.'
The companies are online at www.governanceinstitute.com and www.nationalresearch.com .
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