Navigant Consulting, Inc. Acquires Tiber Group, LLC
CHICAGO, Apr 18, 2005 (BUSINESS WIRE) -- Navigant Consulting, Inc. (NYSE:NCI), a specialized consulting firm providing dispute, financial, regulatory and operational advisory services to companies in regulated industries, government agencies and legal counsel, announced today that it has acquired Tiber Group, LLC. The investment enhances Navigant Consulting's Healthcare practice, specifically in the areas of hospital, healthcare provider and managed care organization strategic analysis and business strategy formulation.
"Tiber Group is well-known in the healthcare sector for their innovative and results-oriented work, and they are highly regarded for their ability to develop business strategies that have a meaningful and direct impact on the financial performance of their clients," stated Tri MacDonald, Managing Director of Navigant Consulting's Healthcare practice. "Tiber Group's specialized expertise and service offerings enhance our national Healthcare platform and are exceptionally complementary to our existing capabilities. This combination with Tiber Group allows us to offer important additional solutions to our healthcare clients."
Tiber Group is a well-recognized, specialized management consultant firm which assists senior healthcare executives with regard to strategic advisory services, including strategic analysis, service line portfolio analysis, strategy formulation and organizational transformation. A significant number of Tiber Group's engagements have been for private and not-for-profit hospital systems, including large academic medical centers, multi-facility faith-based systems and regional community-based systems. Tiber Group professionals will integrate with the other teams in Navigant Consulting's Healthcare practice, which has more than 375 professionals.
"For more than 15 years, Tiber Group has assisted healthcare organizations across the U.S. in defining and achieving their corporate objectives, and our success has been made evident by the longevity of our business relationships and client loyalty," stated David Burik, President and Founding Partner of Tiber Group. "We are excited to join Navigant Consulting's national Healthcare practice because both organizations believe in delivering the highest levels of client service and because our professionals and clients will benefit greatly from the opportunities that arise from working together and merging best practices." Burik will have a leadership role in Navigant Consulting as a Managing Director in the Company's Healthcare practice.
Founded in 1989, Tiber Group has a team of 24 billable professionals based in Chicago. Transaction details were not released.
Navigant Consulting will announce its First Quarter 2005 results of operations, including Second Quarter 2005 guidance, on Tuesday, April 19, in its conference call, which will commence at 10:00 a.m., ET.
About Navigant Consulting
Navigant Consulting, Inc. (NYSE:NCI) is a specialized independent consulting firm providing dispute, financial, regulatory and operational advisory services to government agencies, legal counsel and large companies facing the challenges of uncertainty, risk, distress and significant change. The Company focuses on industries undergoing substantial regulatory or structural change including healthcare, energy and financial and insurance services, and on the issues driving these transformations. "Navigant" is a service mark of Navigant International, Inc. Navigant Consulting, Inc. (NCI) is not affiliated, associated, or in any way connected with Navigant International, Inc. and NCI's use of "Navigant" is made under license from Navigant International, Inc. More information about Navigant Consulting can be found at www.navigantconsulting.com.
Except as set forth below, statements included in this press release, which are not historical in nature, are intended to be, and are hereby identified as, "forward-looking statements" as defined within the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words including "anticipate," "believe," "intends," "estimates," "expect" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation, those relating to the Company's future business prospects, revenues, working capital, liquidity, income and margins, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements, due to several important factors, including those identified from time to time in the Company's reports filed with the SEC. Such risk factors include, but are not limited to: acquisitions and acquisitions under consideration, follow-on offerings, revenues and financial estimates, significant client assignments, recruiting, attrition and new business solicitation efforts, judicial proceedings, regulatory changes and general economic conditions.
SOURCE: Navigant Consulting, Inc.
Navigant Consulting, Inc.
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