Huron Consulting Group Acquires Healthcare Consulting Firm

Huron Consulting Group Inc., a leading provider of financial and operational consulting services, today announced the acquisition of Wellspring Partners LTD, a leading management consulting firm specializing in integrated performance improvement services for hospitals and health systems.

“The healthcare industry faces many challenges, while growing at an unprecedented pace. Adding the talents of Wellspring’s seasoned consultants and former hospital executives to Huron will expand our national footprint in the healthcare provider space. This will make Huron’s healthcare consulting group one of the largest and most experienced healthcare consulting practices in the country,” said Gary E. Holdren, chairman and chief executive officer, Huron Consulting Group.

“Together, Huron and Wellspring can provide a full complement of services to a wide spectrum of hospitals and multi-hospital systems, from community hospitals to academic medical centers, to help these organizations achieve a position of financial strength and carry out their missions,” said David M. Shade, principal and chief executive officer, Wellspring Partners LTD.

Under the terms of the agreement, Huron has acquired Wellspring Partners LTD for a purchase price of approximately $65 million in cash. Additional purchase consideration is payable in cash if specific performance targets are met. Wellspring had unaudited 2006 calendar year revenues of approximately $55 million. Huron expects that the acquisition will be accretive to 2007 earnings and will provide guidance updates when it releases results for the fourth quarter and full year 2006.

Founded in 1999, Wellspring Partners’ services include performance improvement consulting, hospital turnarounds, merger/affiliation strategies, labor productivity, non-labor cost management, information technology, revenue cycle improvement, physician practice management, interim management, clinical quality and medical management, and governance and board development. Wellspring has completed engagements for more than 150 hospitals and health systems during the past seven years, including some of the largest and most prominent in the U.S. Wellspring will bring a team of approximately 65 revenue-generating professionals to Huron and maintains a network of 200 contractor specialists to focus on the unique needs of clients.

In joining Huron, Shade will lead Huron’s Healthcare practice. In addition, Laurence Abramson, Joseph J. Alfirevic, Stephen L. Furry, Janice James, Ramona G. Lacy, Gordon J. Mountford, Manfred R. Steiner, John F. Tiscornia, and George W. Whetsell will join the Company as managing directors.

Huron’s professionals have worked with more than 80 of the 100 largest academic medical centers and research institutions. With the acquisition of Wellspring, Huron has broadened its service offerings to healthcare providers, payors, and academic institutions.

“The breadth of our service offerings and the depth of experience in our combined healthcare practices will solidify our leadership in providing consulting services to hospitals and academic medical centers,” said Holdren. “All the healthcare demographics in the next 30 years point to increased pressures and opportunities at hospitals and research organizations. Huron is well positioned to help these institutions achieve their important societal mission.”

In connection with this acquisition and the acquisition of Glass & Associates, Inc. also announced today, Huron has amended its credit agreement so that the maximum amount of principal that may be borrowed under the unsecured revolving credit facility is increased from $75 million to $130 million. No other key terms of the credit agreement, which was originally entered into on June 7, 2006 and expires on May 31, 2011, were modified under the amendment, and the balance of the credit facility will remain available for future working capital requirements and other corporate purposes.