Kaufman Hall Acquires Axiom EPM
April 23, 2014 – Chicago, IL – Kaufman Hall, the leading provider of strategic financial consulting services and software tools to healthcare organizations, today announced that it has completed the acquisition of Axiom EPM, a Portland, OR-based private software company recognized for delivering sophisticated, flexible performance management solutions used by leading organizations in sectors including healthcare, higher education and banking.
Terri Wareham, Kaufman Hall CEO, said the combination of Kaufman Hall and Axiom "creates a single company with unmatched expertise and experience in data-driven analysis to transform financial, operational and strategic planning."
"As companies today struggle with critical business decisions, it is particularly difficult for them to assess and quantify the strategic and financial impact of plans, scenarios and actions," Wareham noted, "especially in sectors such as healthcare, higher education and banking, where regulatory challenges, revenue pressures and rapidly changing market conditions make strategic decisions and resource allocation so challenging."
Peri Pierone, Axiom EPM CEO, noted that "Our combined strength is built on the unique synergy of industry-leading consulting expertise and innovative software. Kaufman Hall's consulting expertise and established software install base, combined with Axiom's advanced planning and decision-support capabilities, delivered via cloud or on premise, create an organization that meets clients' needs today and into the future."
Pierone added "We are also thrilled about the solid foundation for significant growth created by our two powerful blue chip portfolios. Kaufman Hall's breadth in consulting in healthcare is complemented by Axiom's significant experience in creating innovative planning and cost accounting software solutions used by major healthcare organizations. The synergies form a solid core that is further enhanced by Axiom's expertise and proven software solutions for organizations in higher education, banking and other sectors."
The combined company will be positioned to broaden its base of business via Axiom's multi-sector portfolio and to extend, as appropriate, Kaufman Hall's consulting expertise into new industry sectors. Similarly, Kaufman Hall's industry-leading presence in healthcare will create significant opportunities for utilization of Axiom's already in-market tools such as cost accounting and service line analytics that are absolutely critical for healthcare providers dealing with the challenges of health system reform.
Both companies have a proven track record of superlative client service and satisfaction. Pierone said "As a combined entity, we have achieved 100 percent implementation success and a client retention rate in excess of 97 percent over the past 10 years – numbers that speak for themselves and are unheard of in this industry."
The Axiom EPM brand will continue and operate as a wholly owned subsidiary of Kaufman Hall. Current employees and offices will be retained and targeted hiring plans will be put in place to serve increased market demand for performance management software and services. There will be no changes to existing contracts for current Kaufman Hall or Axiom EPM customers and partners. There will also be no changes for current clients in terms of customer support for existing solutions and technology.
"Our top priority is, and has always been, client satisfaction," commented Wareham. "This strategy is all about extending the value and capabilities that we can provide our clients to help them achieve outstanding financial performance."
William Blair and Company of Chicago acted as the exclusive financial advisor to Kaufman Hall. Vista Point Advisors, a San Francisco-based boutique investment bank, acted as the exclusive financial advisor to Axiom EPM.
About Kaufman Hall
Since 1985, Kaufman Hall has been a leading software provider and advisor to hospitals and health systems, helping them incorporate proven methods into their strategic and financial management processes and consistently achieve their goals. We contribute to our clients' success by providing the industry's most advanced offering of integrated management solutions, which includes consulting services and software tools designed to facilitate and sustain organizational improvement. More than 600 hospitals and health systems across the country use Kaufman Hall software to help plan and manage their operations. To learn more, please visit www.kaufmanhall.com.
About Axiom EPM
Founded by industry leaders with over two decades of experience in enterprise planning and reporting, Axiom EPM provides sophisticated, flexible performance management solutions that empower finance professionals to analyze results, model the future and optimize organizational decision making. Solutions for budgeting and forecasting, reporting and analytics, strategy management, consolidations, capital planning, profitability and cost management are delivered on a single unified platform. Axiom EPM embraces and extends familiar Microsoft Excel® functionality, allowing finance professionals to manage data in a familiar environment – while providing unmatched modeling flexibility and enterprise performance.
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Media Contact:
Chanel Benoit
Aria Marketing for Kaufman Hall & Associates
617-332-9999 x209
