By Jason Free, Features Editor, June 2014
HMT recently explored the hypothetical challenges, from an IT perspective, that are created during corporate mergers and partnerships. I decided to go one step further with this investigation by contacting executives who just recently experienced a merger.
Below are the current thoughts and future objectives of Therese Wareham, CEO and Managing Director of Kaufman Hall and Peri Pierone, President of Axiom EPM.
Kaufman Hall's acquisition of Axiom EPM
Therese Wareham, CEO and Managing Director, Kaufman Hall “Kaufman Hall announced its acquisition of Axiom EPM. This transaction will leverage Kaufman Hall’s industry expertise and Axiom’s innovative cloud software capabilities for advanced planning, modeling, analysis and reporting in healthcare, banking and higher education. This new partnership promises to create new solutions that the market.
HMT contacted the CEOs of each company to gather their thoughts on the new partnership as well as their impressions of their future work together.
Healthcare organizations today are grappling with huge challenges – declining reimbursement, regulatory challenges, rapidly changing market conditions, more and more people seeking care now that they have insurance coverage. Providers have to make the right decisions about where to allocate resources – human, financial, facilities – to best meet the needs of their communities and to maintain their financial strength and stability.
Kaufman Hall has provided consulting and software solutions to help our clients meet these challenges for several decades and now the products, services and innovative approach brought to us by Axiom EPM enhance our support for the thousands of healthcare organizations with whom we work.
Kaufman Hall and Axiom have a shared vision of creating excellence – using best-in-class consulting expertise and software tools to support data-driven analysis and decision making and enable long-term success for our clients. Kaufman Hall’s strong presence in healthcare will create significant opportunities for utilization of Axiom’s already in-market tools such as cost accounting and service line analysis, on a unified, cloud platform, that are absolutely critical for healthcare providers dealing with the challenges of healthcare system reform.
Now working together with our clients – in what we think of as real-time R&D – we have unique insight on all of the challenges, the nuances, the changes, the stress points facing healthcare providers today. That insight feeds directly into our software development process so that we can continue to deliver leading-edge solutions.
There is enormous strength built on the synergy of industry-leading consulting expertise and innovative proprietary software. Kaufman Hall’s consulting services and established software install base, combined with Axiom’s sophisticated planning and decision-support capabilities create an organization that meets clients’ needs today and into the foreseeable future.
It’s one plus one equals three.”
Peri Pierone, President, Axiom EPM “We're very excited to be joining forces with Kaufman Hall. Over the last few years, we have had numerous inquiries from the investment community, but only from a few potential suitors that could create the kind of value and future we were seeking for our customers and employees.
Kaufman Hall represents an outstanding strategic fit in this regard. Both firms share a common strategic mission of driving performance management success. Both companies put customer satisfaction as their top priority – proven with a 100% implementation success and over 97% customer retention over the past 10 years. The combined entity will be unmatched in terms of both strategic management consulting services and innovative, modern software capability.
Providing value to our customers is our top priority. As healthcare organizations face a multitude of uncertainties – from the changes resultant to industry reform to declining reimbursements and shrinking operating margins – performance management has become a means to not only survive, but thrive. By combining Axiom EPM’s proven software platform for financial planning, cost accounting and decision support capabilities with Kaufman Hall’s unmatched strategic consulting expertise, we will undoubtedly be the company best equipped to help organizations successfully navigate this new age of healthcare.
This acquisition allows Axiom EPM to almost immediately enhance the value we deliver to clients by leveraging Kaufman Hall’s expertise in strategic management consulting and best practices for financial planning and analysis for healthcare organizations. Kaufman Hall’s strong brand, expertise and senior relationships with CFOs and board members presents an exciting growth opportunity for Axiom EPM and our customers will certainly benefit from expanded financial resources, increased R&D investments in the technology platform, and expanded support and technical resources.
I am honored to lead the Axiom EPM subsidiary moving forward. We look forward to working together with Kaufman Hall to continue to create value to our customers.”
Link to original article: http://www.healthmgttech.com/articles/201406/mergers-and-acquisitions.php