HCPro acquires Brownstone's healthcare management publications.In the second sale of one of its divisions in two months, Brownstone brownstone, red to brown variety of sandstone. Its unusual color is caused in some instances by the presence of red iron oxide which acts as a cement, binding the sand grains together. Publishers Inc., New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , has sold its Health Care Management division to HCPro, Marblehead, Mass. Terms of the transaction were not disclosed. Brownstone's earlier sale consisted of its Real Estate Management division to the Vendome Group (NL/NL 8/19/04). For its part, the purchase represents HCPro's fifth acquisition of the year. It is also the company's largest since the management-led buyout of the company's founders in December 2002. In that transaction, The Riverside Company The Riverside Company is the largest private equity firm investing in premier companies at the smaller end of the middle market (valued between $5 million and $125 million). assumed a majority interest of HCPro. Financing for the Brownstone transaction was provided by Citizens Bank under its existing credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities . The deal included nine monthly newsletters and six looseleaf products. In addition to providing further penetration and additional products in HCPro's existing markets, the Brownstone acquisition vaults HCPro into four new markets: laboratory compliance, ambulatory surgery ambulatory surgery n. Surgery performed on a person who is admitted to and discharged from a hospital on the same day. ambulatory surgery, n compliance and reimbursement, radiology, and mangaged care contracting and reimbursement. "The acquisition cements our market-leading position in the health information, ambulatory and credentialing markets," said HCPro president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Bruce Guzowski. "We are delighted to carry on the traditions of Brownstone's founders, John Striker and Andy Shapiro, providing outstanding information to the healthcare industry," Guzowski said. Brownstone's future unknown Efforts to reach anyone at Brownstone were unsuccessful, but industry insiders told NL/NL that it appears the Brownstone principles want to move on to other endeavors or possibly become a small publisher in the K-12 education market. Brownstone now has only its smallest publishing line, its Education Management division. Its education publications include School Superintendent's Insider, IEP IEP In currencies, this is the abbreviation for the Irish Punt. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. Trainer, Superintendent's Complete Guide to School District Management, and No Child Left Behind Compliance Insider. HCPro provides the healthcare industry with information products in a variety of formats and media, including newsletters, books, videos, audio conferences, and online course. It also provides seminars and consulting through The Greeley Company division. HCPro, 200 Hoods Lane, Marblehead, MA 01945, 781-639-1872, fax 781-639-2982, www.hcpro.com Brownstone, 149 Fifth Ave., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10010, 212-473-8200, fax 212-473-8786, www.brownstone.com |
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