HCPro Acquires Brownstone’s Healthcare Management Publications

Press Releases, October 12, 2004

MARBLEHEAD, Mass.-HCPro announced today it completed its fifth acquisition of the year, purchasing the healthcare publications of Brownstone Publishers, Inc. The deal brings to HCPro various healthcare-related publications, including nine monthly newsletters and six loose-leaf products.


In addition to providing further penetration and additional products in HCPro's existing markets, the Brownstone acquisition vaults HCPro into three exciting new markets: laboratory, radiology and managed care compliance. "The acquisition cements our market-leading position in the health information, ambulatory and credentialing markets," said HCPro President/CEO 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."


The Brownstone acquisition is HCPro's largest since the management-led buyout of the company's founders in December, 2002. In that transaction, The Riverside Company assumed a majority interest of HCPro. Financing for the Brownstone transaction was provided by Citizens Bank under its existing credit facilities.


The acquired newsletters are HIPAA Security & Privacy Staff Trainer, Health Information Compliance Insider, HIPAA Security Compliance Insider, Laboratory Compliance Insider, Managed Care Contracting & Reimbursement Insider, Ophthalmology Contracting & Reimbursement Insider, Radiology Administrator's Compliance and Reimbursement Insider, Credentialing & Peer Review Legal Insider, and Ambulatory Surgery Compliance and Reimbursement Insider. The loose-leaf products are in the health information management and managed care sectors.


Terms of the transaction were not disclosed.