Navigant Acquires Cymetrix, a Leading Healthcare Revenue Cycle Management Firm

  Navigant Acquires Cymetrix, a Leading Healthcare Revenue Cycle Management

Strengthens Navigant’s Business Portfolio & Expands Outsourcing Platform,
Providing a Catalyst for Growth

     - Navigant Management to Host Conference Call Today at 5:30 p.m. ET-

Business Wire

CHICAGO -- May 14, 2014

Navigant (NYSE: NCI) announced today that it has acquired Cymetrix
Corporation, a privately held revenue cycle management firm that specializes
in providing outsourcing services to hospital and healthcare networks. The
addition of Cymetrix’s approximately 600 business process outsourcing
employees significantly enhances Navigant Healthcare’s existing physician
revenue cycle outsourcing capabilities, which are offered through Navigant’s
Alleviant subsidiary, and establishes Navigant Healthcare as a leading
provider of end-to-end revenue cycle management services. The newly acquired
company will operate as Navigant Healthcare Cymetrix.

Under the terms of the acquisition agreement, Navigant paid approximately $75
million in cash at closing to acquire 100% of the stock of Cymetrix and may
pay up to an additional $25 million to the selling stockholders based on the
acquired company’s achievement of certain post-closing performance targets.

“The acquisition of Cymetrix aligns with our strategic growth plans and is
transformative for Navigant – creating new opportunities for us to evolve and
expand our business platform beyond consulting services to incorporate more
data analytics products, technology-enabled solutions, and operations
outsourcing,” stated Julie Howard, Navigant Chairman and Chief Executive
Officer. “These complementary and adjacent solutions extend the value we can
bring to our clients from strategy and advisory services all the way through
to execution. Moreover, the acquisition adds new recurring revenue streams
with higher predictability and offers us a catalyst for accelerated revenue

Founded in 2001, Cymetrix is a national leader in providing healthcare
organizations and hospital-affiliated physician practices with end-to-end
revenue cycle outsourcing solutions. Cymetrix creates custom solutions that
are designed to deliver sustained improvement in performance and profitability
while ensuring the patient experience and hospital mission are served.
Cymetrix Chief Executive Officer, Michael Halberda, will continue to lead the
company’s day-to-day operations as part of Navigant Healthcare.

“Cymetrix’s client base spans more than 200 hospitals and health networks
nationwide, and it is a leader in helping clients improve their operating
margins while focusing on clinical care,” said David Zito, Managing Director
and Navigant Healthcare segment leader. “Market forces like ICD-10 and the
move toward a pay-for-performance system are placing new demands and extreme
cost pressures on hospitals. The increasing complexity in the revenue cycle
process will encourage healthcare providers to consider outsourcing to
alleviate that aspect of administration. With the Cymetrix team, we are now
able to offer our clients a premier option for devising the best strategy as
well as implementation services.”

Cymetrix has received many industry accolades for its solutions including the
highest score in the “Best in KLAS Awards” for Software & Services and #1 for
its extended business office services for the second year in a row. It is one
of only three U.S. firms certified as “MAP Keys Compliant” by the Healthcare
Financial Management Association (HFMA).

“We are excited to be joining Navigant, an organization that shares our
passion for the Healthcare industry and commitment to designing innovative
solutions that help our clients realize their goals,” said Cymetrix Chief
Executive Officer, Michael Halberda. “We are looking forward to developing
additional and expanded solutions that enable our clients to focus on their
mission in the midst of significant industry change.”

Jayson Yardley, Cymetrix President added, “Michael and I are very energized
about the opportunities for growth our Cymetrix team members will have as a
result of this transaction. The expanded client base will generate additional
demand for the resources, solutions and delivery capabilities provided by
Navigant Healthcare Cymetrix – all of which will create more and diverse
professional growth and personal reward opportunities for our people.”

Navigant updated its 2014 financial outlook to include the acquisition of
Cymetrix and expected impact of the post-acquisition integration of the
acquired business. Full year 2014 revenues before reimbursements (RBR) are
expected to range between $772 and $816 million including $37 – $41 million
from Cymetrix over the remainder of 2014 with total revenues for 2014
estimated in the range of $848 and $892 million including $38 – $42 million
from Cymetrix. Adjusted earnings per share for full year 2014 is estimated to
be between $0.94 and $1.06 reflecting Cymetrix acquisition-related dilution of
$0.07 to $0.09 per share which is in addition to the previously disclosed
first quarter due diligence costs that had already been reflected into the
Company’s outlook for full year 2014. Adjusted EBITDA for full year 2014 is
expected to remain in a range between $120 and $130 million.

Navigant management will host a conference call to discuss the acquisition
further on Wednesday, May 14 at 5:30 p.m. ET. The conference call may be
accessed via the Navigant website ( or by
dialing 800.779.9314 (773.756.4634 for international callers) and referencing
pass code “NCI.” An archived version of the webcast will also be available via
the Navigant website.

About Navigant Healthcare

Navigant Healthcare, a business segment of Navigant, works collaboratively
across a spectrum of clients in the payer, provider and life sciences space.
Its professionals consist of industry thought leaders, healthcare executives,
clinicians, physicians and seasoned consultants who assist health systems,
physician organizations, payers and life sciences companies in designing,
developing and implementing integrated, technology-enabled solutions that
create high-performing healthcare organizations. Through a unique
interdisciplinary approach leveraging the depth and breadth of experience,
Navigant Healthcare enables clients to build their capabilities and achieve
sustainable peak performance around quality of care, cost, leadership, and
culture in today’s changing healthcare environment.

About Navigant

Navigant (NYSE: NCI) is a specialized, global expert services firm dedicated
to assisting clients in creating and protecting value in the face of critical
business risks and opportunities. Through senior level engagement with
clients, Navigant professionals combine technical expertise in Disputes and
Investigations, Economics, Financial Advisory and Management Consulting, with
business pragmatism in the highly regulated Construction, Energy, Financial
Services and Healthcare industries to support clients in addressing their most
critical business needs. More information about Navigant can be found at

Statements included in this press release which are not historical in nature
are forward-looking statements as defined within the Private Securities
Litigation Reform Act of 1995. Forward-looking statements may generally be
identified by words such as “anticipate,” “believe,” “intend,” “estimate,”
“expect,” “plan,” “outlook” and similar expressions. These statements are
based upon management’s current expectations and speak only as of the date of
this press release. The Company cautions readers that there may be events in
the future that the Company is not able to accurately predict or control and
the information contained in the forward-looking statements is inherently
uncertain and subject to a number of risks that could cause actual results to
differ materially from those contained in or implied by the forward-looking
statements including, without limitation: the success of the Company’s
organizational changes and margin improvement initiatives; risks inherent in
international operations, including foreign currency fluctuations; ability to
make acquisitions and divestitures; pace, timing and integration of
acquisitions and separation of divestitures; impairment charges; management of
professional staff, including dependence on key personnel, recruiting,
attrition and the ability to successfully integrate new consultants into the
Company’s practices; utilization rates; conflicts of interest; potential loss
of clients or large engagements; clients’ financial condition and their
ability to make payments to the Company; risks inherent with litigation;
higher risk client assignments; professional liability; potential legislative
and regulatory changes; continued access to capital; and market and general
economic conditions. Further information on these and other potential factors
that could affect the Company’s financial results are included under the “Risk
Factors” section and elsewhere in the Company’s filings with the Securities
and Exchange Commission ( SEC ), which are available on the SEC’s website or
at The Company cannot guarantee any
future results, levels of activity, performance or achievement and undertakes
no obligation to update any of its forward-looking statements.


Carrie Grapenthin
Navigant Corporate Communications
Paul Longhini
Navigant Investor Relations
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