CBRE buys healthcare facilities consultancy Noveen, hires new Healthcare leader

13 September 2018

LA-based real estate services leader CBRE Group has bolstered its healthcare services offering with the acquisition of Louisville, KY-based Noveen Consulting. Noveen is focused on healthcare facilities consulting services, including project management and IT. CBRE also recently announced Mark Lamp as the new leader of their US Healthcare practice.

Louisville, KY-based Noveen Consulting helps healthcare facility owners solve complex challenges with a wide suite of advisory services. Noveen’s consulting offerings include facility assessments, capital and facility planning, project management, commissioning services, energy management, and IT services. The firm serves healthcare facilities clients across the United States.

The boutique consultancy has now been acquired by real estate services and investment giant CBRE Group. CBRE’s services include facility and project management, transactions, leasing, property sales, development services, and strategic consulting. Last year, the Los Angeles-based firm posted $14.2 billion in global revenues. CBRE has 80,000 employees worldwide, with 30,000 of those located in the US.

Noveen will become part of CBRE’s Healthcare practice, which helps US healthcare providers reduce costs, monetize assets, and maximize value from their real estate. The practice’s offerings include facilities management, transactions, management consulting, and project management. Noveen, along with company head Mo Deljoo, will join the project management business line of the Healthcare practice.CBRE buys healthcare facilities consultancy Noveen, hires new Healthcare leader“Through the last seventeen years, Noveen and CBRE professionals have worked along-side each other with a common purpose to address the business objectives of our clients,” said Mo Deljoo, President of Noveen Consulting. “By combining resources, we are in position to provide a complete, integrated solution to the needs of our healthcare clients.”

Working in the same area of healthcare facilities consulting, CBRE clearly saw the value of buying out the tightly focused consultancy. The terms of the transaction were, however, not disclosed.

“We have a deep understanding of Noveen’s value proposition and are excited to embed their capabilities into our full service offering for healthcare systems nationwide,” commented Curt Grantham, Global President of Project Management, CBRE. “The environment for healthcare providers continues to evolve rapidly and Noveen gives CBRE another significant advantage in helping our clients to achieve innovative facility & technology outcomes.”

Mark Lamp to head US Healthcare practice

CBRE also recently announced that it had hired Mark Lamp to lead its US Healthcare practice as Executive Managing Director. Lamp has deep experience in healthcare devices, software, and service firms – including GE Healthcare, where he worked for 17 years.

Based out of Chicago, Lamp will be tasked with driving the growth of the Healthcare division, which manages 100 hospitals and health systems spanning over 164 million square feet. The practice employs over 3,450 professionals with expertise in facilities operations, compliance, analytics, and transactions, among other areas.

“Mark is an exceptional leader with an entrepreneurial mindset who will leverage both facility operations and innovative technology to drive the next level of value for our healthcare clients,” said Don Leeke, President, Client Solutions for CBRE’s Global Workplace Solutions business.



OneDigital buys Northwestern Benefit in company's largest acquisition yet

11 April 2019

Human resources and benefits consultancy OneDigital Health and Benefits has acquired Northwestern Benefit, the largest privately held benefits broker in Georgia.

Atlanta-based OneDigital has carried out an aggressive acquisition strategy in past years, completing 28 deals in 2018, as well as five in 2019 thus far. Its recent acquisitions have included consulting firms Paradigm Group, Cherry Creek Benefits, and Veritas Risk Services. OneDigital’s rapid expansion last year boosted annual revenue by $100 million in 2018, reaching $400 million.

OneDigital’s core offerings include strategic benefit advisory services, analytics, compliance support, human resources management technology, and insurance broking. The firm has more than 80 offices in the United States.

The consulting firm has continued its accelerated growth strategy with the purchase of benefits and HR consultancy Northwestern Benefit, which is also based in Atlanta. “This represents an exciting milestone for OneDigital, where our largest acquisition to date is also located right here in our home state of Georgia,” Adam Bruckman, CEO of OneDigital, said. “Northwestern lets us compete in the Atlanta benefits marketplace in an entirely new way.”OneDigital buys Northwestern Benefit in company's largest acquisition yetThe acquired firm was founded in 1996, and provides benefits, HR, compliance, wellness, education, and workforce planning advisory services to clients in George and across the US. Northwestern Benefit’s 150 employees will join OneDigital, bringing the firm’s headcount to over 1,600 employees, and its employer client count to approximately 50,000.

OneDigital’s chief growth officer, Mike Sullivan, highlighted Northwestern’s excellent sales culture and client service models as factors in the deal, while noting that the deal will significantly expand the firm’s middle market scale and capabilities. Sullivan expects more deals on the horizon, as OneDigital seeks to scale up further. “We expect north of 25 acquisitions again this year to bring us over the $500 million revenue threshold,” he said.

David Asbury, CEO of Northwestern Benefit, will join OneDigital as a senior managing principal. “As the benefits space continued to consolidate and we considered acquirers, it was incredibly important to me to find the right partner,” he said. “With OneDigital’s scale, reach and long-term vision, we knew our organizations would fit together and be stronger together right off the bat.”

As employment levels remain at record highs, employers are increasingly turning to effective and comprehensive benefits packages in order to attract and retain a dwindling pool of talent. HR and benefits firms help employers strategize the ideal benefits and compensation packages to get the talent they need, while doing so in the most cost-effective manner. “In a rapidly changing economy, an employer’s ability to attract and retain talent is often directly tied to the benefits they can provide, and OneDigital ensures we’re supplying our clients with the most robust health, wealth, and HR advisory services,” Bruckman said.