The National Research Corp. bought hospital governance information and education company The Governance Institute this week. The deal cost the NRC $19.5 million in cash and $2.8 million in assumed liabilities.
Private equity firm Housatonic Partners was the majority shareholder in TGI.
“TGI’s attractive subscription-based business model, high renewal rates and low capital requirements, combined with its highly recognized and trusted brand built over the past 20 years, has all the aspects one looks for in great companies with great talent,” said NRC’s CEO Michael D. Hays in a statement.
TGI will remain in San Diego and its current associates are expected to remain. Jona Raasch, NRC’s chief operations officer, has been named president of TGI.