Bright Horizons Family Solutions Inc., a public company, is a leading provider of workplace services for employers and families, including child care, early education and strategic work/life consulting. Bright Horizons manages over 460 child care and early education centers throughout the United States, Europe, Canada, and the Pacific Rim.
Bright Horizons has consistently been an active Core Company. In 2000, the Company began operating in Europe through the acquisitions of Nurseryworks Limited, which operated nine child care centers in the greater London area, and Circle of Friends, based in Ireland, which operated two child care centers. The acquisitions of the Red Apple Nursery Group and Kinderquest Ltd. in 2002, collectively added 52 additional child care centers and solidified the Company’s position as a leading provider of work-site child care in the United Kingdom. In 2001, the Company commenced operations in Canada upon the opening of a child care and early education center in the Toronto, Canada area.
Bright Horizons revenue is principally derived from the operation of child care and early education centers, and to a lesser extent, other services including consulting services. Revenue growth has primarily resulted from the addition of new child care and early education centers, as well as increased enrollment and tuition, and expanded programs at existing centers. The Company employs the sponsor model in approximately 60% of its child care and early education center sites. Under the sponsor model, a child care and early education center is operated at or near the sponsor’s work site. The Company retains profit-and-loss responsibility for the operation of the center, and, as part of the arrangement, may receive financial support from the sponsor.
Bright Horizons went public in November 1997 and trades on the Nasdaq under the symbol BFAM.
