Springfield, MO-based BKD, LLP, one of the 10 largest CPA and advisory firms in the U.S., acquired Waco, TX-based accounting firm Parrish, Moody & Fikes, P.C. (PMF) on July 1, 2011, said BKD Chief Executive Officer Neal D. Spencer.
"We want to continue our strategy of growing a dominant health care practice in Texas, and the timing was right for PMF to join our firm," Spencer said. "Their commitment to excellence and client service, along with their health care industry expertise, makes the firm a fitting addition to BKD."
With a focus on the health care industry, PMF has a long history of serving community hospitals: the firm's audit, Medicare, and Medicaid advisors work with more than 80 hospitals. PMF brings approximately 50 team members, including Partner Michael Oatman, to BKD. In addition to assisting health care providers, PMF provides tax planning, business valuation, technology, and litigation support services to companies in a variety of industries.
This expansion will allow BKD to enhance its presence in the rapidly growing Texas market as it serves clients from its offices in Houston, San Antonio, Dallas, and Waco. Larry King, Dallas managing partner, and Tom Watson, Dallas assistant managing partner, will lead the Waco office, which will be affiliated with BKD's Dallas practice.
"The merger of BKD and PMF is a game changer for Texas health care," Watson said. "Our Texas offices now serve nearly 25 percent of Texas hospitals. PMF's experienced professionals are a welcome addition to our growing Texas health care practice. They have a robust consulting practice that will add several skill sets to the already impressive industry expertise within BKD National Health Care Group."
Oatman said former PMF clients now have access to BKD's deep network of resources, including firm subsidiaries BKD Wealth Advisors, LLC, an independent wealth management firm, and BKD Corporate Finance, LLC, which provides corporate finance services related to mergers, acquisitions, sales and succession planning.
"BKD prides itself on putting people first, and that commitment extends beyond employees to clients," he said.
BKD is the 10th largest CPA and advisory firm in the country with approximately $404 million in annual revenues. The firm provides consulting, tax, assurance, accounting outsourcing, information technology, investment advisory, and corporate finance services, as well as specialized consulting for the technology, health care, financial institutions, manufacturing, distribution, construction, real estate, not-for-profit and government industries.
PMF was founded more than 60 years ago and is located at 7901 Woodway Drive, Suite 100 in Waco. The office will remain at that location.