ParenteBeard LLC, a top twenty-five, US accounting firm, and Presscott Associates, Ltd., a prominent health care management consulting firm, announced January 7, 2013, they have combined practices as of December 31, 2012.
Presscott Associates will retain its name and operate as a division of ParenteBeard, expanding the combined firm's market reach to include Pennsylvania, New Jersey, New York, Delaware, Connecticut, Texas, and Maryland.
"Presscott Associates has a reputation for excellence and an entrepreneurial spirit consistent with ParenteBeard's values and principles", said Bob Ciaruffoli, ParenteBeard chairman and chief executive officer. "This combination capitalizes on the strengths of each to create an organization recognized as both a CPA and health care management consulting firm, benefitting our clients and the larger business community."
Established in 1989, Presscott Associates brings two partners and nine team members to the combination. Headquartered in Connecticut, the health care management consulting firm provides specialized services to a diverse health care client base, including hospitals, physicians, integrated delivery systems, national and regional health plans, and life sciences and technology companies. Specialized health care services include economic value analysis, revenue chain management (e.g., revenue cycle and optimization of financial resources) and strategic relationship management.
Presscott Associates' founders expressed their excitement about the combination. "This combination will provide significant advantages to our clients, along with great opportunities for our professional staff. The combination provides an opportunity to extend our established presence in the expanded service area. We'll be able to provide our health care clients one-stop service through ParenteBeard's recognized accounting and advisory solutions. Our twenty-four-year commitment to client service is enhanced with added resources. Our enhanced service offerings, within the expanded service area, will allow our clients and employees to thrive and grow."
Presscott Associates President Neil M. Pressman says he expects the transition will be seamless, as both firms share the same values, culture, and commitment to quality. "While Presscott Associates is becoming a division of ParenteBeard, clients will still be working with the same people they have come to know and trust through the years. In combining with ParenteBeard, we are positioning ourselves to strengthen the range of personalized services we deliver", noted Mr. Pressman. "By delivering the exceptional client service that is our hallmark, we will continue to provide our clients with the caliber of professional services they have come to expect", added Presscott Associates Executive Vice President David A. Gregory.