Parentebeard LLC Announces Combination With Presscott Associates Ltd

9 Jan 2013

Baker Tilly International member firm ParenteBeard (Philadelphia, Pennsylvania, USA) and Presscott Associates, Ltd, a prominent healthcare management consulting firm, have announced they have combined practices effective 31 December 2012. Presscott Associates will retain their 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 capitalises on the strengths of each to create an organisation recognised as both a CPA and healthcare management consulting firm, benefiting 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 healthcare management consulting firm provides specialised services to a diverse healthcare client base including hospitals, physicians, integrated delivery systems, national and regional health plans and life sciences and technology companies. Specialised healthcare services include economic value analysis, revenue chain management (eg including revenue cycle and optimisation 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 healthcare clients a one-stop service through ParenteBeard's recognised accounting and advisory solutions. Our 24-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 personalised 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 calibre of professional services they have come to expect," added Presscott Associates executive vice President David A Gregory.

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