Eide Bailly, a Top 25 Firm based in Fargo, North Dakota, has merged in Spectrum Health Partners, a financial advisory services firm based in Franklin, Tennessee, focused on the health care industry.
The deal will bring three partners and 10 professionals into Eide Bailly’s health care industry team, which is the firm’s largest industry specialization. Financial terms were not disclosed.
Eide Bailly ranked No. 19 on Accounting Today‘s 2023 list of the Top 100 Firms, with approximately $617 million in net fees during the fiscal year ending April 30, 2023. The firm has over 3,000 partners and staff.
“It was the knowledge of Eide Bailly’s culture, service offerings, strong and dedicated staff and resources that made joining Eide Bailly attractive,” said Spectrum Health president and CEO Ken Doran in a statement Monday.
Spectrum specializes in transaction advisory services, crisis and interim leadership, performance improvement and rural emergency hospital designation, and its services will fit in with the services offered by Eide Bailly to its clients in the health care sector.
“We are excited to combine forces with Spectrum to further expand and enhance health care consulting services to our clients,” said Geoff Knobloch, partner-in-charge of health care services at Eide Bailly, in a statement. “Especially in the areas of transaction services, interim leadership support, and process improvement.”
Eide Bailly frequently does mergers. Last month, the firm announced another M&A deal, with King & Oliason in Seattle, that will be effective July 17. Last year, it merged in Seim Johnson in Omaha, Nebraska, and in 2021, it expanded in Minnesota by adding PWB CPAs & Advisors, a firm based in the Minneapolis-St. Paul area. In 2020, it added Mukai, Greenlee & Co. in Phoenix, HMWC CPAs in Tustin, California, and Platinum Consulting in Fullerton. In January of this year, Noble Consulting Services, a subsidiary of the accounting firm Katz Sapper & Miller, acquired Eide Bailly’s insurance regulatory practice.
Credit: Source link
