That national accounting and advisory firm of BDO USA, LLP has expanded its healthcare advisory services practice through the acquisition of the consulting division of PBC Advisors.
Based in Oak Brook, Illinois. PBC Advisors has been a valued business advisor to physicians and hospitals for more than 30 years. Managed care and value-based care strategies, physician practice M&A, medical group formation, and provider-sponsored health plan development are just a few of the advisory services provided by PBC’s consulting division. The transaction, which brings 3 partners and 9 additional professionals to BDO, is effective immediately.
“We are extremely pleased to build on our presence in the Chicago market and add complementary resources to our national healthcare advisory services practice and The BDO Center for Healthcare Excellence & Innovation,” said Jay Duke, National Managing Partner for Advisory Services at BDO USA. “This is truly a win-win scenario, as we receive an injection of new talent and service offerings, while PBC’s clients benefit from an expanded array of services. Just as important, BDO and PBC share a complementary service approach – with a focus on helping healthcare organizations navigate risk, make informed investment decisions and seize opportunities.”
Chad Beste, Jim Watson and Janet Bliss are the new partners joining BDO from PBC Advisors, bringing more than 70 years of combined experience in the healthcare industry advising on areas such as mergers, strategy development, interim management, financial operations, managed care and value-based contracting, human resources, governance and physician practice management.
“PBC Advisors has built a strong brand in the Chicago marketplace as a premier business advisor to the healthcare industry. The consulting division has been an important component of that success. To reach the next level of growth and expand our footprint, we need the national brand name and resources that BDO can provide,” said Chad Beste, BDO partner and former PBC Advisors consulting partner. “As part of BDO, we will have the national platform and channels to continue building on our success. Our clients will continue to receive the close personal attention that they have come to expect, while having access to a wider breadth of service offerings. In addition, BDO has a well-earned reputation as a favorable workplace and our people will have new opportunities to serve a broader client base.”
PBC Advisors’ accounting, tax and wealth management divisions will continue to operate independently under the PBC Advisors brand, while becoming an independent member of the BDO Alliance USA, one of the industry’s largest associations of accounting, consulting and professional services firms.
“We are pleased to be joining the BDO Alliance USA and to be working with BDO to serve our mutual clients,” said Jay Sanders, Managing Partner of PBC Advisors.
According to Allan D. Koltin, CEO of Koltin Consulting Group, who advised both firms, “The consultants of PBC Advisors chose BDO because of their compatible cultures and BDO’s depth of resources in healthcare. The combination brings together one of the top healthcare consulting groups in the Greater Chicago region and BDO’s comprehensive, national healthcare practice to provide wide-ranging services across the industry.”
The new BDO professionals, formerly with PBC Advisors’ consulting division, have relocated to BDO’s Rosemont office. PBC Advisors continues to provide accounting, tax and wealth management services from their existing offices in Oak Brook.