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ParenteBeard LLC Announces Combination With Presscott Associates, Ltd.

January 7, 2013

ParenteBeard LLC, a top 25 U.S. accounting firm, and Presscott Associates, Ltd., a prominent healthcare management consulting firm, announced today they have combined practices as of December 31, 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 capitalizes on the strengths of each to create an organization recognized as both a CPA and healthcare 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 healthcare management consulting firm provides specialized services to a diverse healthcare client base including hospitals, physicians, integrated delivery systems, national and regional health plans and life sciences and technology companies. Specialized healthcare services include economic value analysis, revenue chain management (e.g., including 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 healthcare clients one-stop service through ParenteBeard’s recognized 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 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.

About ParenteBeard

ParenteBeard is ranked among the top 25 accounting firms in the U.S. ParenteBeard has over 1,000 professionals and is a leader in providing CPA and business advisory services to small businesses, middle market companies, nonprofits and SEC registrants. As an independent member of Baker Tilly International, ParenteBeard is proud to provide the highest level of service to clients nationally and internationally.

About Presscott Associates
Presscott Associates was founded in 1989. Today, Presscott Associates is recognized for having the professional depth and technical expertise to meet the particular needs and objectives of sophisticated and diverse healthcare clients.

For more information, please visit ParenteBeard at www.ParenteBeard.com or Presscott Associates at www.Presscott.com.