CBIZ, Inc. has completed an acquisition of the non-attest assets of PHBV Partners LLP, the government health care practice and separate legal entity of CliftonLarsonAllen.
The transaction is expected to add approximately $30 million to CBIZ revenue and approximately $0.04 - $0.05 to diluted earnings per share for 2013.
Myers and Stauffer LC simultaneously announced its acquisition of the attest business of PHBV Partners. CBIZ maintains an administrative service agreement with Myers and Stauffer.
PHBV is a professional consulting and accounting service provider specializing in health care compliance on behalf of federal and state government agencies. PHBV specializes in Medicare and Medicaid contract compliance, investigative services, performance auditing, and audits of Medicare Advantage and prescription drug program.
With regional offices in Richmond, Va.; Baltimore, Md.; Indianapolis, Ind.; Austin, Texas; Cranford, N.J. and Raleigh, N.C., PHBV is expected to add approximately 185 employees to CBIZ.