Richmond, Va. (March 24, 2004) -- Wading into the health care practice niche, Cherry, Bekaert & Holland LLP, a large regional accounting and consulting firm here, acquired Healthcare Business Solutions LLC, a local health care consulting concern.

Terms were not disclosed. A firm representative said HBS was the first health care acquisition for the firm.

Concurrent with the acquisition, CB&H has created the Healthcare Business Solutions division, a unit that provides practice management and consulting services to physicians, dentists and other health care providers.

Cherry, Bekaert & Holland ranked No. 29 on Accounting Today’s 2004 Top 100 Firms list, generating roughly $59 million in revenue for its last fiscal year with offices in seven states.

Prior to acquiring HBS, Cherry, Bekaert & Holland’s latest acquisitions were Offutt Childers & Putnam, a local CPA firm in Vienna, Va., last May, and a small Tampa, Fla.-based firm in September.

-- WebCPA staff

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