Marcum adds Abrix
Marcum LLP, a Top 100 Firm based in New York, has merged in the Abrix Group, based in the Chicago suburb of Northbrook, Illinois, expanding Marcum’s presence in the Midwest and adding more doctors and dentists as clients, effective July 1.
Abrix focuses on servicing medical and dental practices, along with individual practitioners. Its services include tax, accounting, business development, regulatory issues, Medicare fraud and abuse, practice mergers, practice valuations, profit formulas, and retirement planning and administration.
“The Abrix team brings exceptional talent, expertise and experience to Marcum’s Chicago region and to our national healthcare industry group,” said Marcum chairman and CEO Jeffrey Weiner in a statement. “We are delighted to welcome them to Marcum.”
The merger adds four partners and 22 associates to Marcum’s Illinois regional offices. Marcum has more than 2,000 associates across its firm, including more than 240 partners. Financial terms of the deal were not disclosed. Marcum’s revenues last year were $549.75 million, but Abrix’s revenues were not disclosed. Marcum ranked 15th on Accounting Today’s 2019 list of the Top 100 Firms.
“It is a tremendous opportunity for our firm to be able to bring the national resources of Marcum to our clients, while bringing a specialized focus on the practice side of the health care industry into their service mix,” stated Abrix managing partner Thomas Frank.
The deal will increase Marcum’s clients in the medical and dental professions. “Abrix’s unique expertise in the nuances of medical and dental practice management will be an additional asset to our health care clients regionally and nationally, as we continue to grow our presence in the Chicago area,” said Cary Buxbaum, Marcum’s regional managing partner in Illinois, in a statement.
Marcum has been doing a number of mergers in the past year and a half. In March, Marcum merged in Guyder Hurley, a firm headquartered in Braintree, Massachusetts, that specializes in servicing clients in the affordable housing industry. In January, Marcum added Dawson, Smith, Purvis & Bassett, a firm based in Portland, Maine. Last year, it combined with Silverman Kendall in Philadelphia, Raffa in Washington, D.C., Yarlas, Kaplan, Santilli, Moran in Providence, Rhode Island, Filomeno & Company in West Hartford, Connecticut, and GBH CPAs in Houston.