Top 25 firm ParenteBeard LLC recently added the health care management consulting firm Presscott Associates Ltd. to its practice.

Presscott Associates will retain its name and operate as a division of ParenteBeard. The new addition allows ParenteBeard to expand throughout Connecticut, Delaware, Maryland, New Jersey, New York, Pennsylvania and Texas.

“This combination capitalizes on the strengths of each to create an organization recognized as both a CPA and health care management consulting firm, benefitting our clients and the larger business community,” ParenteBeard chairman and CEO Bob Ciaruffoli said in a statement.

Established in 1989, Presscott Associates comes with two partners and nine team members. Headquartered in Avon, Conn., the health care management consulting firm provides specialized services to hospitals, physicians, integrated delivery systems, national and regional health plans and life sciences and technology companies. Specialized services include economic value analysis, revenue chain management and strategic relationship management.

“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,” Presscott Associates president Neil Pressman said in a statement. “In combining with ParenteBeard, we are positioning ourselves to strengthen the range of personalized services we deliver.”

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