Pershing Yoakley & Associates, a Knoxville, Tenn.-based healthcare accounting and consulting firm working primarily with health systems and hospitals, will merge Jan. 1 with GatesMoore, an Atlanta-based accounting and consulting firm working mostly with physicians.
Pershing Yoakley, GatesMoore to merge
PYA has about 130 employees plus additional offices in Atlanta; Austin, Texas; and Clearwater, Fla. In Modern Healthcare's latest list of the largest healthcare management consulting firms, PYA was 24th overall and the 12th largest privately owned firm.
The company will retain the Pershing Yoakley & Associates name, though PYA President Ed Pershing said in Georgia markets it will be known as PYAGatesMoore to "recognize their outstanding reputation in that service area."
GatesMoore has about 50 employees, and Pershing emphasized that this deal will not result in employee layoffs. In fact, he said, the opposite will happen as both companies saw record success in 2011.
"Both firms are entering this from a position of outstanding strength and not to gain efficiencies," Pershing explained. "We anticipate adding professionals, and zero cuts are anticipated and associated with this merger."
Merger discussions began two years ago, and Pershing said these talks did not originate with any projects on which they worked together.
"We actually referred work to each other over the years when we were facing potential conflicts," he said. "We were very mindful of their capabilities."
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