Berkeley Research Group announced Tuesday it has closed on its acquisition of fellow healthcare consultancy Prism Healthcare Partners, just two months after the deal was first announced.
The combined company, BRG | Prism Healthcare, will retain BRG's Emeryville, Calif., headquarters and will have annual revenue exceeding $225 million.
"We are thrilled to complete this deal and look forward to being better and stronger together," Tri MacDonald, BRG's president, said in a statement. "We now have the scale to serve any size client, providing complete solutions across all areas of operations, strategy and business analytics."
The new company will be privately held and co-managed by Paul Osborne, managing director of BRG's Healthcare Performance Improvement group, and Mukesh Gangwal, the former CEO of Chicago-based Prism.
BRG | Prism Healthcare has 350 healthcare consultants. Its consulting team averages more than 15 years of experience, and leaders say the practice will use analytics and clinical expertise to help healthcare providers improve margins, enable quality outcomes and deliver better value-based care.
The deal was originally expected to close June 3 when it was announced in May.