BKD CPAs & Advisors, a Top 20 Firm based in Springfield, Missouri, has acquired Strategic Sourcing Results, a health-care supply chain consulting firm based in Chicago, effective April 16.
SSR will become part of BKD’s Health Care Performance Advisory Services division, which includes more than 500 professionals, former hospital executives, physicians, nurses, service-line leaders, data scientists and CPAs. They help health care clients identify and implement revenue-generating and cost-saving opportunities.
Financial terms of the deal were not disclosed. No new partners are joining BKD as a result of the deal, but one managing director and two other people are joining the firm’s HCPAS division. As of June 1, 2020, BKD has approximately 2,900 total personnel, 300 partners and principals, and 1,400 CPAs. The firm ranked No. 14 on Accounting Today’s 2021 list of the Top 100 Firms, with $694.88 million in annual revenue.
Firms like BKD have been expanding into other areas of consulting to beef up their advisory business and help clients through the pandemic. Health-care supply chain services are especially important now, given the weaknesses in the supply chain exposed by the pandemic last year, when shortages in essential goods like personal protective equipment were acute and remain an issue today as well.
“With the addition of SSR to our firm, we’re able to expand our service capabilities related to supply chain, turnaround and margin improvement,” said HCPAS leader and BKD partner Steve LaFrance in a statement Wednesday. “I was immediately impressed with the culture, team quality and proven results at SSR.”
The new members will help BKD build its consulting services for health care clients who need advice on their supply chain. “BKD has a great reputation in the health care industry,” said SSR president and CEO Peter Stille in a statement. “I have admired BKD’s culture and thought leadership for several years.”
In March, BKD acquired another consulting firm,
