Updated April 12, 2015 1:04 p.m. ET
KPMG LLP has agreed to acquire the assets of health-care consulting firm Beacon Partners Inc., as the Big Four accounting and professional-services giant continues beefing up its services to clients in the health-care industry.
Financial terms aren't being disclosed for the deal, which KPMG announced Sunday.
Beacon Partners, based in Weymouth, Mass., provides management consulting services to hospitals, physician groups and other health-care providers. The firm has annual revenue of more than $60 million.
KPMG's agreement to buy Beacon is the latest step in the bigger firm's attempt to strengthen its position in the health-care industry, especially in terms of information technology. Health-care consulting is expected to grow significantly in the coming years as a result of the Affordable Care Act health-care law and trends like the growth of "big data."
Last June, KPMG bought Zanett Commercial Solutions, a Cincinnati-based technology-consulting firm with a significant focus on health care. KPMG also acquired Cynergy Systems Inc., a digital and mobile technology business, in February 2014.
"We really feel (Beacon) is another component of what will position KPMG as a leader in the health-care IT space," said Liam Walsh, the lead partner in KPMG's health-care consulting practice, in an interview.
The combination of the two firms "will provide our clients an even deeper level of service and expertise that will become increasingly important to health-care providers as they plan and implement their strategies for success over the next few years," Ralph Fargnoli, Beacon's president and chief executive, said in a statement.
The acquisition is another example of how KPMG and the other Big Four firms have been beefing up their consulting businesses in recent years. All four firms derive an increasing portion of their revenue from consulting, and some observers have expressed concerns that could take their focus away from their core business of auditing. The firms insist that isn't the case.
Write to Michael Rapoport at [email=Michael.Rapoport@wsj.com]Michael.Rapoport@wsj.com[/email]
http://www.wsj.com/articles/kpmg-to-buy-health-care-consultant-beacon-partners-1428843601
