Forvis Mazars acquires The Innova Group

Forvis Mazars US, a top-tier accounting firm, has acquired The Innova Group as part of its strategy to bolster its healthcare consulting capabilities. The acquisition, effective on March 1, aims to expand Forvis Mazars' presence in a sector where it sees growing demand. The financial details of the deal remain confidential.

The acquisition brings The Innova Group’s team, including nine executives and approximately 50 professionals, under Forvis Mazars' banner. The integration will involve Innova’s workforce from Austin, Chicago, and Dallas mixing with the existing Forvis Mazars teams, with a new office opening in Tucson, Arizona. Founded in 1995 and based in Austin, Innova specializes in providing advisory services to hospitals and health systems nationwide, with clients that include the U.S. Department of Defense, Veterans Health Administration, and Indian Health Service.

Forvis Mazars US CEO Tom Watson cited the acquisition as a move to "meet our clients’ evolving needs," highlighting how Innova's expertise in strategy, finance, and facility planning will deepen the firm’s consulting capabilities. David Tate, Forvis Mazars' managing partner of healthcare consulting, noted that the move enhances their current service offerings, allowing for greater engagement with health system leaders and extending the scope of their services across the care continuum.

The acquisition aligns with a broader trend among accounting firms to diversify service offerings, particularly into high-demand sectors like healthcare. Forvis Mazars, which operates with more than 7,000 employees across all states and internationally, competes within an industry where firms are aggressively seeking to provide integrated services to navigate complex market environments.

In the coming months, Forvis Mazars will focus on integrating Innova's operations and leveraging their combined capabilities. The acquisition opens new avenues for growth and career advancement within the firm, though its success will depend on how well the integration delivers enhanced service efficiency and client satisfaction.