Lisburn-based Exchange Accountants has acquired specialist medical accountancy practice MedFinancial, expanding its workforce to 20 and adding a dedicated niche capability in healthcare finance to its existing suite of services, as reported by Business First Online. The acquisition marks the third such move by Exchange in six years, reinforcing a clear growth-through-acquisition strategy at the firm.

Business First Online reported that MedFinancial will retain its name but now operate as a limited company, MedFinancial Accountants Ltd, providing accountancy, taxation and business advice tailored to the medical profession from qualification to retirement. The client base served includes GP practices, locum and portfolio career doctors, hospital consultants, hospital doctors and registrars.

All MedFinancial staff and management have relocated to Exchange Accountants' headquarters at Oakmont House in Lisburn. Former MedFinancial principal Sharon Hamilton will remain in the business in a consultant capacity.

William Gould, director of Exchange Accountants, said the practice was always looking for opportunities to expand and added: "MedFinancial was a very attractive proposition in so far as the practice was already based in Lisburn and offers a niche service, i.e., the medical sector, that would complement our existing suite of services very well. We already have a number of medical clients within the Exchange portfolio, including consultants, dentists, opticians, but this move gives us a much stronger specialism in the medical sector."

Gould also noted that the acquisition enhances medical expertise for existing clients while giving MedFinancial clients access to the full Exchange service offering, including specialist tax planning, cloud accounting and digital capabilities.

Hamilton, who founded MedFinancial in 2020, said the move represents a new chapter for the practice and gave assurances to clients that service continuity would be maintained, adding that access to the additional resources and expertise of a larger firm would only strengthen what MedFinancial clients receive.

Established in 2011, Exchange Accountants serves a wide range of locally based SMEs and individuals. The firm was the first accountancy practice in Northern Ireland to achieve Xero Gold Partner status, later advancing to Platinum Partner status with the cloud accountancy software provider in 2021. The previous acquisitions were Fitzmaurice McConville & Co in 2019 and a further smaller local practice.

Get the full details on Exchange Accountants' acquisition of MedFinancial.