BPM’s Life Science Team Grows to Meet the Needs of Booming Biotech Industry
SAN FRANCISCO--(BUSINESS WIRE)--Feb 6, 2020--
BPM, one of the 50 largest public accounting and advisory firms in the country, welcomes new Partner Michael VanderKlugt to co-lead BPM’s Life Science Industry Group and help serve a growing number of diagnostic, therapeutic, medical device and digital health companies along the West Coast and beyond. He brings three decades of audit experience to the BPM team.
“Michael has a proven track record serving private and public companies in the life sciences industry as a seasoned audit partner,” said Brian Finnegan, BPM Partner and Assurance Practice Group Leader. “BPM is dedicated to serving our clients in this segment, and we’re excited to see Michael team up with Life Science Industry Group Co-leader Julie West to continue building the BPM brand in the marketplace.”
Michael comes to BPM after nearly 30 years at Deloitte, where he helped lead the life sciences team as it achieved significant growth. He will use this experience to continue to tackle the needs of the private companies in the growing industry, including adopting the new Revenue Recognition (ASC 606) and Lease Accounting (ASC 842) standards, applying for R&D credits and supporting their finance and accounting functions through technical accounting, valuation and staffing needs.
“In other industries, audit isn’t life or death – but it could be for a Life Science company’s customers,” Michael said. “These companies have a passion for the success of their products and developing something that can provide help to disease-stricken individuals. It’s a more positive environment, and I find myself getting linked into their goals. I want them to be successful, and not just from a financial perspective.”
As the life science industry continues to grow in emerging spaces, including digital health tools and biorenewables, BPM is investing in growing its team to provide clients in this space with the best tax, assurance and advisory resources available. In California alone, the National Institutes of Health (NIH) distributed $4.2B of funding in fiscal year 2018, more than any other state by at least 25%.
BPM’s Life Science Industry Group understands the need to manage for immediate and long-term value in the face of lengthy, high-cost research and development cycles, government approvals and difficult clinical trials, each of which significantly impact a company’s financial position.
BPM LLP is one of the 50 largest public accounting and advisory firms in the country. With more than 500 professionals along the West Coast – as well as offices in India and the Cayman Islands – we help clients succeed around the world. We offer a cross-functional team approach that gives clients direct access to the best and most qualified resources. To learn more, visit us at http://bpmcpa.com.
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CONTACT: Jessica Hekmatjah
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES HEALTH MEDICAL DEVICES CONSULTING PHARMACEUTICAL BIOTECHNOLOGY ACCOUNTING
SOURCE: BPM LLP
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PUB: 02/06/2020 05:00 PM/DISC: 02/06/2020 05:00 PM