Evan Krinick (JIM LENNON)
Long Island’s Rivkin Radler has agreed to acquire Iseman, Cunningham, Riester & Hyde, a 16-lawyer shop with two New York offices in Albany and Poughkeepsie.
The tie-up, to be announced Wednesday afternoon, comes amid signs of increased consolidation for small and mid-sized firms in the New York market. Rivkin Radler, which will keep its current name after absorbing Iseman Cunningham, will grow to about 180 lawyers as a result of the combination.
Once its merger with Iseman Cunningham is completed on July 1, Rivkin Radler will have two offices in upstate New York to pair with its current locations in Hackensack, New Jersey; Manhattan; and Uniondale, New York. The two firms expect to have one of the largest health care practices in the northeast region, with upwards of 20 lawyers working exclusively in that practice area.
“This gives us the depth and experience to represent all different aspects of health care providers, be it hospitals, ambulatory surgery centers [or] doctor groups,” said Evan Krinick, who became Rivkin Radler’s managing partner in 2013. Krinick said the merger will allow his firm, which has a sizeable insurance coverage group, to “provide a full range of legal services” in the ever-evolving field of health care law.
Rivkin Radler currently has 166 lawyers, but almost 150 of that total are located in firm’s Long Island office in Uniondale, located near the newly renovated Nassau Veterans Memorial Coliseum. But Rivkin Radler has recently made strides to expand its geographic footprint, having recently turned its regional attention upstate as the demand of certain clients shifted, Krinick said.
“I was always impressed with [Iseman Cunningham's] professional excellence and their commitment to their clients, so when we decided we were looking for an upstate presence, [they] were the only firm that we reached out to,” said Krinick, who is also a columnist for the New York Law Journal.
Founded in 1991, Iseman Cunningham has represented several big names in the Empire State health care arena, including Albany’s St. Peter’s Health Partners and Catholic Health Services of Long Island.
“They’re a bigger firm [and] for us we realized we can provide such greater depth and breadth of practice areas to our existing clients,” said Iseman Cunningham managing partner John Queenan, who will become a partner at Rivkin Radler. “We’ve known each other for many years. In terms of a fit, we match up very well together.”
In addition to their health care practice, Iseman Cunningham also specializes in complex litigation and large-scale commercial transactions. Within the past year, many regional firms in New York have turned to mergers as a means of remaining competitive in a tight legal market, with Krinick noting that Rivkin Radler’s acquisition of Iseman Cunningham is no exception.
“Clients are looking for depth and looking for talent,” Krinick said. “And the best way to acquire depth and talent is to have a larger enterprise. It is a necessary part of thriving in this business community [and there's] no better way to get it than to go into business with people you already have a good relationship with.”
The Iseman Cunningham merger won’t be the last for Rivkin Radler, Krinick said, adding that his firm is actively considering other potential expansion opportunities in the region. Krinick, who said his firm did not work with a legal consultant on the Iseman Cunningham deal, declined to discuss specifics about other potential acquisitions by his firm.
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