555 Capital Advisors, LLC is proud to announce that its client Auxilio, Inc. (NYSE MKT: AUXO), a leading provider of complete document workflow solutions and IT security services for the healthcare industry, has acquired CynergisTek, Inc. as part of the Company’s plan to further enhance its IT security offerings. CynergisTek is an Austin, Texas-based leader in healthcare cybersecurity, privacy and compliance consulting.
555 was originally engaged by Auxilio to assist with corporate and strategic advisory services to increase shareholder value. 555 developed and presented the Board of Directors with a strategic alternatives analysis, plan and recommendations, which included expansion of the Company’s IT security offering.
As part of the overall services provided, 555 also assisted Auxilio with the development of acquisition criteria and provided buy-side advisory in its acquisition of CynergisTek, as well as in the Company’s earlier acquisition of Redspin, Inc. Both acquisitions greatly enhance Auxilio’s ability to meet the growing demand from healthcare customers for comprehensive IT security solutions that reduce risk and deliver long-term value.
“The acquisition of CynergisTek, is a truly unique fit and we could not be more excited to complete this transaction,” stated Joe Flynn, CEO of Auxilio. “555’s presentation to the Board included clearly stated options and a well-defined strategy. Andre’s guidance was instrumental in the execution of Auxilio’s plan to enhance shareholder value through expansion of our IT security offering.”
“We are pleased to have worked with Auxilio’s management team and Board of Directors and that they are pursuing and succeeding in executing the plan. The acquisition of CynergisTek will greatly increase Auxilio’s exposure in the healthcare IT security market, which is exactly what Auxilio is trying to accomplish,” commented Andre Guardi, Senior Managing Director at 555 Capital.
555 Capital Advisors is an independent investment bank that provides M&A, capital raise and strategic advisory services to middle-market companies in the business services, consumer, healthcare, manufacturing and technology sectors. Clients appreciate our thoughtful approach to guiding them through a transaction. We take care in applying 25 years of experience to help middle-market business owners clarify and fulfill their goals. For more information, contact us at 949-328-7255 or visit www.555capitaladvisors.com.