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Strategic Alternatives and Buy-Side Advisory
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We are pleased to announce the successful acquisition of CynergisTek, Inc. by 555 Capital client, Auxilio, Inc. (NYSE MKT: AUXO), a leading provider of complete document workflow solutions and IT security services for the healthcare industry. CynergisTek is an Austin, Texas-based leader in healthcare cybersecurity and privacy 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.
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“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 the IT security platform.”
– Joe Flynn, CEO, Auxilio, Inc.
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Founded in 2004, Auxilio began as a Managed Print Services provider, offering value-driven document workflow solutions to hospitals and healthcare providers. Since that time, the Company has grown to become the first vendor-neutral, vertically integrated business to improve efficiency and security of printed and digital patient health information, exclusively for the healthcare industry.
“We have long stated our desire to expand our reach in healthcare IT security and this acquisition puts us in an immediate leadership position in the category,” stated Auxilio CEO, Joe Flynn. “While CynergisTek will continue to operate independently, there are numerous opportunities for mutually assisted growth over the near term and we foresee the ability to offer services under a combined umbrella over time. This is a truly unique fit and we could not be more excited to complete this transaction.”
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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.
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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.
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