Vereco, LLC, a provider of healthcare document services, today announced an asset acquisition of CynergisTek’s managed print services (MPS) business. CynergisTek is a provider of healthcare cybersecurity, privacy, and compliance. Vereco’s private equity partner, Stella Point Capital, invested additional equity to fund the transaction.
Acquisition Plans for CynergisTek
Post-acquisition, Vereco will have 230 employees operating in 49 states. The combined organization’s clients include more than 350 acute care facilities, including many of the nation’s largest and most prestigious health systems; 280 behavioral health facilities; and thousands of clinics and independent physician practices.
Current Vereco employees will continue to report to Chief Operations Officer Charlie Nickell. New Vereco employees coming from CynergisTek will continue to report to Sean Hughes, formerly CynergisTek’s EVP-Managed Print Services, now Vereco’s Executive Vice President of Operations. Sales and Marketing, Finance, Accounting, and Human Resources functions will immediately be integrated to provide administrative services to the combined company.
In addition, Vereco’s corporate headquarters will move from its current location in Laguna Niguel, California, to what has been CynergisTek’s MPS office in nearby Mission Viejo.
Impact of Acquisition for Vereco
“We’re thrilled to be acquiring CynergisTek’s highly-regarded MPS business,” said Vereco CEO Joe Flynn. “Our companies are similarly organized and complementary. We expect the combination will only improve our distinctive service model that has proven exceptionally impactful to our customers,” Joe continued.
“Combined, Vereco provides customers with the significant advantages of a company with national scope, including cost savings enabled by enhanced buying power, and an increased breadth of executive and operational talent. We’re excited by the prospect of bringing these increased benefits to our current and future clients,” Joe concluded.