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MSSP Acquired: CynergisTek Buys Backbone Consultants

CynergisTek, a healthcare-focused MSSP, has acquired IT risk advisory services company Backbone Consultants, the two businesses confirmed. Financial terms were not disclosed.

Backbone generated approximately $3.6 million in revenues over the last 12 months, CynergisTek noted. The acquired business supports both healthcare and non-healthcare organizations and provides a variety of services, including:

  • IT Audit and Compliance: Performs an IT audit independently or in conjunction with an organization’s in-house staff.
  • Cybersecurity: Conducts security reviews and risk assessments to pinpoint and eliminate an organization’s security gaps.
  • Data Privacy: Ensures an organization can protect and secure data to comply with industry mandates.

Backbone’s services enable CynergisTek to provide additional IT risk audit services and European Union General Data Protection Regulation (GDPR) compliance support, CynergisTek CEO Caleb Barlow said. They also could help CynergisTek deliver California Consumer Privacy Act compliance services in the future.

A Closer Look at CynergisTek

CynergisTek provides compliance, cybersecurity, medical device security and privacy services. In addition, CynergisTek offers the Compliance Assist Partner Program (CAPP) and Vendor Security Management program as part of its signature managed services. CAPP provides ongoing compliance, privacy and security advisory support to healthcare organizations, and Vendor Security Management features ongoing vendor security monitoring and evaluation.

CynergisTek appointed Barlow to succeed Mac McMillan as its CEO earlier this year. It also recorded managed services revenue from continuing operations of $2.8 million in the second quarter of 2019, which represented a 13 percent year-over-year increase.

MSSP Mergers, Acquisitions and Investment List

MSSP alert has tracked numerous merger and acquisition deals across the market. A complete list of MSSP merger, acquisition and investment activity is here.

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