Largest Contract in Company’s History Includes Expansion into the Midwest
Mission Viejo, CA – March 18, 2015 – CynergisTek, Inc (OTCQB: AUXO), a leading provider of Managed Print Services (MPS) and IT Security Consulting for the healthcare industry, announced today a five-year contract for Managed Print Services with one of the largest health systems in the United States after it merged with an existing CynergisTek customer.
The contract extends and expands CynergisTek’s services agreement with the entities currently under contract. The expansion of services is expected to generate more than $50 million in revenue over the next five years. The system’s coast-to-coast coverage across 21 states expands CynergisTek’s footprint into the Midwest, an area where the company previously had no presence.
This contract is the largest in CynergisTek’s history and confirms the distinguished leadership position the company has earned in the U.S. healthcare industry through its unique vendor neutral MPS solution methodology. Its proven approach to cutting costs by improving operational efficiencies related to document production and information sharing in modern hospitals is completely unique in this industry.
“We are honored to have been chosen by this distinguished health provider to implement our cost saving MPS across their entire system, including both caregivers and administrators,” said Joseph J. Flynn, President and CEO of CynergisTek. “We have a proven track record of providing the highest standards of excellence for our customers. This contract solidifies our ability to guarantee cost efficiencies and process improvement methodologies in a health system with a true nationwide presence allowing caregivers to focus on what’s important, the patient. In conjunction with recent wins, this provides us with visibility to deliver meaningful growth during the next 2 years. ” continued Mr. Flynn.
The demand for hospitals to reduce costs through increased operational efficiencies is precisely aligned with CynergisTek’s MPS strategy and the reason so many top health systems nationwide have chosen CynergisTek as their provider. CynergisTek’s ability to execute a system-wide managed print strategy is unmatched in the industry creating long-term sustainable volume reduction in the print infrastructure while improving end-user productivity.
About CynergisTek, Inc.
Since 2004, CynergisTek has led the Managed Print Services industry by offering an innovative and customer driven approach for healthcare organizations. CynergisTek takes full responsibility for healthcare customers’ on-site print environment through situation assessment, process analysis, strategy development and program implementation. Hospitals and health systems benefit from streamlined and aligned processes and infrastructure that result in print management programs that reduce cost, increase employee productivity and meet and exceed patient care standards.
CynergisTek, through its recent acquisition of Delphiis, an Information Security company providing IT Consulting and Managed Services, in addition to its IT Risk Manager SaaS technology solution, brings a unique offering to the marketplace to ensure enterprise-wide security and improve patient experience through cost-efficient print and digital information technology solutions.
CynergisTek serves a national portfolio of over 200 hospital campuses and manages over 1.5 billion documents annually from over 90,000 devices supporting over 280,000 caregivers. CynergisTek’s Managed Print Services’ business model is vendor neutral, provides full-time, on-site customer service and technical experts and is exclusive to the healthcare industry.
For more information about CynergisTek, visit https://cynergistek.com
Forward Looking Statements
This release contains certain forward-looking statements relating to the business of CynergisTek, Inc. that can be identified by the use of forward-looking terminology such as “believes,” “expects,” “anticipates,” “may” or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including uncertainties relating to product/services development, long and uncertain sales cycles, the ability to obtain or maintain patent or other proprietary intellectual property protection, market acceptance, future capital requirements, competition from other providers, the ability of our vendors to continue supplying the company with equipment, parts, supplies and services at comparable terms and prices and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our Form 10-K and Form 10-Q filings with the Securities and Exchange Commission, which are available at http://www.sec.gov. CynergisTek, Inc. is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
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