Clearwater Compliance to buy CynergisTek for $17.7M

Clearwater Compliance has agreed to acquire CynergisTek for $17.7 million in cash, bringing together the two healthcare cybersecurity companies.

Under the proposal, Austin, Texas-based CynergisTek would become a subsidiary of Clearwater, which is headquartered in Nashville, Tenn.

In a statement, CynergisTek President and CEO Mac McMillan said the deal will give the combined entity "greater flexibility to continue investing in innovation with the opportunity to scale as a managed service provider expanding and enhancing its service portfolio."

"Many industries, not just healthcare, are turning to MSPs for the support and expertise they need to meet today’s cyberthreats," Mr. McMillan stated.

The deal is expected to close in the third quarter of 2022.

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