Auxilio Signs Definitive Agreement to Acquire Redspin
Mission Viejo, CA - 
(NewMediaWire) - March 31, 2015
- Auxilio, Inc. (OTCQB: AUXO), a leading provider of Information
Security Services for the healthcare industry, today announced the
signing of a definitive acquisition agreement with Redspin, Inc.
The Carpinteria, CA-based company will be integrated into Auxilio's
Security Solutions Group.
Redspin, a leading provider of HIPAA security risk assessments
and penetration testing services, is a trusted advisor to the
healthcare industry. Staffed by a world-class team of security
experts, Redspin helps its clients better safeguard protected
health information (PHI) by protecting their IT infrastructure from
malicious attackers and improving the security awareness of their
workforce. The company's diverse customer base includes over 135
hospitals, including a top 5 academic medical center, over 1,000
clinics, and many large business associates.
"We are excited to announce this acquisition and welcome the
Redspin team to Auxilio," said Joseph J. Flynn, President and CEO
of Auxilio. "They are a well-respected leader in providing
risk assessment and penetration testing services, which perfectly
complements our Security Solutions portfolio. This acquisition
fits squarely with our strategy of identifying complementary
technology and services, led by dynamic leaders who understand the
market, have the ability to scale and who can help us take this
business to the next level," continued Mr. Flynn.
The transaction is expected to close during the next few
weeks. Details regarding the consideration, financials, and
additional information regarding the acquisition will be disclosed
in a current report, which will be filed with the SEC in the next
few days.
Redspin is a strategic fit with Auxilio's Security Group by both
complementing and further improving its end-to-end security
offering. Redspin will enable Auxilio to not only effectively
complete the risk assessment at the beginning of the process but
also enable ongoing assessment for vulnerabilities once the
information security program has been instituted. Redspin currently
services a major Auxilio Security Group customer and
cross-marketing strategies are expected to yield additional
customer wins during 2015.
"We are very enthusiastic about joining Auxilio and are
completely aligned with their vision to become a relevant player in
healthcare security services, a vertical which currently has no
defined leader. Our services fit perfectly within the Security
Group's current offering and our customer base of 135 hospitals
offers ample room to capture additional market share through the
entire suite of security services," elaborated Daniel W. Berger,
President and CEO of Redspin.
"Healthcare organizations are fighting very complex security
battles against sophisticated enemies and they need dynamic
world-class teams to help them. With the addition of Redspin, we
add significant capability to our already-proven team, establishing
the clear go-to security services provider for healthcare,"
concluded Mike Gentile, Auxilio's Executive Vice President of
Innovation and Security.
About Auxilio, Inc.
Since 2004, Auxilio has led the Managed Print Services industry
by offering an innovative and customer driven approach for
healthcare organizations. Auxilio 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.
Auxilio serves a national portfolio of nearly 200 hospital
campuses and manages over 1.5 billion documents annually from over
90,000 devices supporting over 280,000 caregivers. Auxilio'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.
Through its Security Solutions Group, Auxilio provides IT
security consulting and a SaaS technology solution, Delphiis ™ IT
Risk Manager, bringing a unique offering to the marketplace to
ensure enterprise-wide security and improve patient experience
through its ability to mitigate risk and improve efficiency across
the hospital or health system.
For more information about Auxilio, visit http://www.auxilioinc.com
Forward Looking Statements
This release contains certain forward-looking statements
relating to the business of Auxilio, 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. Auxilio, 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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