Combination of Clearwater, CynergisTek, and Recently Acquired TECH LOCK Positions Clearwater to Deliver Even Greater Value to Organizations Across the Healthcare Ecosystem and Other Highly Regulated Industries
NASHVILLE, TN (September 1, 2022) – Clearwater announced today that its planned merger with CynergisTek has been completed, bringing together two market leaders who are joining forces to serve the cybersecurity, privacy, and compliance needs of healthcare organizations, as well as those in other highly regulated industries. As a result of the transaction, CynergisTek is now a privately owned company and will operate as a subsidiary of Clearwater, aside Clearwater’s recently acquired TECH LOCK Division. Common mission, values, and customer focus among all three companies provide a strong foundation to create a clear market leader in healthcare cybersecurity and compliance.
In just over a month, Clearwater has combined with two other cybersecurity companies to create a solution set that includes a deep pool of experts across a broad range of cybersecurity, privacy, and compliance domains, proprietary purpose-built technology that enables efficient identification and management of cybersecurity and compliance risks, and a tech-enabled, 24x7x365 Security Operations Center with incident response capabilities. These services and technologies can be integrated into valuable and cost-effective managed services.
For the past three years, either Clearwater or CynergisTek has been named the top Security Advisors & Consultants in Black Book Market Research’s annual healthcare industry survey, which this past year drew responses from nearly 3,000 IT and security professionals representing nearly 900 provider organizations. Clearwater also has been named the top Compliance and Risk Management Solution Provider in the Black Book survey for the past six years in a row. In addition, TECH LOCK has been consistently recognized among the MSSP Top 250 by the leading industry publication MSSP Alert.
The merger of these three companies furthers Clearwater’s vision of building a recognized leader in cybersecurity, privacy, compliance, and risk management by offering the most comprehensive portfolio of products and services in the industry, all from a single, trusted partner.
“We are incredibly excited about creating a larger, more scaled organization that is even better positioned to support our customers and proactively address their cybersecurity and compliance needs,” said Clearwater CEO Steve Cagle. “Ransomware attacks and breaches continue to disrupt the delivery of quality patient care and cost the healthcare industry hundreds of millions of dollars. At the same time, the processes of identifying risks on an ongoing basis and establishing and executing effective cybersecurity programs continue to grow in complexity. Our customers need capabilities to effectively prevent, detect and respond to cybersecurity attacks.
“The combination of CynergisTek and Clearwater, bolstered by the additional managed security services and compliance services gained through Clearwater’s recent acquisition of TECH LOCK, equips us to deliver even greater value to organizations across the healthcare ecosystem and other regulated industries by creating a single solution provider that can address the industry’s growing list of cybersecurity needs,” Mr. Cagle continued. “We will continue to bring innovation to our customers and fulfill our commitment to be the healthcare industry’s premier partner for cybersecurity, privacy, and compliance solutions.”
As a result of the just completed merger with CynergisTek, Mac McMillan, Tim McMullen, and Paul Anthony will be leaving CynergisTek following a transition process. The remainder of the CynergisTek management team will continue to be an important part of the combined company’s management team.
“I’m incredibly proud of what we built at CynergisTek over the last two decades,” said Mac McMillan, CynergisTek CEO. “We have a legacy of contribution and service to both our clients and the healthcare industry as a whole focused on protecting the mission of care. Clearwater similarly has a legacy grounded in a commitment to healthcare. We have talked many times over the years about the opportunities that combining our two organizations could create. I look forward to seeing the tremendous things our teams can do together, in support of our customers.”
ArentFox Schiff LLP served as legal counsel to Clearwater. Kirton McConkie PC and Holland & Hart LLP served as legal counsel to CynergisTek.
Clearwater is a leading provider of cybersecurity, privacy, and compliance software, consulting, managed security services, and certification services for the healthcare industry and other highly regulated industries. Our solutions enable organizations to avoid preventable breaches, protect patients and their data, meet regulatory requirements, and optimize cybersecurity investments. Through its TECH LOCK Division, Clearwater provides 24x7x365 managed detection and response services that provide visibility to and mitigation of active threats. More than 400 healthcare organizations, including 70 of the nation’s largest health systems and a large universe of physician groups and digital health companies, trust Clearwater to meet their cybersecurity and compliance needs. For more information about Clearwater, please visit www.clearwatercompliance.com.
About CynergisTek, Inc.
CynergisTek is a top-ranked cybersecurity consulting firm helping organizations in highly regulated industries, including those in healthcare, government, and finance navigate emerging security and privacy issues. CynergisTek combines intelligence, expertise, and a distinct methodology to validate a company’s security posture and ensure the team is rehearsed, prepared, and resilient against threats. Since 2004, CynergisTek has been dedicated to hiring and retaining experts who bring real-life experience and hold advanced certifications to support and educate the industry by contributing to relevant industry associations. For more information, visit www.cynergistek.com or follow us on Twitter or LinkedIn.
Aria Marketing for CynergisTek & Clearwater