Cynergistek Inc. sold its managed print services business to Vereco LLC for $30 million.
Vereco is a Laguna Niguel, Calif.-based provider of healthcare document services.
The transaction includes all operations and assets of the managed print services. CynergisTek said $1.5 million of the purchase price is subject to future sales activity of the sold business.
The Mission Viejo, Calif.-based healthcare services company will use the proceeds to pay down majority of its existing debt, strengthening its balance sheet.
CynergisTek will continue operating its cybersecurity, privacy and compliance management consulting divisions.