Auxilio, Inc. (OTCQB: AUXO) is a
leading provider of printer volume, device management and data security process
improvement solutions for many of the nation’s top hospitals and health
systems. Under its unique business model, the company takes full responsibility
for healthcare customers’ on-site print environment, providing hospitals with a
collection of potential benefits – including reduced operational costs,
increased employee productivity and improved patient care standards. Auxilio’s
extensive national portfolio currently includes a network of over 220 hospital
campuses managing over 1.5 billion documents each year.
In recent years, Auxilio has
utilized an acquisition-based growth strategy to rapidly increase its market
share in the healthcare industry. In 2014, the company acquired Delphiis, an
information security consulting and SaaS technology provider. Shortly after the
acquisition, Auxilio expanded its presence in the industry through the launch
of its security solutions group, which helps hospitals and health systems
develop strategies to mitigate risk. In March, the company built on this growth
through the acquisition of Redspin, a leading provider of security risk
assessment and penetration testing services for the healthcare industry.
“This [Redspin] 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,” Joseph J.
Flynn, president and chief executive officer of Auxilio, stated in a news
release.
In the first quarter of 2015,
Auxilio recorded $13.8 million in total revenue, realizing a 35 percent
year-over-year increase. In addition to improved results from its security
offerings, the company secured a five-year contract for managed print services
(MPS) with one of the largest health systems in the United States, which could
provide the company with revenue of more than $50 million over the next five
years.
“We are pleased to see the
initial stages of a new growth trend from both MPS and our security solutions
group and expect continued momentum through 2015,” continued Flynn. “Our goal
is to invest in areas of our business where we can garnish the best returns,
including business with shorter sales cycles and recurring, higher margin
revenues.”
For prospective shareholders,
Auxilio’s rapid growth within the medical industry makes it an intriguing
investment opportunity moving forward. As the company continues to expand the
market share of its security offerings and build on the established presence of
its MPS, Auxilio is in a strategic position to realize sustainable returns in
the years to come.
For more information, visit
www.auxilioinc.com
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