FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Avidbank Provides $14MM Acquisition Term Loan to Auxilio

January 30, 2017, 07:00 AM
Filed Under: Technology

Avidbank Specialty Finance, a Division of Avidbank that specializes in technology and asset-based lending, has provided Auxilio with $14 million in acquisition financing and has renewed an existing line of credit.

Auxilio, Inc., based in Mission Viejo, California, is a leading provider of complete document workflow solutions and IT security services for the healthcare industry across the U.S.

“With Avidbank as a trusted partner, Auxilio was able to expand our reach in healthcare IT security with the acquisition of CynergisTek, putting us in an immediate leadership position in that category,” said Joe Flynn, CEO of Auxilio. “Avidbank was instrumental in the acquisition transaction, and we appreciated their support and expertise throughout the process.”

“We are pleased to assist Auxilio with their growth and to support them as they expand their market leadership. Our ongoing and mutually beneficial relationship with Auxilio is a prime example of our ability to advance our clients’ success on a long-term basis,” stated Jon Krogstad, Senior Vice President of Avidbank Specialty Finance, who led the transaction.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.