The deal combines Axonius’ cyber asset intelligence with Cynerio’s clinical security expertise to help healthcare providers address growing risks tied to connected medical devices.
Axonius, specializing in cyber asset intelligence, announced that it has acquired Cynerio, a medical device security provider, for more than $100 million in a cash and stock transaction.
According to a release from the company, the acquisition aims to address a challenge facing healthcare providers: The rapid growth of connected medical devices has created a large, often unprotected attack surface. These specialized assets, according to the company, have typically been invisible to traditional security tools, posing risks to patient safety and hospital operations.
“Hospitals have been operating with a massive digital security blind spot,” says Dean Sysman, co-founder and CEO of Axonius, in a release. “The very devices essential for patient care, from infusion pumps to MRI machines, have been completely invisible to cybersecurity teams, creating a dangerous, unprotected attack surface. This acquisition will help end that.”
Sysman adds in a release, “By integrating Cynerio’s deep clinical expertise with Axonius asset intelligence, we can offer healthcare providers what they’ve been asking for: a single source of truth capable of securing their entire clinical environment.”
The integration of Axonius’ asset intelligence platform with Cynerio’s medical device security capabilities aims to address current hospital needs while supporting future Cyber-Physical Systems security efforts.
As part of the acquisition, Cynerio co-founder and CEO, Leon Lerman, will join Axonius as senior vice president. Co-founder Daniel Brodie will join the Office of the CTO. The Cynerio team joins Axonius to accelerate the company’s expansion into the healthcare market.
Piper Sandler served as financial advisor to Cynerio in the transaction. Additional terms of the transaction were not disclosed.
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