CompassMSP Acquires TS Tech Enterprises for Healthcare IT Managed Services
CompassMSP has acquired TS Tech Enterprises, a managed IT services provider (MSP) that supports dental practices in the Wyomissing, Pennsylvania, area, the companies have confirmed.
The acquired MSP business has reach into Eastern Pennsylvania — particularly Philadelphia, Allentown and Harrisburg. TS Tech also services customers in New Jersey and Delaware, though the company’s overall customer footprint and headcount are undisclosed.
CompassMSP has acquired five IT service providers over the past two years or so. The other four buyouts have included:
- The early 2018 buyout of Redient, a Florida-based MSP.
- The buyout of Integrity Consulting Group in 2018.
- The mid-2017 buyouts of Cubed Group of Miami and WorldwideIT of Jacksonville.
CompassMSP Heads North
TS Tech Enterprises, meanwhile, apparently represents CompassMSP’s first foray into the Northeastern United States market. TS Tech President Todd Schorle, now a business integration and development executive at CompassMSP, explains the company’s managed services focus in this video:
In a prepared statement, CompassMSP CEO Tom Praschak said:
“We are delighted to welcome TS Tech to the CompassMSP family as they are led by a strong management team who share our vision, strategy and culture and who have built a mature operational model. TS Tech brings strong vertical expertise in the dental and medical industries and we look forward to maintaining and building their strong customer relationships. “
Moreover, CompassMSP continues to “pursue a targeted acquisition strategy” of strong vertical market MSPs in the SMB sector, Praschak added. The company has not disclosed how it is funding the acquisitions, nor has CompassMSP indicated whether the firm has private equity backing.