MSPs Abacus Group, Medicus IT Merge Combining Health Care, Financial Services Muscle

Financial services-focused Abacus Group and health care services-focused Medicus IT, both of which are majority owned by FFL Partners, are merging, with plans to stay focused on both verticals and ensuring security, compliance, and governance remain keystones of the offerings.

Two MSPs majority-owned by the same private equity firm have merged to create a global powerhouse focused on providing managed and security services to the financial services and health care verticals.

Abacus Group, a global managed IT and cybersecurity service provider specializing in the unique needs of the financial services industry with dual headquarters in New York and London; and Medicus IT, a specialized IT service provider focused on the health care industry, have merged, said Anthony D’Ambrosi, CEO of Abacus.

Abacus Group was listed as No. 273 on CRN’s 2025 Solution Provider 500. Medicus IT was listed No. 371 in the Solution Provider 500.

The combined will keep the Abacus Group name, with D’Ambrosi as CEO, D’Ambrosi told CRN.

“Abacus Group is a global MSP with dual vertical industry focus,” he said. “We focused traditionally on financial services, and now we’re also equally focused on health care, predominantly health care providers, to be more specific, with a go-to-market strategy across the U.S., Canada, and EMEA (Europe, Middle East, and Africa). We’ve just added on basically an entire vertical industry company which looked a lot like us, a sister company in our portfolio under FFL Partners, to basically double our footprint from a size and scale perspective. We’re also hyper focused on cybersecurity and compliance as part of our MSSP value proposition.”

The deal, for which no dollar value was given, is being treated as a merger, D’Ambrosi said.

“It’s an internal merger within the FFL portfolio, so it’s more of a recapitalization than an acquisition because both companies had the same majority shareholder, which was FFL Partners,” he said. “So we’re actually merging these two businesses together. I’ll be the go-forward CEO of the combined entity. Chris Jann, who’s the founder and current CEO of Medicus, will be transitioning to a non-executive board role over the coming months with no operational response.”

The combined Abacus Group will result in an expanded global presence for the MSP, but its first priority is to focus on expanding its U.S.-based health care footprint, D’Ambrosi said.

“The U.S. is a strong market,” he said. “Most of our business footprint is with private institutions. If you’re involved in federal health care or some of the agency-based health care, you’ve seen quite a bit of, I’ll say, disruption or distractions. Most of our clients are urgent care, clinical care, ambulatory care. We are private sector health care-focused. So we’ve actually seen some decent tailwinds. Not every subsector of health care has been quite that tailwind-oriented, given what’s going on it from a federal perspective.”

With the merger, Abacus Group will double in size to 800-plus employees. D’Ambrosi said the company is hiring, and so the headcount will quickly approach 1,000 employees. Abacus Group and Medicus IT were similar in terms of revenue and margin, he said.

About 90 percent of Abacus Group’s clients are in financial services, while 90 percent of Medicus IT’s clients are in health care, he said.

“I want to be clear,” he said. “It’s a dual vertical strategy. It’s not a generalist MSP strategy. We believe that part of our differentiation is staying very focused on those two vertical industries, leading with compliance, cybersecurity, cloud, and IT operations. We think that’s a differentiated approach. … The integration component will come with leverage and synergy in global delivery and corporate shared services. But from a client-facing perspective, new client acquisition, client governance and expansion, those business units stay intact.”

When it comes to security, from a professional services perspective, there will be industry-specific security consulting and compliance for each business vertical, D’Ambrosi said.

“But when you peel back to security operations, there’s a lot of commonality, data governance, vulnerability management, incident response, a lot of the security businesses we’re in,” he said. “We will combine those to drive more scale and efficiency, no question. So there’ll be a thin layer of professional services, security consulting, HIPAA, PHI (protected health information), and SEC regulatory on the financial side, but most of the security operations are completely leverageable. There’s a lot of common data handling and data management practices between health care institutions and financial services institutions.”

D’Ambrosi said Abacus Group has no plans to expand its offering beyond its financial services and health care services verticals.

“Right now, we’re not planning on any more verticals,” he said. “We think the addressable market in these two for managed services and cyber is pretty darn good from an expansion perspective. We believe we can double the current company. So we kind of doubled by coming together. We think we can double again while staying in those two verticals.”