Cardio Diagnostics Holdings, Inc. Achieves SOC 2 Type I Compliance Certification for Security and Confidentiality

Rhea-AI Summary

Cardio Diagnostics Holdings, a leader in AI-driven cardiovascular medicine, has successfully completed its SOC 2 Type I audit. This certification highlights their commitment to data security and confidentiality. Achieving this compliance ensures the company meets stringent security standards set by the AICPA, providing trust for current and future partners. SOC 2 compliance is important in the healthcare sector, safeguarding sensitive patient data from breaches and ensuring adherence to HIPAA regulations. Tim Dogan, CTO, emphasized the importance of maintaining trust and the highest quality and compliance standards.

Positive

• Achieved SOC 2 Type I compliance certification, ensuring high data security standards.
• Independent audit confirmed controls relevant to security, availability, integrity, confidentiality, and privacy.
• Strengthens trust with current and prospective partners and customers by meeting AICPA standards.
• Demonstrates proactive approach to cybersecurity, important in the healthcare sector.

Negative

• No direct financial data or increase in revenue reported in the PR.
• The announcement does not detail any immediate financial benefits from achieving SOC 2 compliance.
• PR lacks specific figures or metrics to demonstrate the impact of compliance on business growth or stock performance.

CHICAGO--(BUSINESS WIRE)-- Cardio Diagnostics Holdings, Inc. (NASDAQ: CDIO), a leader in AI-driven precision cardiovascular medicine, today announced the successful completion of its System and Organization Controls (SOC) 2 Type I audit, achieving compliance with the leading industry standards for customer data security. This milestone underscores the Company’s unwavering commitment to the highest data security standards.

"Achieving SOC 2 Type I compliance reflects our dedication to maintaining the trust of our clients and adhering to industry best practices," stated Tim Dogan, Ph.D., Chief Technology Officer of Cardio Diagnostics. "We take our responsibility seriously, and this accomplishment demonstrates our prioritization of the security and confidentiality of customer data."

Cardio Diagnostics’ clinical solutions, Epi+Gen CHD and PrecisionCHD, and data intelligence platform, HeartRisk, deliver value to major healthcare stakeholders including providers, patients, employers and payers. The Company underwent an independent audit to validate its controls relevant to security, availability, integrity, confidentiality, and privacy meet the stringent SOC 2 standards established by the American Institute of Certified Public Accountants (AICPA). The certification provides a greater level of trust for both current and prospective partners and customers.

The Importance of Cybersecurity in Healthcare

In an era where digital technologies such as electronic health records and telemedicine are transforming healthcare, robust cybersecurity is paramount. Data breaches can result in significant financial repercussions and erode patient trust. Healthcare organizations must, therefore, implement rigorous cybersecurity measures to protect patient information and comply with HIPAA regulations.

Cybersecurity risks in healthcare are particularly acute due to the highly sensitive nature of patient data. Breaches can expose patients to identity theft, disrupt medical services, and compromise patient care. The increasing sophistication of cyber-attacks, including ransomware and phishing schemes, necessitates that those serving patients, including healthcare technology companies, adopt comprehensive security frameworks to safeguard their systems and data.

The Role of SOC 2 in Meeting Cybersecurity Challenges

Achieving SOC 2 Type I compliance is a critical benchmark for organizations managing sensitive data, as it verifies that a company has implemented effective controls to protect against unauthorized access and data breaches. For healthcare companies, achieving SOC 2 compliance demonstrates a proactive approach to cybersecurity, emphasizing their commitment to maintaining the confidentiality and integrity of patient information.

Regular audits and updates to security protocols ensure that the organization remains vigilant against emerging threats. This compliance not only helps adhere to mandatory standards such as HIPAA but also significantly reduces the likelihood of data breaches and regulatory violations, enhancing the organization's reputation and competitive advantage.

"When healthcare providers and patients entrust us with their sensitive health information, we must operate to the highest standards of quality and compliance," Dogan added. "Cardio Diagnostics is proud to achieve this milestone as we continue to enhance our architecture and security."

About Cardio Diagnostics

Cardio Diagnostics is a pioneering company in AI-powered precision cardiovascular medicine, committed to making cardiovascular disease prevention, detection, and management more accessible, personalized, and precise. The company leverages a proprietary AI-driven Integrated Genetic-Epigenetic Engine ("Core Technology") to develop and commercialize clinical tests aimed at improving the prevention, detection, and treatment of cardiovascular disease. For more information, please visit www.cardiodiagnosticsinc.com.

Forward-Looking Statements

Certain statements and information included in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Act of 1995. When used in this press release, the words or phrases “will”, “will likely result,” “expected to,” “will continue,” “anticipated,” “estimate,” “projected,” “intend,” “goal,” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, many of which are beyond the control of the Company. Such uncertainties and risks include but are not limited to, our ability to successfully execute our growth strategy, changes in laws or regulations, economic conditions, dependence on results are discussed in the Current Report on Form 10-K for the period ended December 31, 2023, and Form 10-Q for the period ended March 31, 2024 under the heading “Risk Factors” in Part I, Item IA thereof, and other documents filed from time to time with the Securities and Exchange Commission. Such factors could materially adversely affect the Company’s financial performance and could cause the Company’s actual results for future periods to differ materially from any opinions or statements expressed within this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240610454839/en/

Investors:

Gene Mannheimer

Investor Relations

855-226-9991

investors@cardiodiagnosticsinc.com



Media & Public Relations:

Khullani Abdullahi

855-226-9991

pr@cardiodiagnosticsinc.com

Source: Cardio Diagnostics Holdings, Inc.

FAQ

What is the significance of SOC 2 Type I compliance for Cardio Diagnostics (CDIO)?

SOC 2 Type I compliance signifies that Cardio Diagnostics has effective controls in place for data security, meeting stringent standards set by the AICPA.

How does SOC 2 compliance benefit Cardio Diagnostics (CDIO) and its stakeholders?

Achieving SOC 2 compliance enhances trust and credibility with partners and customers, ensuring the confidentiality and security of sensitive data.

What does SOC 2 Type I audit involve for healthcare companies like Cardio Diagnostics (CDIO)?

The SOC 2 Type I audit involves an independent assessment of controls related to security, availability, integrity, confidentiality, and privacy.

Why is cybersecurity important for healthcare providers and companies like Cardio Diagnostics (CDIO)?

Cybersecurity is important for protecting sensitive patient data from breaches, ensuring compliance with HIPAA, and maintaining patient trust.

What impact does achieving SOC 2 compliance have on Cardio Diagnostics (CDIO)?

Achieving SOC 2 compliance demonstrates Cardio Diagnostics' commitment to data security, potentially enhancing its reputation and competitive advantage.