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CynergisTek (CTEK) has announced a significant six-figure service expansion with a prominent primary care practice in the Southern U.S. to enhance its security technology effectiveness. The agreement entails a comprehensive validation of the security controls across hundreds of practices and addresses potential risks associated with recent mergers. The firm will evaluate network-connected medical devices using a three-pronged assessment approach. This contract renewal underscores the growing demand for robust cybersecurity and compliance in healthcare, especially amidst ongoing pandemic challenges.
Positive
Six-figure service expansion with a major primary care practice enhances market presence.
Contract involves comprehensive validation of security protocols, showing the firm's growing expertise.
Focus on assessing risks from newly acquired practices indicates strategic growth.
Dependence on renewal of contracts suggests potential instability if client needs change.
Large primary care practice contracts with CynergisTek to assess and validate the effectiveness of their technology stack, medical devices, and recent mergers and acquisitions
AUSTIN, Texas--(BUSINESS WIRE)--
CynergisTek (NYSE American: CTEK), a leading cybersecurity, privacy, compliance, and IT audit firm helping organizations in highly regulated industries navigate emerging security and privacy issues, announces large six-figure service expansion with growing primary care practice located in the Southern U.S. for a full range of assessment and validation services.
In the agreement, CynergisTek will validate the organization’s security controls to determine the effectiveness of their people, processes, and technology against today’s threats in relation to the expected functionality of these controls. The organization has hundreds of primary care practices and is projecting fast merger and acquisition growth and has partnered with CynergisTek to perform technical, compromise, or program assessments to understand the security risks of the newly acquired practices. Lastly, network-connected medical devices are subject to additional risks, including illicit control over the device, and CynergisTek will utilize a three-prong approach to assess the client’s medical devices providing them with a categorized list of devices and their associated risks.
Healthcare is under tremendous pressure to provide trustworthy support to clinicians who are already stressed and stretched thin by the lingering pandemic. That requires building greater resilience into information systems and data services. “We’re honored that our client of seven years continues to value our expertise and the support our security and privacy consultants provide day in and day out through this renewal and expansion of services,” said Mac McMillan, CEO and President at CynergisTek. “Last year we re-tooled our services to focus on helping organizations build stronger and more resilient programs and this recent contract highlights the industry is moving in the right direction towards shoring up their defenses to combat and diminish the impact of cyber-attacks.” Cybersecurity is a patient safety issue as a recent study identified malware-related attacks with increased patient stays, delays in procedures and poor outcomes, increased patient diversions, increased complications, and an increase in mortality rates.
About CynergisTek, Inc.
CynergisTek (www.cynergistek.com), is a top-ranked cybersecurity consulting firm helping organizations in highly-regulated industries, including those in healthcare, government, and finance navigate emerging security and privacy issues. CynergisTek combines intelligence, expertise, and a distinct methodology to validate a company’s security posture and ensure the team is rehearsed, prepared, and resilient against threats. Since 2004, CynergisTek has been dedicated to hiring and retaining experts who bring real-life experience and hold advanced certifications to support and educate the industry by contributing to relevant industry associations. For more information, visit www.cynergistek.com or follow us on Twitter or Linkedin.
This release contains certain forward-looking statements relating to the business of CynergisTek, Inc. These forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and can be identified by the use of forward-looking terminology such as “believes,” “expects,” “anticipates,” “would,” “could,” “intends,” “may,” “will,” or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including but not limited to uncertainties relating to product/services development; long and uncertain sales cycles; the ability to obtain or maintain proprietary intellectual property protection; future capital requirements; competition from other providers; the ability of the Company’s vendors to continue supplying the Company with supplies and services at comparable terms and prices; the Company’s ability to successfully compete and introduce enhancements and new features that achieve market acceptance and that keep pace with technological developments; the Company’s ability to maintain its brand and reputation and retain or replace its significant customers; cybersecurity risks and risks of damage and interruptions of information technology systems; the Company’s ability to retain key members of management and successfully integrate new executives; the Company’s ability to complete acquisitions, strategic investments, entry into new lines of business, divestitures, mergers or other transactions on acceptable terms, or at all; potential risks and uncertainties relating to the existing and ultimate impact of COVID-19, including the geographic spread, the severity of the virus, the duration of the COVID-19 outbreak, actions that may be taken by governmental authorities to contain the COVID-19 outbreak or to treat its impact, and the potential negative impacts of COVID-19 on the global economy and financial markets, and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in the Company’s Form 10-K and Form 10-Q filings with the Securities and Exchange Commission, which are available at http://www.sec.gov. Given the risks and uncertainties, readers should not place undue reliance on any forward-looking statement and should recognize that the statements are predictions of future results which may not occur as anticipated. Many of the risks listed above have been, and may further be, exacerbated by the COVID-19 pandemic, including its impact on the healthcare industry. Actual results could differ materially from those anticipated in the forward-looking statements and from historical results, due to the risks and uncertainties described herein, as well as others not now anticipated. CynergisTek is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
