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CynergisTek Expands Relationship with Nationally Ranked Pediatric Hospital to Include Six-Figure Contract for Professional Consulting and Advisory Support
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Rhea-AI Summary
CynergisTek (CTEK) has expanded its partnership with a prominent U.S. pediatric hospital by signing a six-figure agreement for professional consulting services. This collaboration aims to enhance the hospital's cybersecurity measures amidst a growing threat landscape, with healthcare experiencing over 50% of ransomware attacks in the U.S. last year. The firm emphasizes the necessity of bolstering security through dedicated resources and expertise, addressing the nationwide shortage of cybersecurity professionals. This partnership aligns with CynergisTek's mission to strengthen healthcare's resilience against cyber threats.
Positive
The new six-figure agreement enhances CynergisTek's revenue stream.
Expansion into professional consulting services aligns with growing cybersecurity needs in healthcare.
Addresses the nationwide shortage of cybersecurity talent by providing dedicated resources.
Negative
None.
Midwestern children’s hospital extends partnership with CynergisTek beyond its two managed service agreements to include professional consulting services
AUSTIN, Texas--(BUSINESS WIRE)--
CynergisTek (NYSE American: CTEK), leading cybersecurity, privacy, compliance, and IT audit firm helping organizations in highly regulated industries navigate emerging security and privacy issues, announces it has signed another six-figure agreement with one of the largest pediatric hospitals in the United States. CynergisTek will provide professional consulting and advisory services to this client in order to bolster the security of their networks and systems for operations and patient care.
Cybercriminals are constantly targeting the healthcare industry, attempting to profit from the exploitation of their data and business. Healthcare accounted for more than 50% of the ransomware attacks that occurred in the U.S. last year, despite having to deal with the pandemic. Healthcare also has one of the largest attack surfaces of any digitally driven industry, with remote workforces, third party vendors, telehealth, and other facets of their business that extend where their data is stored, processed, and transmitted. These factors add to the complexity of protecting it, especially given the shortage of IT and cyber specialists. As a result, healthcare is turning to partners to assist them with everything from providing talent and resources to solutions and managed services.
CynergisTek is focused on providing services and solutions that assist clients in building resilience in their programs, enabling them to have greater confidence in their ability to participate in and respond to emerging cyber threats. “We have always prided ourselves on listening to our clients and providing the solutions they need most to solve the privacy and security challenges they face right now and in the future,” said Mac McMillan, CEO of CynergisTek. “This is a great example of that. Through our managed service efforts, we learned that this client wants to improve its overall security posture by accelerating its remediation activities, and our team will provide the resources and expertise needed through dedicated staff augmentation.” Acquiring and retaining qualified cybersecurity resources is a cross-industry, nationwide challenge. As of May 2021, there were approximately 465,000 open cybersecurity positions in America.
Healthcare organizations like this midwestern children’s hospital understand the importance of strengthening the resilience of their programs by enhancing their proactive cybersecurity strategies. This expanded partnership will help them to lower the risk of a cyberattack and achieve their cybersecurity goals, while supporting CynergisTek’s mission to strengthen the healthcare industry. Healthcare is a U.S. critical infrastructure and providers are on the front lines of our defense.
About CynergisTek, Inc.
CynergisTek 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. 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 the COVID-19 pandemic, including 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; the general economic impact of the ongoing war in Ukraine, including the impact of related sanctions being imposed by the U.S. Government and the governments of other countries, and the impact of potential reprisals as a consequence of the war in Ukraine and any related sanctions; 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, or the ongoing war in Ukraine. 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.
