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CynergisTek Finishes Year Strong, Closes Largest 2-Year Managed Service Contract for 2021
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Rhea-AI Summary
CynergisTek (AMEX:CTEK) announces the signing of its largest multi-managed service contract of 2021 with a well-known managed care organization, expanding their long-term partnership that began in 2015. This 7-figure deal aims to enhance cybersecurity and compliance services through their Resilience Partner Program, which includes annual risk assessments and vendor management. The company reports exceeding sales goals and achieving the best annual bookings performance in three years, reinforcing its reputation as a trusted partner in the healthcare sector.
Positive
Signed largest multi-managed service contract of 2021, enhancing revenue.
Achieved best annual bookings performance in three years.
Expanded services under the Resilience Partner Program, bolstering client relationships.
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Large healthcare payer/provider and long-standing six-year client elevates its relationship with CynergisTek to include advanced solutions to combat cyber threats
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, today announced that it has signed the largest multi managed service contract of 2021 with a well-known managed care organization that has been a client since 2015. This 7-figure transaction expands on the partnership between CynergisTek and its client to provide the company’s flagship tailored multiyear Resilience Partner Program (RPP).
“We are pleased to announce that our company has just expanded our relationship with a client who we have worked with for the last six years, signing the largest multiyear contract of 2021,” said Mac McMillan, CEO, and President at CynergisTek. “This agreement represents our focus on our client relationships that build a strong renewal pipeline and represents the value we give our clients as the trusted partner for their cybersecurity, privacy, and compliance needs year in and year out,” he says. CynergisTek finishes Q4 by exceeding its goal for sales and posting the best annual bookings performance in the past three years.
CynergisTek’s signature Resilience Partner Program is designed to allow CynergisTek to work collaboratively with its clients to build a tailored set of services designed to help protect clients from cyber-related risks by building up their strategic defenses, improving operational efficiencies, and validating their programs work as expected. Under this Resilience Partner Program agreement, CynergisTek will provide annual risk assessments, medical device security, vendor security management, technical testing, and security control validation services. These services help healthcare organizations prioritize risk, maintain a constant eye on vulnerabilities associated with the expanding threat landscape, and ensure they have a strong and effective approach to risk that responds every day.
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.
