CardioComm Solutions Responds to Cyber Security Incident
- CardioComm is taking immediate action to investigate and address the cyber security incident.
- The company is working closely with KPMG-EGYDE, authorities, and cybersecurity experts to determine the source and extent of the data breach.
- Customer health information is not compromised as CardioComm's software is designed to run on each client's own server environments.
- The company is implementing identity theft precautions to minimize the impact on its staff.
- CardioComm is working with its auditor to finalize the required annual financial statements.
- The company expects to file the financial statements before the end of the 90-day Cease Trade Order (CTO) term.
- Once the filings are complete, CardioComm will apply for reinstatement for trading on the TSX Venture Exchange.
- None.
Toronto, Ontario--(Newsfile Corp. - July 25, 2023) - CardioComm Solutions, Inc. (TSXV: EKG) ("CardioComm" or the "Company"), a global medical provider of consumer heart monitoring and medical electrocardiogram ("ECG") software solutions, announces a cyber security incident on the Company's servers.
The Company has launched a comprehensive investigation to fully ascertain the source and extent of any data breach and is working closely with KPMG-EGYDE, relevant authorities and third-party cybersecurity experts to support these efforts in accordance with industry best practices.
CardioComm's business operations will be impacted for several days and potentially longer depending how quickly the Company is able to restore its data and re-establishes its production server environments. There is no evidence that customers' health information was compromised as a result of this attack since CardioComm's software is designed to run on each client's own server environments. Further, CardioComm does not collect patient health information from its clients. The Company has initiated identity theft precautions should any employee personal information have been compromised to minimize the impact on its staff.
The Company also provides an update respecting the Cease Trade Order (the "CTO") issued by the Ontario Securities Commission and the suspension of trading imposed by the TSX Venture Exchange due to the late filing of the Company's annual financial statements for the financial year ended December 31, 2022 (the "Financial Statements") and its management's discussion and analysis relating to the Financial Statements (collectively, the "Required Filings") before the prescribed deadline of May 1, 2023 (see the Company's press releases dated May 1, 2023 and May 10, 2023 for further details). Although unexpectedly delayed by the security incident, the Company continues to work with its auditor to finalize the Required Filings, which are anticipated to be filed prior to the end of the 90 day CTO term, following which the Company will apply for reinstatement for trading on the TSX Venture Exchange. The Company will provide updates as warranted.
To learn more about CardioComm's products and for further updates regarding HeartCheck™ ECG device integrations please visit the Company's websites at www.cardiocommsolutions.com and www.theheartcheck.com.
About CardioComm Solutions
CardioComm Solutions' patented and proprietary technology is used in products for recording, viewing, analyzing and storing electrocardiograms for diagnosis and management of cardiac patients. Products are sold worldwide through a combination of an external distribution network and a North American-based sales team. CardioComm Solutions has earned the ISO 13485 and ISO 27001 certifications, is HIPAA compliant and holds medical device clearances and sales licenses from the USA (FDA) and Canada (Health Canada).
FOR FURTHER INFORMATION PLEASE CONTACT:
Etienne Grima, Chief Executive Officer
1-877-977-9425 x227
investor.relations@cardiocommsolutions.com
Forward-looking statements
This release may contain certain forward-looking statements and forward-looking information with respect to the financial condition, results of operations and business of CardioComm Solutions and certain of the plans and objectives of CardioComm Solutions with respect to these items. Such statements and information reflect management's current beliefs and are based on information currently available to management. By their nature, forward-looking statements and forward-looking information involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements and forward-looking information.
In evaluating these statements, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not assume any obligation to update the forward-looking statements and forward-looking information contained in this release other than as required by applicable laws, including without limitation, Section 5.8(2) of National Instrument 51-102 (Continuous Disclosure Obligations).
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/174785
FAQ
What is the company affected by the cyber security incident?
Is customer health information compromised?
What actions is the company taking to address the incident?
What is the impact on business operations?
What is the status of the required financial filings?
Will the company apply for reinstatement for trading on the TSX Venture Exchange?
