Healthcare Triangle Confirms No Exposure to Silicon Valley Bank

Rhea-AI Summary

Healthcare Triangle, Inc. (HCTI) has announced that it does not hold any cash or maintain accounts at Silicon Valley Bank (SVB), nor does it have any business relationship with SVB. This clarification comes amidst broader market concerns regarding SVB’s financial stability. HCTI is a provider of cloud solutions and data analytics for the healthcare sector, emphasizing its HITRUST Certification for data protection. The company expresses confidence in its technology and industry expertise, aimed at aiding healthcare providers in improving health outcomes.

Positive

• HCTI has no business relationship or cash holdings at Silicon Valley Bank, alleviating investor concerns.
• The company's HITRUST Certification for data protection enhances its credibility in the healthcare sector.

Negative

• None.

PLEASANTON, Calif., March 13, 2023 (GLOBE NEWSWIRE) -- Healthcare Triangle, Inc. (Nasdaq: HCTI) (“HCTI” or the "Company"), a leading provider of cloud and digital transformation, managed services, and data analytics solutions for the healthcare and life sciences industry, confirms that it does not hold any cash or maintain any accounts at Silicon Valley Bank (SVB), and has no current or prior business relationship with SVB.

About the Healthcare Triangle

Healthcare Triangle, Inc. based in Pleasanton, California, reinforces healthcare progress through breakthrough technology and extensive industry knowledge and expertise. We support healthcare providers including hospitals and health systems, payers, and pharma/life sciences organizations in their effort to improve health outcomes. Healthcare Triangle achieves HITRUST Certification for Cloud and Data Platform (CaDP), marketed as CloudEz™ and DataEz™. HITRUST Risk-based, 2-year (r2) Certified status demonstrates to our clients the highest standards for data protection and information security. Healthcare Triangle enables the adoption of new technologies, data enlightenment, business agility, and response to immediate business needs and competitive threats. The highly regulated healthcare and life sciences industries rely on Healthcare Triangle for expertise in digital transformation encompassing the cloud, security and compliance, data lifecycle management, healthcare interoperability, and clinical and business performance optimization. For more information, visit www.healthcaretriangle.com.

Forward-Looking Statements and Safe Harbor Notice

All statements other than statements of historical facts included in this press release are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Such forward-looking statements include our expectations and those statements that use forward-looking words such as "projected," "expect," "possibility" and "anticipate." The achievement or success of the matters covered by such forward-looking statements involve significant risks, uncertainties and assumptions. Actual results could differ materially from current projections or implied results. Investors should read the risk factors set forth in the Company's Prospectus filed with the SEC on October 7, 2021, previous filings, subsequent filings and future periodic reports filed with the SEC. All of the Company's forward-looking statements are expressly qualified by all such risk factors and other cautionary statements.

The Company cautions that statements and assumptions made in this news release constitute forward-looking statements and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. The information set forth herein speaks only as of the date hereof. The Company and its management undertake no obligation to revise these statements following the date of this news release.

Contacts

Media:       Michael Campana michael.c@healthcaretriangle.com
Investors:  investors@healthcaretriangle.com

FAQ

What recent announcement did Healthcare Triangle, Inc. (HCTI) make about Silicon Valley Bank?

Healthcare Triangle, Inc. confirmed that it does not hold cash or maintain accounts at Silicon Valley Bank and has no prior business relationship with them.

How does Healthcare Triangle ensure data protection?

Healthcare Triangle has achieved HITRUST Certification for its Cloud and Data Platform, demonstrating high standards for data protection and information security.

What industry does Healthcare Triangle, Inc. (HCTI) serve?

HCTI provides cloud and digital transformation solutions primarily for the healthcare and life sciences industries.