Healthcare Organizations Turn to Rubrik for Cyber Resilience as Company Hosts its First Industry Summit

Rhea-AI Summary

Rubrik, Inc. (NYSE: RBRK) is experiencing significant growth in its healthcare vertical, with a 50% year-over-year increase in Subscription ARR as of Q1 FY 25. The company serves over 300 hospitals, pharmaceuticals, clinics, and biotech companies, securing their critical data and applications. Rubrik is hosting its first Healthcare Summit on September 12, a virtual event for healthcare technology and security professionals. The summit will showcase the Rubrik Security Cloud Healthcare Dashboard for Epic, demonstrating how organizations can monitor critical Epic EMR apps in one place.

Healthcare industry leaders from North York General Hospital, UC Irvine Health, and Seattle Children's Hospital have praised Rubrik's solutions for enhancing cyber resilience and ensuring continuity of patient care. Rubrik Zero Labs reports that healthcare faces 50% more cyber threat attempts, with ransomware attacks impacting an estimated 20% of an organization's sensitive data.

Positive

• 50% year-over-year increase in Subscription ARR for healthcare vertical in Q1 FY 25
• Serves over 300 healthcare organizations, including hospitals, pharmaceuticals, clinics, and biotech companies
• Launching Rubrik Security Cloud Healthcare Dashboard for Epic to monitor critical EMR apps
• Positive testimonials from industry leaders praising Rubrik's cyber resilience solutions

Negative

• Healthcare sector facing 50% more cyber threat attempts according to Rubrik Zero Labs
• Ransomware attacks impacting an estimated 20% of organizations' sensitive data in healthcare

Insights

Financial Analyst

Rubrik's impressive 50% year-over-year increase in Subscription ARR in the healthcare vertical signals strong market demand and potential revenue growth. This momentum in a critical sector like healthcare could positively impact the company's overall financial performance. The expanding customer base, now including over 300 healthcare organizations, suggests a solid market position and recurring revenue streams.

The focus on cybersecurity for healthcare providers addresses a growing market need, potentially leading to sustained growth. However, investors should monitor customer acquisition costs and retention rates to ensure profitability. The upcoming Healthcare Summit and new product showcase may further boost sales pipeline, but concrete financial impacts remain to be seen.

Cybersecurity Expert

Rubrik's focus on healthcare cybersecurity is timely and strategic. With ransomware attacks increasingly targeting healthcare organizations, the sector's demand for robust cyber resilience solutions is escalating. The new Rubrik Security Cloud Healthcare Dashboard for Epic addresses a critical need by providing centralized monitoring for EMR applications, a vital component in healthcare IT infrastructure.

The company's ability to reduce recovery times from hours to minutes is a significant competitive advantage in an industry where downtime can have life-threatening consequences. However, as cyber threats evolve, Rubrik must continuously innovate to maintain its edge. The 20% of sensitive data impacted by ransomware statistic underscores the ongoing challenges and opportunities in this space.

Healthcare IT Specialist

Rubrik's growing presence in healthcare IT signifies a shift towards prioritizing data security and system resilience in the sector. The ability to quickly restore data integrity is important for maintaining continuity of patient care, as highlighted by the testimonials from healthcare CIOs and CTOs. The integration with Epic, a dominant EMR system, is particularly noteworthy as it addresses a key pain point for many healthcare providers.

The upcoming Healthcare Summit could serve as a valuable platform for knowledge sharing and product showcasing, potentially accelerating adoption within the industry. However, healthcare organizations often face budget constraints and complex regulatory requirements, which could impact the speed of widespread adoption. Rubrik's success will depend on its ability to demonstrate clear ROI and compliance benefits to healthcare decision-makers.

• Trusted Partner: The company serves more than 300 hospitals, pharmaceuticals, clinics, and biotech companies, securing their critical data and applications.
• Increased Growth: Rubrik achieves impressive growth across its healthcare vertical, with a more than 50% year-over-year increase in Subscription ARR as of Q1 FY 25.
• Healthcare Summit September 12, 2024: Virtual summit to highlight customer case studies, the continuity of patient care during cyber incidents and the introduction of the Rubrik Security Cloud Healthcare Dashboard for Epic.

PALO ALTO, Calif.--(BUSINESS WIRE)-- As ransomware attacks on healthcare organizations have become life-and-death situations for patients, more providers are turning to Rubrik, Inc. (NYSE: RBRK) to ensure continuity of patient care. In fact, the company has experienced impressive growth across its healthcare vertical, with a more than 50% year-over-year increase in Subscription ARR as of Q1 FY 25.

Driven by this market momentum and customer success, Rubrik invites all healthcare technology and security professionals to its first Healthcare Summit on September 12, a virtual event where attendees will gain insights on how to build a robust cyber resilience strategy. And, for the first time, the Rubrik Security Cloud Healthcare Dashboard for Epic will be on showcase. Along with live demos, attendees will uncover how their organization can monitor all their critical Epic EMR (electronic medical record) apps in one place. Register here.

Industry Luminaries Presenting at Rubrik’s Healthcare Summit

“With critical infrastructure, every second counts,” said Dennis Young, Director, Digital Health and CISO, North York General Hospital. “Because of Rubrik, in the event of any disruption, we remain confident that our systems can be back online quickly. The simplicity of Rubrik’s interface and its ability to integrate seamlessly with our existing systems has allowed our team to focus more on other critical areas of IT.”

"Rubrik allows us to significantly reduce recovery times in minutes instead of hours, which is a game-changer. Our partnership is essential as it lets stakeholders know the technology org is reliable and secure. Because when departments unite across healthcare organizations, one team stands together confidently in patient care continuity," said Jim Davis, CTO & VP of Technology, UC Irvine Health.

"We are in the patient business," says Zafar Chaudry, SVP - Chief Digital & Information Officer, Seattle Children's Hospital. "Everything we do focuses on delivering the best outcomes for the kids in our care. Cyber resilience is not just about technology—it's about restoring data integrity quickly when systems go down. With Rubrik, we secure millions of patient records, avoid significant recovery costs, and ensure seamless clinical operations. This is how we protect our mission of hope, care, and cure for the children we serve."

Addressing Critical Healthcare Data Security Challenges

Rubrik Zero Labs recently found that healthcare is facing as many as 50 percent more cyber threat attempts and that ransomware attacks have impacted an estimated 20 percent of an organization’s sensitive data.

"We design our solutions to minimize cyberattacks' impact on business operations; for our healthcare clients, our work is all for maintaining patient care continuity," said Rick Bryant, Field CTO of Healthcare at Rubrik. "When a cyberattack disrupts an EHR system, healthcare organizations cannot perform surgeries, admit patients, or even fill prescriptions. A move to paper and pen not only causes delays but additional risks. Therefore, a cyber resilience strategy is critical, and combined with our dashboard for Epic, customers can now have even more confidence that their EHR systems and applications are secure and recoverable.”

Additional Resources:

• ARIA S.p.A: Protecting the sensitive healthcare data of over 10 million Italian citizens
• Francis Crick Institute: Six of the world’s leading biomedical research organizations on how they manage sensitive data risk and GDPR compliance
• GSK: Data Security that Moves at the Speed of Science
• St. Luke’s University Health Network: Secures Millions Of Patient Records From Cyber Threats

About Rubrik

Rubrik (NYSE: RBRK) is on a mission to secure the world’s data. With Zero Trust Data Security™, we help organizations achieve business resilience against cyberattacks, malicious insiders, and operational disruptions. Rubrik Security Cloud, powered by machine learning, secures data across enterprise, cloud, and SaaS applications. We help organizations uphold data integrity, deliver data availability that withstands adverse conditions, continuously monitor data risks and threats, and restore businesses with their data when infrastructure is attacked.

For more information please visit www.rubrik.com and follow @rubrikInc on X (formerly Twitter) and Rubrik on LinkedIn.

SAFE HARBOR STATEMENT:

Any unreleased services or features referenced in this document are not currently available and may not be made generally available on time or at all, as may be determined in our sole discretion. Any such referenced services or features do not represent promises to deliver, commitments, or obligations of Rubrik, Inc. and may not be incorporated into any contract. Customers should make their purchase decisions based upon services and features that are currently generally available.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240906518138/en/

Meghan Fintland

Head of Global PR, Rubrik

925.785.9192

Meghan.Fintland@rubrik.com

Source: Rubrik

FAQ

What is Rubrik's growth rate in the healthcare vertical?

Rubrik (NYSE: RBRK) reported a more than 50% year-over-year increase in Subscription ARR for its healthcare vertical as of Q1 FY 25.

When is Rubrik hosting its Healthcare Summit?

Rubrik is hosting its first Healthcare Summit on September 12, 2024. It will be a virtual event for healthcare technology and security professionals.

What new product is Rubrik showcasing at the Healthcare Summit?

Rubrik will showcase the Rubrik Security Cloud Healthcare Dashboard for Epic, which allows organizations to monitor all their critical Epic EMR (electronic medical record) apps in one place.

How many healthcare organizations does Rubrik serve?

Rubrik serves more than 300 hospitals, pharmaceuticals, clinics, and biotech companies, securing their critical data and applications.

What are the key cyber threats facing the healthcare industry according to Rubrik Zero Labs?

According to Rubrik Zero Labs, healthcare is facing up to 50% more cyber threat attempts, and ransomware attacks have impacted an estimated 20% of an organization's sensitive data.