VirnetX Zero Trust Technology Implemented by Neurofeedback Company, IASIS Technologies

Rhea-AI Summary

VirnetX Holding Corporation (NYSE: VHC) announced the adoption of its Zero Trust Networking Technology by IASIS Technologies International to enhance data protection in health technology. This partnership addresses critical data security needs amidst rising ransomware threats, with a notable 34% of healthcare organizations affected in 2021. IASIS is involved in a federally funded study on m-TBI and PTSD, emphasizing the necessity for robust data recovery solutions. VirnetX's technology aims to improve data integrity and availability, aligning with the federal government's recommendation for zero trust security in organizational strategies.

Positive

• Collaboration with IASIS enhances VirnetX's market presence in the healthcare sector.
• Zero Trust Networking Technology addresses critical data protection against ransomware threats.
• Growing demand for zero trust security solutions aligns with governmental recommendations.

Negative

• Potential over-reliance on a single partnership for revenue growth.
• Risks associated with the healthcare industry's vulnerability to cyberattacks.

ZEPHYR COVE, Nev., Jan. 18, 2022 /PRNewswire/ -- VirnetX™ Holding Corporation (NYSE: VHC), an Internet security software and technology company, announced today that IASIS Technologies International ("IASIS"), a global leader in healing through neurofeedback technology, announced the implementation of Asgard's Zero-Trust EverSafe Backup and Disaster Recovery solution built on VirnetX's encrypted Zero Trust Networking Technology to support the critical nature of IASIS' operations and protect the electronic protected health information of its clients.

VirnetX's Zero Trust Networking Technology with EverSafe protects data backups, data in transit, and data at rest on private secure domains, separate and invisible from the public Internet, therefore ensuring data integrity and availability.

Ransomware is one of the biggest threats to health care technology organizations with 34% being hit with ransomware in 2021. Importantly, over 30% of the data ransomed in these widespread health care attacks was never restored after the ransom was paid, making backup data protection of paramount importance. Secure backup and recovery capabilities are the last line of defense against ransomware. Additionally, zero trust security is now recommended by the Federal Government as a critical component of any security strategy with 76% of organizations in the process of implementing zero trust security.

"IASIS is currently in year three of a four year federally funded double blind study with UC San Diego and the Veterans Administration for m-TBI and PTSD treatment of our military personnel. Because of the proprietary nature of the IASIS technology, federal agency funding, and the significant data our technology generates, only the strongest form of data recovery and zero trust protection would meet the standards IASIS has brought to the field of mental health treatment. This is why we chose Asgard's Zero Trust EverSafe Disaster Recovery Services for our company," said IASIS Co-founder Barry Bruder.

"VirnetX Zero Trust Networking Technology enables EverSafe to improve upon Veeam Software's best in class backup and recovery platform with unparalleled levels of zero trust security delivering the most secure data protection available anywhere to our clients. We are singularly focused on our client's uptime availability and EverSafe with Virnetx Zero Trust Networking Technology achieves that," said Asgard Chief Executive Officer Brian Waltermire.

About VirnetX

VirnetX Holding Corporation is an Internet security software and technology company with patented technology for secure communications including 4G LTE and 5G security. The Company's software and technology solutions, including its secure domain name registry and Gabriel Connection Technology™, are designed to facilitate secure communications and to create a secure environment for real-time communication applications such as instant messaging, VoIP, smart phones, e-Readers and video conferencing. The Company's patent portfolio includes over 190 U.S. and foreign granted patents, validations and pending applications. For more information, please visit www.virnetx.com.

About IASIS

IASIS was founded in 2010 by Laura and Barry Bruder. Barry had been certified as a Low Energy Neurofeedback System ("LENS") Provider and found it very helpful for numerous conditions. While he valued his experience working as a LENS Provider, he was convinced there was a more elegant means of administering such a technology, but with less reactivity, yet able to achieve 'Enduring Sustainability' in a more rapid yet orderly period. For more information, please visit www.microcurrentneurofeedback.com.

About Asgard Managed Services

Asgard is the leader in zero trust cloud backup and data recovery solutions servicing clients ranging from government municipalities to the small enterprise organization. Located in New York, New York, Asgard leverages data centers around the world to provide these much needed zero trust data recovery solutions to its valued clients wherever they may be. For more information, please visit www.asgardmsp.com.

Forward-Looking Statements

Statements in this press release that are not statements of historical or current fact may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on expectations, estimates and projections, and certain assumptions made by management and involve known and unknown risks, uncertainties, and other unknown factors that could cause actual results to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements, including but not limited to, statements regarding the implementation of EverSafe, the benefits of VirnetX's Zero Trust Networking Technology, and expectations regarding future product performance. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in VirnetX's reports and registration statements filed with the Securities and Exchange Commission, including those more fully described in VirnetX's Quarterly Report on Form 10-Q filed on November 8, 2021 and subsequent filings with the Securities and Exchange Commission, as applicable. Many of the factors that will determine the outcome of the subject matter of this press release are beyond VirnetX's ability to control or predict. Except as required by law, VirnetX is under no duty to update any of the forward-looking statements after the date of this press release to conform to actual results.

Contact:

Investor Relations
VirnetX Holding Corporation
415.505.0456
ir@virnetx.com

 

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SOURCE VirnetX Holding Corporation

FAQ

What is the significance of the partnership between VirnetX and IASIS Technologies?

The partnership enhances data protection in healthcare, addressing security against ransomware threats.

How does VirnetX's Zero Trust Networking Technology work?

It protects data by keeping it on secure domains separate from the public internet, ensuring integrity and availability.

What are the implications of ransomware on healthcare organizations?

In 2021, 34% of healthcare organizations faced ransomware attacks, highlighting the need for robust data protection.

Why is zero trust security recommended by the Federal Government?

Zero trust security is recommended to enhance protection against cyber threats, crucial for organizations handling sensitive data.

When was this partnership between VirnetX and IASIS announced?

The partnership was announced on January 18, 2022.