Healthcare Triangle Announces Strategic Partnership with Cynomi to Enhance Cybersecurity in Healthcare
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The alliance between Healthcare Triangle and Cynomi introduces a significant development in the realm of healthcare cybersecurity. This sector has become a prime target for cybercriminals due to the sensitivity and value of health data. The introduction of a Virtual Chief Information Security Officer service is a strategic move to address the cybersecurity talent gap, especially in organizations that cannot afford a full-time CISO. The vCISO service, powered by AI, represents an advancement in automating threat detection and compliance management, potentially reducing the time to identify and remediate vulnerabilities.
From a cybersecurity standpoint, the continuous assessment and enhancement of security postures is vital in an industry where data breaches can have severe consequences, not just financially but also in terms of patient trust and safety. The service's ability to conduct rigorous external scans across various digital assets is a proactive approach to cybersecurity, which is a departure from the reactive strategies that have been prevalent in the industry.
The partnership between Healthcare Triangle and Cynomi could have a notable impact on the healthcare IT market. By providing a vCISO service, they are addressing a critical need within the healthcare sector for robust cybersecurity measures. The healthcare industry is increasingly reliant on digital technologies, making it more susceptible to cyber-attacks, which have been on the rise in recent years. This service could potentially lead to a new standard of cybersecurity and compliance for healthcare providers.
For investors, this partnership may signal Healthcare Triangle's commitment to innovation and staying ahead of market needs, which could translate into increased trust and business from healthcare providers. The focus on AI-driven solutions also indicates a forward-thinking approach that may appeal to investors looking for companies at the forefront of technological advancement in healthcare.
The collaboration between Healthcare Triangle and Cynomi could have financial implications for both companies. The demand for cybersecurity solutions in healthcare is expected to grow and by offering a scalable vCISO service, Healthcare Triangle may capture a larger market share. This could lead to increased revenue streams and potentially enhance its competitive positioning in the healthcare IT solutions market.
However, it is important to monitor the adoption rate of this service among healthcare providers. The initial costs and the perceived complexity of implementing such a solution may affect its uptake. Furthermore, as Healthcare Triangle is a publicly traded company, the market's reception of this partnership will be reflected in its stock performance. Positive outcomes from this collaboration, such as successful case studies or demonstrable ROI for healthcare clients, could positively influence investor sentiment.
PLEASANTON, Calif., April 04, 2024 (GLOBE NEWSWIRE) -- Healthcare Triangle, Inc. (Nasdaq: HCTI) (“Healthcare Triangle,” “HCTI” or the “Company”), a leading provider of healthcare IT solutions, is thrilled to announce its partnership with Cynomi, a pioneer vCISO platform vendor. This collaboration introduces an innovative Virtual Chief Information Security Officer (vCISO) service tailored specifically for the healthcare provider market, setting a new standard in cybersecurity and compliance.
The vCISO platform, powered by Cynomi’s cutting-edge AI technology, offers a comprehensive solution designed to continuously assess and enhance clients' cybersecurity and compliance posture. By implementing strategic cybersecurity remediation plans and, conducting continuous security assessments and executing rigorous external scans, the platform identifies and addresses critical vulnerabilities across externally visible IPs and URLs, including but not limited to ports, protocols, encryption, and websites.
This partnership aims to empower healthcare providers with complete visibility into their cybersecurity and compliance status, enabling them to effectively manage their cyber posture, maintain rigorous compliance standards, and significantly reduce their risk of cyber threats.
Anand Kumar, Interim CEO of Healthcare Triangle, underscored the importance of this offering, stating, "The United States is the number one targeted country in the world, with the healthcare industry being the most targeted vertical within. Our collaboration with Cynomi is poised to provide continuous security and compliance, safeguarding healthcare customers against the ever-evolving landscape of cyber threats." Many healthcare organizations across the country simply do not have the budget available to them for a full-time Chief Information Security Officer (CISO). The Cynomi solution gives organizations, without a CISO, the detailed insight into their security posture needed to help mitigate the risk of frequent cyber attacks seen in the healthcare provider space.
“Healthcare Triangle’s partnership with Cynomi is a testament of the company’s commitment to providing its clients with top quality cybersecurity. Healthcare Triangle is known for its adoption of top-notch technologies to support the healthcare industry, and we are thrilled to take part in this initiative which will enable healthcare organizations enjoy CISO-level security“ said David Primor, PhD, co-founder and CEO of Cynomi.
Healthcare Triangle’s partnership with Cynomi reflects a shared commitment to advancing healthcare cybersecurity. Through this collaboration, healthcare providers can now access a level of security and compliance previously unattainable, ensuring the protection of sensitive data and continuity of care.
About Cynomi
Cynomi’s vCISO platform empowers MSSPs, MSPs and consultancies to offer structured cybersecurity services to SMEs at scale and provide them with proactive cyber resilience.
Combining proprietary AI algorithms with CISO-level knowledge, Cynomi helps partners overcome the cybersecurity skill gap and scale their business, allowing them to offer new services and increase revenues while reducing operational costs.
To learn more about Cynomi’s solution for MSPs, MSSPs, and cyber consultancies visit www.cynomi.com.
About Healthcare Triangle
Healthcare Triangle, Inc. based in Pleasanton, California, reinforces healthcare progress through breakthrough technology and extensive industry knowledge and expertise. We support healthcare including hospitals and health systems, payers, and pharma/life sciences organizations in their effort to improve health outcomes through better utilization of the data and information technologies that they rely on. Healthcare Triangle achieves HITRUST Certification for Cloud and Data Platform (CaDP), marketed as CloudEzTM, DataEzTM and readabl.ai. 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, identity management, data lifecycle management, healthcare interoperability, and clinical and business performance optimization. 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 Annual Report on Form 10-K filed with the SEC on March 28, 2023, subsequent filings and future reports filed with the SEC. All 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
Investors:
1-800-617-9550
ir@healthcaretriangle.com
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