CynergisTek’s Second Quarter Renewals and Contract Expansions Exceed Firm’s Expectations
Leading Cybersecurity Firm Sees Increased Market Demand for Managed Service Solutions
Austin, TX — May 10, 2019 – CynergisTek, Inc., (NYSE AMERICAN: CTEK), a leader in healthcare cybersecurity, privacy, and compliance, today announced that, it has experienced a strong start to the second quarter by experiencing a 100% renewal rate for its Compliance Assist Partner Program (CAPP) customer contracts, including several hospitals such as Martin Luther King Jr. Community Hospital in Los Angeles, CA and Legacy Community Health in Houston, TX. Additionally, several of CynergisTek’s CAPP customers expanded their relationship by adding on additional privacy and cybersecurity services and offerings, including Patient Privacy Monitoring Services (PPMS) and Virtual Chief Information Security Officer (vCISO). This 100% renewal rate and service expansion highlights the value and benefit CynergisTek continues to provide to healthcare entities on an ongoing basis.
Ransomware and cyberattacks are on the rise, with constantly expanding attack methods and impact capabilities, healthcare is one of the top targets. In fact, a recent study showed healthcare companies currently report one- in- four of all cyberattacks in the United States. It is for this reason that hospitals and health systems across the nation—from smaller, private hospitals, to larger, multi-hospital health systems serving millions of customers—continue to look to CynergisTek as a trusted partner to help strengthen and maintain privacy, security, and compliance programs.
“Cybersecurity threats affect all entities across the healthcare ecosystem and we do not see any signs of this slowing down—in fact, this year we have already seen greater demand for our offerings and strong interest in our newer service offerings like medical device managed security services,” said Mac McMillan, CEO and President, CynergisTek. “Provider organizations often don’t have the resources they need to protect their organization from complex cyberattacks on their own, requiring them to lean on the assistance of a reliable security partner. CynergisTek is that trusted partner organizations are looking for; we have the proven experience and capabilities to provide our customers with the security, compliance, and privacy services they truly need so that they can focus on the core mission of providing superior patient care.”
CynergisTek’s CAPP provides privacy, security, and compliance expertise to help healthcare organizations mature security programs through routine assessments, testing, and ongoing advisory services. Working with CynergisTek, provider organizations can access the critical support needed to supplement internal resources in order to deploy and maintain successful cybersecurity and privacy programs.
About CynergisTek, Inc.
CynergisTek is a top-ranked cybersecurity, privacy, and compliance management consulting firm dedicated to serving the healthcare industry. CynergisTek offers specialized services and solutions to help organizations achieve privacy, security, and compliance goals. Since 2004, the company has served as a partner to hundreds of healthcare organizations and is dedicated to supporting and educating the industry by contributing to relevant industry associations. The company has been named in numerous research reports as one of the top firms that provider organizations turn to for privacy and security and won the 2017 Best in KLAS award for Cyber Security Advisory Services.
This release contains certain forward-looking statements relating to the business of CynergisTek that can be identified by the use of forward-looking terminology such as “believes,” “expects,” “anticipates,” “may” or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including uncertainties relating to product/service development, long and uncertain sales cycles, the ability to obtain or maintain patent or other proprietary intellectual property protection, market acceptance, future capital requirements, competition from other providers, the ability of our vendors to continue supplying the company with equipment, parts, supplies and services at comparable terms and prices and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our Form 10-K and Form 10-Q filings with the Securities and Exchange Commission, which are available at http://www.sec.gov. CynergisTek is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
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