CynergisTek Announces Six-Figure Contract Renewal With Mid-Atlantic Health Network for Vendor Security Management Services
March 03 2022 - 7:00AM
Business Wire
Longstanding client renews VSM contract for ongoing management
of business associate risk
CynergisTek (NYSE American: CTEK), a leading cybersecurity,
privacy, compliance, and IT audit firm helping organizations in
highly regulated industries navigate emerging security and privacy
issues, recently announced a six-figure Vendor Security Management
(VSM) contract renewal for an additional three years with one of
the Mid-Atlantic region’s leading networks of healthcare providers.
CynergisTek will continue to support this client’s goal of
implementing and maintaining an effective third-party risk
management program while alleviating their internal workload and
demand on resources.
“The need for greater visibility into supply chain risk and
across the entire attack surface continues to grow and become more
important while the resources necessary for meeting this increased
demand continue to be scarce,” said Mac McMillan, CEO of
CynergisTek. “Our analysts and consultants can provide dedicated
support to assist organizations with this critical requirement.
Renewals like this one demonstrate the confidence our clients have
in our services and support the continued growth we are seeing in
managed service support.”
“Today, the risk that each organization’s supply chain poses to
its data and business is significant, and it’s only getting worse
as cybercriminals expand their focus on the leverage that can be
exacted by disrupting these critical suppliers. Recent breaches of
prominent companies such as Kaseya and Kronos demonstrate the
pressure that can be exerted on healthcare providers who have
embraced remote and cloud service providers. Couple this with the
number of critical staff now working remotely and depending on
third-party communications to execute their tasks, and you have
some real headaches for hospital CIOs and CISOs,” said Andrew
Mahler, Vice President of Compliance and Privacy Services at
CynergisTek. “Our managed service assists these organizations in
evaluating third-party risks to build confidence in their readiness
to support healthcare’s mission. We can not only accomplish it
faster, but our analysts and consultants can concentrate on this
critical risk area for our clients.”
This long-standing VSM service agreement with the regional
healthcare network was initially signed in 2013, and its continuous
renewal demonstrates the ongoing value of CynergisTek’s services.
Third-party vendors represent a growing risk to healthcare
organizations as they are producing a greater number of data
breaches. Clients can rely on CynergisTek’s VSM solution to
evaluate and monitor their business associates, as well as hold
them accountable for maintaining HIPAA compliance and mitigating
security risks. A proactive approach to vendor security protects
patient data and operations while also fostering favorable supply
chain partnerships.
About CynergisTek, Inc.
CynergisTek (www.cynergistek.com) is a top-ranked cybersecurity
consulting firm helping organizations in highly-regulated
industries, including those in healthcare, government, and finance
navigate emerging security and privacy issues. CynergisTek combines
intelligence, expertise, and a distinct methodology to validate a
company's security posture and ensure the team is rehearsed,
prepared, and resilient against threats. Since 2004, CynergisTek
has been dedicated to hiring and retaining experts who bring
real-life experience and hold advanced certifications to support
and educate the industry by contributing to relevant industry
associations. For more information, visit www.cynergistek.com or
follow us on Twitter or LinkedIn.
Cautionary Note Regarding Forward-Looking Statements
This release contains certain forward-looking statements
relating to the business of CynergisTek, Inc. These forward-looking
statements are within the meaning of Section 27A of the Securities
Act of 1933, as amended (the “Securities Act”) and Section 21E of
the Securities Exchange Act of 1934, as amended (the “Exchange
Act”) and can be identified by the use of forward-looking
terminology such as “believes,” “expects,” “anticipates,” “would,”
“could,” “intends,” “may,” “will,” or similar expressions. Such
forward-looking statements involve known and unknown risks and
uncertainties, including but not limited to uncertainties relating
to product/services development; long and uncertain sales cycles;
the ability to obtain or maintain proprietary intellectual property
protection; future capital requirements; competition from other
providers; the ability of the Company’s vendors to continue
supplying the Company with supplies and services at comparable
terms and prices; the Company’s ability to successfully compete and
introduce enhancements and new features that achieve market
acceptance and that keep pace with technological developments; the
Company’s ability to maintain its brand and reputation and retain
or replace its significant customers; cybersecurity risks and risks
of damage and interruptions of information technology systems; the
Company’s ability to retain key members of management and
successfully integrate new executives; the Company’s ability to
complete acquisitions, strategic investments, entry into new lines
of business, divestitures, mergers or other transactions on
acceptable terms, or at all; potential risks and uncertainties
relating to the existing and ultimate impact of COVID-19, including
the geographic spread, the severity of the virus, the duration of
the COVID-19 outbreak, actions that may be taken by governmental
authorities to contain the COVID-19 outbreak or to treat its
impact, and the potential negative impacts of COVID-19 on the
global economy and financial markets, 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 the Company’s Form 10-K and Form 10-Q filings
with the Securities and Exchange Commission, which are available at
http://www.sec.gov. Given the risks and uncertainties, readers
should not place undue reliance on any forward-looking statement
and should recognize that the statements are predictions of future
results which may not occur as anticipated. Many of the risks
listed above have been, and may further be, exacerbated by the
COVID-19 pandemic, including its impact on the healthcare industry.
Actual results could differ materially from those anticipated in
the forward-looking statements and from historical results, due to
the risks and uncertainties described herein, as well as others not
now anticipated. 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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version on businesswire.com: https://www.businesswire.com/news/home/20220303005101/en/
CynergisTek Investor Relations Contact: CynergisTek, Inc.
Bryan Flynn (512) 402-8550 x7 InvestorRelations@cynergistek.com
CynergisTek Media Contact: Allison + Partners Jaime Tero
415-755-8639 jaime.tero@allisonpr.com
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