PLEASANTON, Calif., Sept. 19, 2023 (GLOBE NEWSWIRE) -- Healthcare Triangle, Inc (Nasdaq: HCTI) (“HCTI” or the "Company"), a leader in digital transformation solutions including managed services, cloud enablement, cybersecurity, data analytics, and AI data processing for the healthcare and life sciences industries, today announced an upcoming roundtable hosted by HCTI in collaboration with Amazon Web Services (AWS) on the topic of generative AI and data modernization technologies, and their role in streamlining healthcare operations and improving patient outcomes.

Lena Kannappan, head of business, strategy and partnerships for Healthcare Triangle, will lead a discussion with key opinion leaders about the data modernization journey and opportunities using generative AI in life sciences and in healthcare settings. Through interactive discussions and case studies of data analytics and AI, experts will share best practices and identify three key learnings about how healthcare organizations can take full advantage of the wealth of data they have at hand.

“Generative AI and data analytic technologies can play a key role in improving patient outcomes and streamlining healthcare operations. However, from technological and organizational challenges to data integration and protection requirements, healthcare organizations must account for numerous considerations as they embark on a data modernization strategy,” said Lena Kannappan. “It is critical for healthcare organizations to leverage new technologies while being proactively vigilant about regulatory requirements and patient privacy.”

Key learnings will include:

• Benefits and hurdles for maximizing the benefits of generative AI for healthcare data modernization.
• Effective strategies for preparing and implementing modern data analytics platforms.
• The criticality of maintaining a secure, protected, and compliant data environment.
  

Roundtable Dinner Event Details

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 CloudEz™ and DataEz™. 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 Prospectus filed with the SEC on October 7, 2021, previous filings, subsequent filings and future periodic 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

Media:
Michael Campana
[email protected]

Investors:
1-800-617-9550
[email protected]

PLEASANTON, Calif., Sept. 12, 2023 (GLOBE NEWSWIRE) -- Healthcare Triangle, Inc (Nasdaq: HCTI) (“HCTI” or the "Company"), a leader in digital transformation solutions including managed services, cloud enablement, cybersecurity, data analytics, and AI data processing for the healthcare and life sciences industries, today announced that it is hosting a webinar titled “Ransomware Preparedness for Healthcare: Enhancing Resilience Amid Growing Threats” today, September 12, 2023 at 1:00 pm ET.

Lena Kannappan, head of business, strategy and partnerships for Healthcare Triangle, will lead a discussion with key opinion leaders to illuminate their perspectives on early detection and rapid response in managing ransomware attacks within healthcare environments.

“Our webinar will offer valuable insights addressing the pressing issue of ransomware and its implications for the healthcare sector,” said Lena Kannappan. “Recent ransomware attacks affecting prominent institutions such as Universal Health Services, CommonSpirit Health, the Johns Hopkins Health System, and HCA Healthcare, are accelerating board-level conversations about cybersecurity and driving increasing demand for robust cybersecurity services in healthcare. During our webinar, we will explore strategies to bolster education, preparedness, identification, prevention/protection, detection, response, and recovery efforts within healthcare facilities and systems using on-premise private cloud infrastructure or applications running on the public cloud.”

Key learnings from the webinar will include:

• The significance of incident response planning, testing, and individual involvement in reducing ransomware impact and enhancing healthcare cybersecurity hygiene.
• The importance of proactive strategies for preparation and prevention to mitigate ransomware risk.
• The critical role of early detection and rapid response in managing ransomware attacks within healthcare environments.
  
  

The webinar is presented by the College of Healthcare Information Management Executives (CHiME). CHiME certificate holders are eligible for continuing education (CEUS).

About Lena Kannappan

A visionary leader, Lena Kannappan leads and directs business operations for Healthcare Triangle, including strategic partnerships, M&A, cybersecurity initiatives, and key alliances. He founded FuGen Solutions, a leading independent provider of hosted PaaS-based identity federation services acquired by HCTI/8KMiles in 2013, and holds 25+ years of software industry experience.

Mr. Kannappan is an original founder of the Security Assertion Markup Language 2.0 protocol (SAML 2.0), a standard for exchanging authentication and authorization identities between security domains, and Federated Identity Management (FIM), a method of linking a user's identity across multiple separate identity management systems.

Mr. Kannappan’s contributions to the software industry have changed the way identity information is shared between service providers, and enabled the advance of SaaS, cloud computing, and social networking.

Lena Kannappan
Head of Business, Strategy and Partnerships, Healthcare Triangle

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 CloudEz™ and DataEz™. 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 Prospectus filed with the SEC on October 7, 2021, previous filings, subsequent filings and future periodic 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

Media:
Michael Campana
[email protected]

Investors:
1-800-617-9550
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/16874a50-b97c-41fb-bb53-669ade951ad2

PLEASANTON, Calif., Aug. 10, 2023 (GLOBE NEWSWIRE) -- Healthcare Triangle, Inc (Nasdaq: HCTI) (“HCTI” or the "Company"), a leader in digital transformation solutions including managed services, cloud enablement, cybersecurity, data analytics, and AI data processing for the healthcare and life sciences industries, today announced results for the second quarter of 2023 ended June 30, 2023.

Thyagarajan Ramachandran, CFO of Healthcare Triangle, said, “We had a productive quarter focused on marketing and customer acquisition strategies along with platform development initiatives aimed at expanding our revenue streams. Operating margins were resilient within an uncertain macro environment reflecting our continued focus on cost optimization. Our priorities for the second half of 2023 are focused on building traction for key services including cybersecurity and document AI, and shoring up efficiencies in our business operations.”

Second Quarter 2023 Financial Results

• Total revenue was $8.5 million, compared to $11.6 million in the second quarter of 2022.
• Loss from operations was $1.6 million, compared to $1.4 million for the second quarter of 2022 and a 50% improvement from $3.2 million in the first quarter of 2023.
• Basic and diluted net loss per share was $0.42 based on 4.2 million weighted-average shares outstanding, compared to $0.11 based on 3.5 million weighted-average shares outstanding for the second quarter of 2022.
  

Second Quarter 2023 and Recent Business Highlights

• Acquired 5 new customers and $2 million of new business.
• Secured a multi-year program expansion contract with a Fortune 500 biopharmaceutical company and top-five customer for cloud DevOps, data engineering, and data platform management solutions.

• Announced a multi-year SaaS contract for readabl.ai document workflow process automation to improve efficiency and optimize costs. readabl.ai runs on public cloud platforms.
• Launched a new ransomware protection and prevention initiative drawing initial interest and support from numerous health system clients. The Company is servicing multiple contract agreements for cloud backup and disaster recovery, enabling hospitals and health systems to move disaster recovery to the Amazon Web Services (AWS) cloud to secure resources and scale on demand.
• Participated at the 2023 MUSE Inspire Conference as exhibitor and host of best practice sessions on data protection and information security.
  

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 CloudEz™ and DataEz™. 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. For more information, visit 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 Prospectus filed with the SEC on October 7, 2021, previous filings, subsequent filings and future periodic 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.

Investor Contact

1-800-617-9550
[email protected]

PLEASANTON, Calif., July 26, 2023 (GLOBE NEWSWIRE) -- Healthcare Triangle, Inc. (Nasdaq: HCTI) (“HCTI” or the "Company"), a leader in digital transformation solutions including managed services, cloud enablement, cybersecurity, data analytics, and AI data processing for the healthcare and life sciences industries, today announced that its new ransomware prevention and protection initiative launched earlier this month is drawing initial interest and support from numerous health system clients seeking critical tools and guidance for preventing and responding to ransomware incidents. The Company is servicing multiple contract agreements for cloud backup and disaster recovery, enabling hospitals and health systems to move disaster recovery to the Amazon Web Services (AWS) cloud to secure resources and scale on demand. This helps to mitigate risks by increasing resilience and meeting compliance requirements. Elastic disaster recovery minimizes downtime with minimal RPO (recovery point objective) and RTO (recovery time objective) for immediate recovery to ransomware events.

“The accelerating volume of national news about ransomware incidents is driving widespread demand for cybersecurity services. Our clients are seeking guidance and protection from solutions that are specific to the concerns and needs of healthcare systems and their patients,” said Lena Kannappan, head of business, strategy and partnerships for Healthcare Triangle. In July alone, one of the country’s largest providers confirmed a data breach impacting 11 hospitals and 12 million patients, and now faces at least four class action lawsuits. A prominent community hospital had to close its doors permanently due to a 2021 ransomware attack that caused devastating financial loss. IBM reported that ‘the average costs of a studied breach in healthcare reached nearly $11 million in 2023 – a 53% price increase since 2020.’ Rural hospitals are particularly vulnerable to risk at these high costs.

“Healthcare Triangle’s mission is to fill a leadership role as the authority on specialized cybersecurity and identity management solutions for organizations ranging from small community healthcare providers to large healthcare systems serving millions of patients. We are in discussions with multiple cybersecurity product vendors and public cloud providers to bring best-of-breed solutions to the hospital community,” Kannappan continued. “In just two weeks, our initiative has drawn a significant amount of interest from our existing health system clients and partners. This strong initial response bodes well for the continuing adoption of our critical resources for preparedness, prevention, detection, response, and recovery from ransomware attacks.”

Key areas of client interest to date include:

• Education and training
• Threat assessment
• Evaluation and recommendations for security processes and tools
• Incident management plan preparation
• Backup and disaster recovery
• Data archival on the cloud
• Threat vectors and remediation
• Prevention and protection including identity management
• Detection, response, and recovery
  

Commenting on Healthcare Triangle’s ransomware initiative, longstanding client CalvertHealth Medical Center stated, “Hospitals need to take solid steps toward ransomware resilience. With HCTI’s help we have implemented their Amazon Web Services-based disaster recovery solution in order to protect our patients' data.”

For more information about Healthcare Triangle’s ransomware initiative, contact [email protected] .

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 CloudEz ^™ and DataEz ^™ . 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. For more information, visit 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 Prospectus filed with the SEC on October 7, 2021, previous filings, subsequent filings and future periodic 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

Media:
Michael Campana
[email protected]

Investors:
1-800-617-9550
[email protected]

PLEASANTON, Calif., July 19, 2023 (GLOBE NEWSWIRE) -- Healthcare Triangle, Inc. (Nasdaq: HCTI) (“HCTI” or the "Company"), a leader in digital transformation solutions including managed services, cloud enablement, cybersecurity, and data analytics for the healthcare and life sciences industries, today announced that it has secured a multi-year program expansion contract with a top-five customer, a Fortune 500 biopharmaceutical company. The agreement extends the customer’s suite of cloud DevOps, data engineering, and data platform management solutions.

“Over the past four years of this client’s program, HCTI has developed a high performance computing (HPC) environment supported by a custom deployment of DataEz ^™ , our HITRUST-certified, fully managed AI engineering and analytics platform-as-a-service. This new agreement renews and expands our managed services engagement, reinforcing our value as a trusted advisor and a highly-engaged business partner,” said Lena Kannappan, head of business, strategy and partnerships for Healthcare Triangle. “Our expertise in challenging the status quo, providing strategic alternatives, and implementing creative, novel solutions in cloud transformation and cloud acceleration for pharmaceutical and life sciences organizations enabled us to broaden our range of services for this program. We are thrilled to continue this highly valued client relationship.”

Healthcare Triangle advances industry-transforming solutions in the areas of cloud services, data science, cyber security and professional and managed services for the healthcare and life sciences industries. The Company is strategically partnered with leading public cloud providers including Amazon Web Services, Google Cloud, Microsoft Azure Cloud, and EHR vendors.

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 CloudEz ^™ and DataEz ^™ . 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, data lifecycle management, healthcare interoperability, and clinical and business performance optimization. For more information, visit 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 Prospectus filed with the SEC on October 7, 2021, previous filings, subsequent filings and future periodic 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

Media:
Michael Campana
[email protected]

Investors:
1-800-617-9550
[email protected]

PLEASANTON, CA / ACCESSWIRE / July 13, 2023 / Healthcare Triangle, Inc. (NASDAQ:HCTI), a digital transformation solutions company for the healthcare and life sciences industry, is launching a new initiative to support companies against ransomware attacks. Healthcare Triangle services include managed services, cloud enablement and data analytics, and its initiative will give healthcare organizations the tools and guidance to prevent and respond to ransomware incidents.

Healthcare Triangle is launching this initiative as it positions itself as a leader in the healthcare cloud and data management sector. The company will be educating healthcare organizations on best practices to increase their resilience in the face of ransomware attacks. Healthcare Triangle has identified three key topics that organizations using its ransomware initiative will benefit from learning about. These topics are:

• The importance of incident response planning and testing, plus how everyone can contribute to basic cybersecurity hygiene in healthcare and help minimize the impact of ransomware attacks.
• Developing important preparation and prevention strategies against ransomware attacks.
• The importance of early detection and rapid response to ransomware attacks when they occur.

Lena Kannappan, Head of Business, Strategy and Partnerships for Healthcare Triangle, commented on the initiative's launch, "Generative AI and data modernization technologies can play a key role in improving patient outcomes and streamlining healthcare operations. However, looming ransomware threats can severely impact patient care, disrupt operations, cause financial losses, put community lives at risk, and force hospitals to shutter operations. With our new ransomware initiative, our company's goal is to take a proactive leadership role in educating and equipping healthcare systems, especially rural hospitals in need, with critical resources for improving their preparedness, prevention, detection, response, and recovery from ransomware incidents."

Healthcare Triangle's Initiative In A Growing Market

Healthcare Triangle's new initiative could be a significant contribution to a market that is predicted to see major growth in the coming years. The importance of data's role in healthcare is increasing rapidly as more content is digitized and people have more and more daily interactions with digital devices, apps and monitoring technologies.

This data powers the global healthcare analytics market, which was worth $35.3 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 21.4% from 2023 to 2030. Healthcare data is also predicted to grow faster than any other data segment, including manufacturing, financial services, or even media and entertainment. In 2018, the healthcare industry generated around 30% of the world's data, and by 2025 that number is expected to reach 36%.

Ransomware Threats To Healthcare Data

Unsurprisingly, ransomware and malicious attacks against healthcare institutions have increased as the volume of digital data has increased. Ransomware attacks on the U.S. healthcare sector doubled from 2016 to 2021 and led to confidential medical information being compromised for around 42 million patients.

A report from the Federal Bureau of Investigation (FBI) indicated that, in 2022, more ransomware attacks were made against the healthcare sector than any other critical infrastructure sector. There were 210 ransomware attacks targeting the hospital sector, while the next most attacked sector was critical manufacturing, with 157 reports of attacks.

Rural hospitals that face budget constraints limiting their ransomware protection are especially vulnerable and require assistance from the federal government. The government is beginning to pay attention, and Healthcare Triangle has applauded the actions of Senator Josh Hawley, whose bill, the Rural Hospital Cybersecurity Enhancement Act, has passed a Senate committee and is on its way to the Senate floor. Congress is also taking steps, including through the Joint Ransomware Task Force (JRTF), which is addressing the increasing threat of ransomware attacks.

Other companies involved in data management in healthcare include SCWorx and HealthLynked Corp.

Learn more about Healthcare Triangle by visiting its website.

Featured photo by NASA on Unsplash.

Contact:

Michael Campana
[email protected]

SOURCE: Healthcare Triangle Inc.

PLEASANTON, Calif., July 12, 2023 (GLOBE NEWSWIRE) -- Healthcare Triangle, Inc (Nasdaq: HCTI) (“HCTI” or the "Company"), a leader in digital transformation solutions including managed services, cloud enablement, and data analytics for the healthcare and life sciences industries, today announced its launch of a new initiative aimed at preparing healthcare organizations with critical tools and guidance for preventing and responding to ransomware incidents.

Ransomware attacks on the U.S. healthcare sector have more than doubled from 2016 to 2021 and have exposed confidential and protected medical information of nearly 42 million patients. ¹ Most recently, CalPERS and CalSTRS, the nation’s two largest public pension funds, were attacked with a data breach that exposed personal information on 1.2 million government retirees and beneficiaries. In May, Johns Hopkins University and Johns Hopkins Health experienced a similar cyberattack and data breach. Both incidents have been attributed to a Russian hacker group known as the Cl0p ransomware syndicate. Meanwhile, while large institutions and healthcare systems address major attacks, rural hospitals particularly vulnerable to risk are facing significant budget constraints for ransomware protection and need assistance from the federal government. In response, U.S. Senator Josh Hawley's “Rural Hospital Cybersecurity Enhancement Act” passed through committee on June 14, 2023, and now heads to the Senate floor. Healthcare Triangle applauds this and other actions by the U.S. Congress to address the growing threat of ransomware attacks, including the work of the Joint Ransomware Task Force (JRTF) , an interagency effort to reduce ransomware.

Lena Kannappan, head of business, strategy and partnerships for Healthcare Triangle, stated, “Generative AI and data modernization technologies can play a key role in improving patient outcomes and streamlining healthcare operations. However, looming ransomware threats can severely impact patient care, disrupt operations, cause financial losses, put community lives at risk, and force hospitals to shutter operations. With our new ransomware initiative, our Company’s goal is to take a proactive leadership role in educating and equipping rural hospitals, community hospitals, and large health systems in need with critical resources for improving their preparedness, prevention, detection, response, and recovery from ransomware incidents. We are engaged in discussions with several healthcare systems about this initiative and look forward to raising awareness and delivering robust, best-in-class solutions throughout the healthcare and life sciences industries.”

Participants in Healthcare Triangle’s ransomware initiative will benefit from three key learning topics about artificial intelligence, machine learning, and ransomware challenges.

1. Key Learning #1 – The crucial role of incident response planning, testing, and the role each person plays in minimizing the impact of ransomware attacks to improve basic cybersecurity hygiene in healthcare.
2. Key Learning #2 – Effective strategies for preparing for and preventing ransomware.
3. Key Learning #3 – The criticality of early detection and rapid response phase of ransomware attacks.
   

Healthcare Triangle’s ransomware prevention practices and training services include:

• Education workshops
• Risk assessment
• Recommendations for most effective tools and processes
• Backup and recovery plans
• Multi-factor authentication (MFA)
• Identity management
• Simulated phishing exercises
• Software updates
• Routine risk assessments
• Continuous monitoring
• External partnering
• Measures of effectiveness

Contact the Company for more information: [email protected]

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 CloudEz™ and DataEz™. 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, data lifecycle management, healthcare interoperability, and clinical and business performance optimization. For more information, visit 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 Prospectus filed with the SEC on October 7, 2021, previous filings, subsequent filings and future periodic 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

Media:
Michael Campana
[email protected]

Investors:
1-800-617-9550
[email protected]

_________________________

¹ Journal of the American Medical Association (JAMA). Trends in Ransomware Attacks on U.S. Hospitals, Clinics and Other Health Care Delivery Organizations, 2016-2021. December 2022.

PLEASANTON, Calif., June 13, 2023 (GLOBE NEWSWIRE) -- Healthcare Triangle, Inc (Nasdaq: HCTI) (“HCTI” or the "Company"), a leader in digital transformation solutions including managed services, cloud enablement, and data analytics for the healthcare and life sciences industry, today announced that the Nasdaq Stock Market (“Nasdaq”) Delisting Notice determination regarding the minimum closing bid price requirement for continued listing on The Nasdaq Capital Market was executed in error. In turn, Nasdaq has cancelled the Company’s request to Nasdaq for a hearing to appeal its delisting determination, and the Company is no longer required to complete a compliance plan for continued listing.

Nasdaq has determined Healthcare Triangle was in compliance with the minimum closing bid price requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) by May 30, 2023, the deadline to regain compliance. On May 26, 2023, the Company effected a one-for-ten reverse stock split, and as a result, the closing price of the Company’s common stock has since remained greater than $2.60.

“Healthcare Triangle works diligently to conduct company business in full compliance with Nasdaq listing requirements and with adherence to corporate governance best practices. We appreciate Nasdaq’s fast execution in resolving its error and continuing our listing under the ticker symbol ‘HCTI.’”

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 CloudEz™ and DataEz™. 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, data lifecycle management, healthcare interoperability, and clinical and business performance optimization. For more information, visit 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 Prospectus filed with the SEC on October 7, 2021, previous filings, subsequent filings and future periodic 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.

Investor Contact

1-800-617-9550
[email protected]