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Growing Number of Industries Realize the Urgency for Ransomware Protection

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FinancialNewsMedia.com News Commentary 

PALM BEACH, Fla., July 12, 2023 /PRNewswire/ — Various industry reports say that the ransomware protection market revenues are projected to continue to increase from today through 2030. And a growing number of industries, such as Healthcare are realizing the importance of ransomware protection.  Ransomware is the biggest and most hazardous cyber threat, which gets installed on the duped person’s computer either by enciphering the files or by locking the complete system unless a ransom is offered or paid. Thus, to protect the systems and to overall enhance the security, the organizations have made investments greater than before particularly in securing the network, data, and endpoints from various advanced cyber threats and crypto-malware including ransomware. A report from Zion Market Research projected that the global ransomware protection market size was worth around USD 20.3 Billion in 2022 and is predicted to grow to around USD 73.9 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 17.5%between 2023 and 2030.  The report said: “The advantages of ransomware protection services and solutions are not widely known among security experts. Systems are becoming increasingly distributed, adaptable, and diverse, which has resulted in a significant increase in the quantity of data collected for security services. As the amount of data created by various infrastructure components rises, it has become difficult for any IT organization to distinguish critical data from non-essential data. Moreover, security experts’ lack of familiarity with ransomware protection software and solutions is projected to limit their ability to take advantage of the global ransomware protection market prospects.   Active Companies in the markets today include Healthcare Triangle Inc. (NASDAQ: HCTI), Health Catalyst, Inc. (NASDAQ: HCAT), Evolent Health (NYSE: EVH), Definitive Healthcare (NASDAQ: DH), NextGen Healthcare, Inc. (NASDAQ: NXGN).

Zion Market Research continued: “Data leaks and other security breaches are occurring more often all around the world. Many companies from a variety of industries have experienced phishing attacks at some point. They affect security systems because loss is caused by various offline surveillance systems. Massive data loss is considerably different from average IT breakdowns. Security against ransomware reduces the risk that an attack will be successful, reduces the window for recovery for enterprises, and removes the potential of a prolonged company shutdown.”

Healthcare Triangle Inc. (NASDAQ: HCTI) BREAKING NEWSHealthcare Triangle Launches Ransomware Initiative Aimed at Protection and Prevention for Healthcare Providers – Company to educate and guide best practices for maintaining resiliency in the face of increasing ransomware attacks in healthcare  – Healthcare Triangle Inc. (“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. 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.”   CONTINUED…   Read this full release for Healthcare Triangle at:  https://www.healthcaretriangle.com/investors/  

Other recent developments in the markets include:

Health Catalyst, Inc. (NASDAQ: HCAT), a leading provider of data and analytics technology and services to healthcare organizations, recently announced an expanded partnership with the Ohio Health Information Partnership (The Partnership) who operates CliniSync, a nonprofit Health Information Exchange that facilitates the sharing of patient records between providers, hospitals, and health systems throughout Ohio.

The Partnership has selected KPI Ninja by Health Catalyst™, a comprehensive, end-to-end interoperability platform built for Health Information Exchanges (HIE), to enhance data exchange at scale in a rapid, real-time process.  “The expanded partnership with HCI and KPI Ninja will allow CliniSync to continue to expand and grow while meeting ongoing Stakeholder needs for better integration within the workflow and more actionable information,” said Dan Paoletti, CEO of the Partnership. “This effort will help Ohioachieve data-driven strategies that will enhance coordination of care and support the population health needs of Ohio.”

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Evolent Health (NYSE: EVH), a health care company that delivers proven value-based specialty care solutions to payers and providers, recently announced that it is rebranding as Evolent and will integrate its portfolio of solutions and businesses under that name by year’s end.

As part of the rebrand, Evolent has released a new tagline—Specializing in Connected Care™—that captures the Company’s focus on working across specialties, providers and settings to improve health outcomes. A new corporate logo reflects the simplified focus of the organization going forward.

“This unification of our businesses under a shared mission and purpose is a major milestone in our evolution as an integrated, clinically focused company working to guide better care decisions when people need them the most,” said Evolent CEO and Co-Founder Seth Blackley. “By joining under one name and across multiple complex medical specialties, we have an exciting opportunity to make a greater impact on both the quality and cost of care.”

Definitive Healthcare (Nasdaq: DH), an industry leader in healthcare commercial intelligence, recently announced three significant enhancements to the Atlas Dataset.

First, the volume of its all-payor medical claims data increased by more than 5%. The Atlas All-Payor Claims Dataset now has more ambulatory and outpatient coverage, including 40% more claims from Federally Qualified Health Centers and 10% more claims for rural health clinics and ambulatory surgery centers. In addition, the Atlas All-Payor Claims Dataset now has increased coverage for states in the western US, including nearly 20% more claims from California, South Dakota, North Dakota, Alaska, and Idaho. The Atlas Dataset also significantly expanded the volume of claims for multiple therapy areas, including a 10% increase in digestive disease-related claims.

NextGen Healthcare, Inc. (NASDAQ: NXGN), a leading provider of innovative, cloud-based healthcare technology solutions, recently announced Haymarket Center has chosen NextGen®Enterprise EHR and NextGen® Practice Management (PM) to deliver 24/7 whole-person care in Illinois.

Haymarket Center serves 12,000 people annually and is the largest and most comprehensive provider of treatment for substance use and mental health disorders in Chicago. With an approach combining the full continuum of healthcare, the center offers comprehensive services that address barriers a person might face throughout their recovery journey. This comprehensive method includes onsite primary care for patients, in part due to Haymarket’s recent designation as a federally qualified health center look-alike (FQHC LAL).

DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult =a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNM has been compensated twenty six hundred dollars for news coverage of the current press releases issued by Healthcare Triangle Inc. by a non-affiliated third party.  FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
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CBH Compagnie Bancaire Helvétique appoints Enid Yip as CEO of CBH Asia

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GENEVA, Nov. 4, 2024 /PRNewswire/ — Swiss private banking group CBH Compagnie Bancaire Helvétique announces the appointment of Enid Yip as the new CEO of its subsidiary CBH Asia. Mrs Yip will also lead the Asia Regional Committee. Based in Hong Kong, CBH Asia is a key part of the Group’s strategic commitment to expand its presence in the region.

Concurrently, Patrick Wong, who has overseen the Asia business since 2017, has been appointed Deputy Chief Executive Officer. Mr Wong will continue to manage Operations, Regulatory and Compliance, and IT, while Mrs Yip will focus on enhancing the firm’s client offering and driving business development in line with the Group’s long-term strategy for Asia. With its entrepreneurial approach and exclusive and bespoke investment offering, CBH Asia offers compelling advantages to clients and relationship managers in the region.

A seasoned executive, Mrs Yip brings over 25 years of experience in successfully growing wealth management institutions in Asia. Most recently she was with LGT. Prior to that, she was a Member of the Board at Bank J. Safra Sarasin, having previously served as their Chief Executive Officer, Asia, overseeing the bank’s expansion in the region. Earlier in her career, Mrs Yip held various senior positions in the private banking industry.

Simon Benhamou, CBH Bank Chief Executive Officer said: “We are delighted to welcome someone of Enid’s calibre to lead CBH Asia. Her extensive experience and strong leadership will be instrumental in furthering our growth in key Asian markets. Our people are our greatest asset and with Enid’s strong commitment to our core values of entrepreneurship and teamwork, we are confident that she will further strengthen CBH Asia’s success. We extend our best wishes to Enid on her appointment.”

Mrs Yip said: “I am delighted to be joining a Group that fosters an environment where we can achieve great results by pursuing excellence with creativity. I am determined to expand CBH’s footprint in the region, building on our established expertise and maintaining our long-term vision of adding value for both clients and stakeholders.”

About CBH | Compagnie Bancaire Helvétique

CBH Compagnie Bancaire Helvétique is a family-owned Swiss banking group founded in 1975. Headquartered in Geneva, the Group currently counts close to 309 professionals in 10 locations around the world. As of December 31st, 2023 client assets totaled CHF 14.3 billion and the Group’s Tier 1 ratio was 43%, placing it among the best capitalized banks in Switzerland compared to its peers.

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CBH Group provides wealth management services to private and institutional clients, as well as several complementary business lines, including family office solutions, asset services & structuring, exclusive private markets expertise, and bespoke daily banking and card solutions.

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BIZCLIK MEDIA LAUNCHES NOVEMBER EDITIONS OF FINTECH MAGAZINE & INSURTECH DIGITAL

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The November editions of FinTech Magazine & InsurTech Digital includes interviews with leading experts and executives from

LONDON, Nov. 4, 2024 /PRNewswire/ — BizClik, the UK’s fastest-growing publishing company, has released the latest editions of FinTech Magazine and InsurTech Digital These publications are highly regarded by voices within the Financial Sector for their in-depth reports and interviews with prominent figures in the industry.

FinTech Magazine

This month’s edition features an exclusive lead interview with Lloyds Banking Group CIO, Amit Thawani as it undertakes a huge transformation to meet its 27 million customers evolving needs.

“At Lloyds Banking Group it’s all about people. Our people can make a real difference to the UK population who are not prepared for their tomorrow “

The edition also contains extensive interviews with key thought leaders from Coupa, TerraPay and more. Plus the Top 10: Largest Firms involved in Financial Services,

You can visit FinTech Magazine for daily news and analysis of the ever-changing financial industry.

InsurTech Digital

This month’s edition features an exclusive lead interview with Qover CEO Quentin Colmant on how AI will ‘reshape how we create value’

“Each decision has felt monumental, with no guaranteed outcomes, but this unpredictability has been incredibly rewarding”

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The edition also contains extensive interviews with key thought leaders from Lloyds Banking Group, Kin Insurance and more. Plus the Top 10: Insurance Products of 2024

You can visit InsurTech Digital for daily news and analysis of the ever-changing financial industry.

About BizClik

BizClik is one of the fastest-growing digital media companies in the UK, host to a growing portfolio of industry-leading global brands and communities.

BizClik’s expanding portfolio includes Technology, AI, FinTech, InsurTech, Supply Chain, Procurement, Energy, Mining, Manufacturing, Healthcare, Mobile, Data Centre, Cyber, and Sustainability.

For more information, please visit our website.

View original content:https://www.prnewswire.co.uk/news-releases/bizclik-media-launches-november-editions-of-fintech-magazine–insurtech-digital-302295572.html

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Dechert Advises Poxel on US$50 Million Non-Dilutive Financing Agreement with OrbiMed

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PARIS, Nov. 4, 2024 /PRNewswire/ — Dechert has advised Poxel (Euronext: POXEL), a clinical-stage biopharmaceutical company, on its non-dilutive financing agreement with OrbiMed for US$50 million. This transaction monetizes a portion of Poxel’s future royalties and sales-based payments from TWYMEEG® sales by Sumitomo Pharma in Japan.

The financing is set to bolster Poxel’s strategic initiatives in rare diseases, reduce its debt and support general corporate purposes. The deal underscores the significant value of TWYMEEG® in Japan and strengthens Poxel’s financial position.

Poxel is listed on Euronext Paris, developing innovative treatments for chronic serious diseases with metabolic pathophysiology, including non-alcoholic steatohepatitis (NASH) and rare metabolic disorders. OrbiMed is a leading healthcare investment firm dedicated to accelerating innovation in the biopharmaceutical industry.

The Dechert team that advised Poxel includes corporate and securities partners Patrick Lyons and David Rosenthal; global finance partner Privat Vigand; intellectual property partner Olivia Bernardeau-Paupe; global finance partner Sarah Milam; tax partner Sabina Comis; and associates Etienne Bimbeau, Pierre-Emmanuel Floc’h, Chloe Lebret, Julie Lecomte, Vianney Toulouse and Yasmin Yavari.

About Dechert

Dechert is a global law firm that advises asset managers, financial institutions and corporations on issues critical to managing their business and their capital – from high-stakes litigation to complex transactions and regulatory matters. We answer questions that seem unsolvable, develop deal structures that are new to the market and protect clients’ rights in extreme situations. Our nearly 1,000 lawyers across 20 offices globally focus on the financial services, private equity, private credit, real estate, life sciences and technology sectors. 

View original content:https://www.prnewswire.co.uk/news-releases/dechert-advises-poxel-on-us50-million-non-dilutive-financing-agreement-with-orbimed-302295559.html

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