With lax security, healthcare data breaches are becoming far more common, and expensive, according to a report from cloud security company, Bitglass, as reported by Med City News. In 2020 alone, there were 600 data breaches that we knew about, a 55% jump year over year, impacting about 26 million people. Worse, the average cost of a data breach jumped about 10.5% year over year, as well. Even more troubling, “The report found that months can lapse before a healthcare organization uncovers and recovers from a breach. To be exact, healthcare organizations take on average 96 days to discover a data breach and 236 days to recover from one.” For the healthcare industry to be this unprepared is a bit ridiculous, and becomes another strong catalyst for companies like Plurilock Security (TSXV:PLUR) (OTC:PLCKF), Palo Alto Networks (NYSE:PANW), Proofpoint Inc. (NASDAQ:PFPT), Crowdstrike Holdings Inc. (NASDAQ:CRWD), and FireEye Inc. (NASDAQ:FEYE).
Plurilock Security (TSXV:PLUR)(OTC:PLCKF) Secured Order with U.S. Pharma Manufacturer
Plurilock Security, and related subsidiaries, an identity-centric cybersecurity solutions provider for workforces, has received an order from a California state healthcare agency worth US$400,000 under the NASPO ValuePoint program.
Healthcare organizations continue to be significant targets for cyberattacks, with recent data showing a 55% increase in 2020. These attacks against healthcare providers have turned into a $13.2 billion industry, underscoring the need for support from innovative cybersecurity solutions providers like Plurilock. Per the order, Plurilock will provide the U.S. state agency with Broadcom licenses and maintenance support. Plurilock secured the order as an authorized vendor in the NASPO ValuePoint program. This order is the latest in an ongoing effort from the Company to expand within the healthcare and government verticals.
Other related developments from around the markets include:
Palo Alto Networks, the global cybersecurity leader, announced financial results for its fiscal third quarter 2021, ended April 30, 2021. Total revenue for the fiscal third quarter 2021 grew 24% year over year to $1.1 billion, compared with total revenue of $869.4 million for the fiscal third quarter 2020. GAAP net loss for the fiscal third quarter 2021 was $145.1 million, or $1.50 per diluted share, compared with GAAP net loss of $74.8 million, or $0.77 per diluted share, for the fiscal third quarter 2020.
Proofpoint Inc., a leading cybersecurity and compliance company, today announced it has been positioned by Gartner, Inc. in the Leaders quadrant of the 2019 Magic Quadrant for Enterprise Information Archiving for the eighth consecutive year. The report provides a detailed overview of the enterprise information archiving market and evaluates vendors based on completeness of vision and ability to execute. “Organizations are struggling to maintain compliance as they migrate to the cloud, regulations evolve, data grows, and new content types emerge—and it’s hitting their bottom line. In 2018, $1.46B in SEC fines were levied and between 2016 and 2018, $295M FINRA fines were enforced,” said Darren Lee, executive vice president and general manager of Compliance and Digital Risk for Proofpoint. “Compliance and legal teams need the tools that can meet today’s demands for security, retention, supervision, and retrieval. We believe our positioning as a Leader in the Gartner Magic Quadrant for the eighth consecutive year underscores our dedication to innovation and unmatched ability to provide organizations with the visibility and control over the compliance risks that matter most.”
Crowdstrike Holdings Inc., a leader in cloud-delivered endpoint and workload protection, today announced it is launching new partner applications in the CrowdStrike Store and the availability of the CrowdStrike Store in the European Union (EU) Cloud for customers to discover and buy security and IT applications. Additionally, the company is announcing the release of a new survey report which unpacks the current state of IT security. The global IT security survey, commissioned by CrowdStrike, aims to better understand the complexities that IT security teams face when implementing a mature security strategy that includes disparate solutions. The report was independently conducted by Vanson Bourne, and surveyed 900 senior IT decision-makers and IT security professionals globally and across all industry sectors. It unveiled the need for organizations to transform their security stacks to create greater simplicity and strengthen efficacy to stop breaches, revealing that 92% of respondents say their organizations have faced operational challenges due to the implementation of IT security projects and that 71% of respondents said that integration complexity between technology and security stacks requires improvement.
FireEye Inc., the intelligence-led security company, announced new Cyber Risk Management Services from Mandiant. Mandiant® Cyber Risk Management Services are designed to address critical business and security requirements to equip executives, boards of directors, and security and cross-functional leaders with risk-based data and advice to build effective and balanced security programs. “When developing a corporate security strategy and program, it is imperative to identify the areas and assets with the highest business value and those with the most significant threats and vulnerabilities. Mandiant Cyber Risk Management Services are designed to balance business and technical considerations and provide executives with risk-based decision support,” said Jurgen Kutscher, Executive Vice President, Service Delivery, Mandiant Consulting. “Mandiant brings unparalleled frontline expertise and analysis to help business leaders focus on running their businesses more securely by prioritizing their security investments to maximize risk reduction.”
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