CHICAGO, June 10, 2024--(BUSINESS WIRE)--Cardio Diagnostics Holdings, Inc. (NASDAQ: CDIO), a leader in AI-driven precision cardiovascular medicine, today announced the successful completion of its System and Organization Controls (SOC) 2 Type I audit, achieving compliance with the leading industry standards for customer data security. This milestone underscores the Company’s unwavering commitment to the highest data security standards.
"Achieving SOC 2 Type I compliance reflects our dedication to maintaining the trust of our clients and adhering to industry best practices," stated Tim Dogan, Ph.D., Chief Technology Officer of Cardio Diagnostics. "We take our responsibility seriously, and this accomplishment demonstrates our prioritization of the security and confidentiality of customer data."
Cardio Diagnostics’ clinical solutions, Epi+Gen CHD and PrecisionCHD, and data intelligence platform, HeartRisk, deliver value to major healthcare stakeholders including providers, patients, employers and payers. The Company underwent an independent audit to validate its controls relevant to security, availability, integrity, confidentiality, and privacy meet the stringent SOC 2 standards established by the American Institute of Certified Public Accountants (AICPA). The certification provides a greater level of trust for both current and prospective partners and customers.
The Importance of Cybersecurity in Healthcare
In an era where digital technologies such as electronic health records and telemedicine are transforming healthcare, robust cybersecurity is paramount. Data breaches can result in significant financial repercussions and erode patient trust. Healthcare organizations must, therefore, implement rigorous cybersecurity measures to protect patient information and comply with HIPAA regulations.
Cybersecurity risks in healthcare are particularly acute due to the highly sensitive nature of patient data. Breaches can expose patients to identity theft, disrupt medical services, and compromise patient care. The increasing sophistication of cyber-attacks, including ransomware and phishing schemes, necessitates that those serving patients, including healthcare technology companies, adopt comprehensive security frameworks to safeguard their systems and data.
The Role of SOC 2 in Meeting Cybersecurity Challenges
Achieving SOC 2 Type I compliance is a critical benchmark for organizations managing sensitive data, as it verifies that a company has implemented effective controls to protect against unauthorized access and data breaches. For healthcare companies, achieving SOC 2 compliance demonstrates a proactive approach to cybersecurity, emphasizing their commitment to maintaining the confidentiality and integrity of patient information.
Regular audits and updates to security protocols ensure that the organization remains vigilant against emerging threats. This compliance not only helps adhere to mandatory standards such as HIPAA but also significantly reduces the likelihood of data breaches and regulatory violations, enhancing the organization's reputation and competitive advantage.
"When healthcare providers and patients entrust us with their sensitive health information, we must operate to the highest standards of quality and compliance," Dogan added. "Cardio Diagnostics is proud to achieve this milestone as we continue to enhance our architecture and security."
About Cardio Diagnostics
Cardio Diagnostics is a pioneering company in AI-powered precision cardiovascular medicine, committed to making cardiovascular disease prevention, detection, and management more accessible, personalized, and precise. The company leverages a proprietary AI-driven Integrated Genetic-Epigenetic Engine ("Core Technology") to develop and commercialize clinical tests aimed at improving the prevention, detection, and treatment of cardiovascular disease. For more information, please visit www.cardiodiagnosticsinc.com.
Forward-Looking Statements
Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. When used in this press release, the words or phrases "will", "will likely result," "expected to," "will continue," "anticipated," "estimate," "projected," "intend," "goal," or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, many of which are beyond the control of the Company. Such uncertainties and risks include but are not limited to, our ability to successfully execute our growth strategy, changes in laws or regulations, economic conditions, dependence on results are discussed in the Current Report on Form 10-K for the period ended December 31, 2023, and Form 10-Q for the period ended March 31, 2024 under the heading "Risk Factors" in Part I, Item IA thereof, and other documents filed from time to time with the Securities and Exchange Commission. Such factors could materially adversely affect the Company’s financial performance and could cause the Company’s actual results for future periods to differ materially from any opinions or statements expressed within this press release.
