CYNERGISTEK I N V E S T O R P R E S E N TAT I O N NYSE AMERICAN: CTEK
SAFE HARBOR STATEMENTS This presentation contains, and our officers and representatives may from time to time make, “forward - looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “ may ,” “should,” “will” and similar references to future periods. Examples of forward-looking statements include, among others, statements we make (herein or otherwise) regarding the size of the potential market for our services; the number of potential customers/clients for our services; plans and strategies of CynergisTek and its subsidiaries for future growth and performance; market acceptance of our business model; our ability to integrate acquisitions and merged companies; and timelines relating to growth, milestones, and strategic focus. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on ma nagement’s current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward- looking statements include, among others, the risk factors discussed throughout Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations, and in Part I, Item 1A. Risk Factors of our Annual Report on Form 10-K for the year ended December 31, 2019; and throughout Part I, Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations of our Q uarterly Reports on Form 10-Q for the quarters ending March, June and September 31. Any forward-looking statement made by us in this presentation is based only on information currently available to us and speaks only as of the date on which it is made. We expressly disclaim any obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise. 2
CYNERGISTEK AT A GLANCE CynergisTek is the premier provider of cybersecurity managed services and security & compliance consulting to healthcare and other regulated industries What makes us unique? Continued YoY Growth ▪ Unrivaled industry expertise in healthcare, covering 1,000+ healthcare Est. in Managed Services Founded in 2004 provider locations and business associates, and partnered with 2 of the Revenue 10 largest health systems in the US; a top medical device manufacturer; and 4 Electronic Health Records Companies $ $21.4M 2019A Revenue 115 Employees ▪ Revenue is packaged as a recurring managed service with significant upsell opportunity for re-occurring consulting and professional services ▪ Trusted advisor enabling clients to protect and support patient ~39% ~61% safety and care operations Revenue driven by re-occurring $ Revenue driven by recurring ▪ Leadership team with experience across the security and healthcare Consulting Segment, and Managed Services segment in 2019E industry including former auditors, Healthcare CIO’s and leaders at Professional Services Symantec, Cylance and IBM Security 85%+ 24% 2019 Managed Service Renewal Of managed service clients have 2 Rate or more managed services Industry Accolades: Top Performing Services KLAS KLAS KLAS 330 Customers Nationwide 1k+ Healthcare Locations Cybersecurity HIT Advisory Tech Services 2018 2018 2018 145 50%+ Managed Services Clients Of clients using 2 or more service offerings 3
HEALTHCARE CYBERSECURITY IS A LARGE AND GROWING MARKET OPPORTUNITY Immature Cybersecurity Increasing Skill and Increasing Volume and Exponential Risk Adoption in Resource Gap Cost of Attacks Healthcare Top 10 329 Days Most likely industry Time to Identify and Contain a to be attacked Breach 2x Cost 118% 59% Healthcare data breaches are Increase in Ransomware attacks Of attacks in Healthcare come nearly double the cost of the during the first quarter of 2019 from the inside average 32M 10.5% $14.4B $7.13M Average cost of Healthcare data Healthcare Records Breached in Annual Increase in Data Breach Anticipated Healthcare breach First Half of 2019 Cost Cybersecurity Market by 2024 4
WHAT SETS CYNERGISTEK APART? CynergisTek brings expertise that is both Cybersecurity & Compliance specific to healthcare & other regulated industries Unique Combination of Cybersecurity, Privacy, and Compliance knowledge with Healthcare and Regulated industry experience Proven client growth Teams led by nationally strategy through recognized experts in trusted advisor their field relationships Codified best practices and deep Potential to leverage reservoir of experience drives engagement insights to be efficiencies of engagements positioned for future opportunities 5
SOLUTIONS OVERVIEW COMPLETE SERVICE OFFERING Managed Services Risk Assessments Vendor Security Services Management Patient Privacy Medical Device Managed Monitoring Service Security Management Services, 56% Professional and Consulting, 44% Professional & Consulting Services Incident Response Red/Purple Ransomware Security Control EPCS Services Readiness Exercise Teaming Assessment Validation GDPR/Data Cloud Security Endpoint Privacy IT Audit Services 20+ Others Assessment Security Compliance 6
MANAGED SERVICES SNAPSHOT Compliance Assist Partner Program Patient Privacy Monitoring Medical Device Security Annual Assessments Experienced professionals review Medical Device Security Technical ▪ Annual Review to identify security gaps documents, processes, and procedures Assessment through several assessments & analyses impacting research, and identify possible ▪ Comprehensive inventory of networked Internal and External Assessment gaps against HIPAA requirements devices and associated vulnerabilities ▪ External: Quarterly ▪ Annual review to identify security gaps Medical Device Security Assessment ▪ Internal: Bi-Annually through several assessments & analyses ▪ Evaluation of security controls & an ▪ Regularly review user activity within identification of gaps or vulnerabilities designated ePHI applications Medical Device Security Management Strategy ▪ Strategy articulating different risk categories and remediation roadmap Vendor Security Management Managed Security Services* Evaluate and monitor vendors on a regular Complete security monitoring solution and and ongoing basis strategic security partnership ▪ Comprehensive assessments ▪ Cloud, Endpoint, SaaS, and Network ▪ Status Updates on vendor participation ▪ 24x7 detection and response with trained and escalation of issues cyber experts ▪ Quarterly Program Report covering high- ▪ Assessment and remediation support level of the vendor program, including recommendations *Currently serviced via referral 7
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