WELL Health's Cycura Announces Two Tuck-In Acquisitions to Enhance Patient Data Protection and Appoints New Management

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Oct 26, 2023, 07:00 ET

WELL's Cybersecurity Business Unit, Cycura, has acquired Seekintoo, a provider of Cybersecurity Operations Center services, ensuring enterprise clients receive 24/7 vigilant threat protection through managed detection.
Cycura has also acquired Proack, a premier provider of offensive security assessments, including high quality penetration testing, red teaming, social engineering, and infrastructure testing.
WELL is pleased to announce new appointees to Cycura's management team, including Paul Morgan, Cycura's new CEO who previously served as Seekintoo's CEO.
Cycura now supports over 200,000 end-users, many of which support mission critical healthcare functions, extends cybersecurity protection to more than 10,000 servers, and serves approximately 190 corporate and government entities across North America.

VANCOUVER, BC and TORONTO, Oct. 26, 2023 /PRNewswire/ - WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) ("WELL"), a digital healthcare company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, is pleased to announce the acquisitions of Seekintoo Ltd. ("Seekintoo") and Proack Security Inc. ("Proack") by WELL's Cybersecurity Business Unit, Cycura.

Amir Javidan, Chief Operating Officer of WELL, commented, "We are thrilled to welcome the Seekintoo and Proack teams to Cycura. These acquisitions demonstrate WELL and Cycura's steadfast commitment to safeguarding patient trust and operational integrity. WELL has bolstered its cybersecurity portfolio with two strategic, tuck-in acquisitions, bringing onboard seasoned cybersecurity professionals in the process, and strengthening our capability to serve over 190 corporate and government customers across North America."

Iain Paterson, Chief Security Officer of WELL, stated, "Proactively identifying and mitigating threats remains at the forefront of our cybersecurity roadmap. These newly acquired capabilities signify our commitment to protecting and further advancing the empowerment of patient health information (PHI) at scale. As the digital landscape of healthcare grows in complexity, we are investing in, and leveraging, AI technology heavily in our cybersecurity programs both internally and customer facing.

Paul Morgan, Cycura's new CEO, commented, "I am very pleased to join the talented team at Cycura, which includes industry veterans and professionals from Source 44, and now, talented team members from Proack and Seekintoo. Given all of the capabilities now contained at Cycura, one would be hard pressed to find a more capable and proactive partner to protect data. Our goal is to add Cycura to the list of $100 million/year in revenue businesses at WELL over the next several years as we seek to build on the solid foundation already built and amplify this special business to further protect healthcare and other data all over North America."

The first acquisition, Seekintoo, provides Cyber Security Operations Center services to enterprise clients, equipping them with a managed detection responder service that assures 24/7 vigilant protection against threats. This acquisition closed August 1^st, and Seekintoo is currently being integrated into Cycura. Paul Morgan, CEO of Seekintoo, joins WELL with decades of industry and management expertise, and has been appointed as the new CEO of Cycura.

Proack, WELL's second acquisition, is a premier provider of offensive security assessments, specializing in penetration testing, red teaming, social engineering, and infrastructure testing. These strategic moves serve to enhance Cycura's cybersecurity capabilities significantly, while also reinforcing the commitment to maintaining patient trust and operational integrity across all of WELL's businesses. Proack is set to be integrated into the Cycura platform, with principals Craig Barretto and Yuk Fai Chan anticipated to play a key role in advancing offensive security initiatives. Both Mr. Barretto and Mr. Chan bring decades of experience in cybersecurity consulting, threat identification, and penetration testing to the team.

With targeted improvements in threat detection capabilities and response strategies, Cycura is diligently working to enhance cybersecurity support for over 200,000 end-users and extend protective measures across more than 10,000 servers. This includes thousands of physicians who can focus on providing care and know that their patients' data is protected by Cycura's industry leading solutions. WELL envisions the potential of AI-enabled cybersecurity to further advance its growth strategies and defensive capabilities, in collaboration with industry partners. This positions the company to adapt and lead in a rapidly changing environment. As the cybersecurity industry witnesses substantial growth, driven by companies increasing their investments, WELL remains optimistic about its ability to expand its business and seize a greater market share within the sector.

WELL HEALTH TECHNOLOGIES CORP.

Per: "Hamed Shahbazi"

Hamed Shahbazi

Chief Executive Officer, Chairman and Director

About WELL Health Technologies Corp.

WELL's mission is to tech-enable healthcare providers. We do this by developing the best technologies, services, and support available, which ensures healthcare providers are empowered to positively impact patient outcomes. WELL's comprehensive healthcare and digital platform includes extensive front and back-office management software applications that help physicians run and secure their practices. WELL's solutions enable more than 31,000 healthcare providers between the US and Canada and power the largest owned and operated healthcare ecosystem in Canada with more than 148 clinics supporting primary care, specialized care, and diagnostic services. In the United States WELL's solutions are focused on specialized markets such as the gastrointestinal market, women's health, primary care, and mental health. WELL is publicly traded on the Toronto Stock Exchange under the symbol "WELL" and on the OTC Exchange under the symbol "WHTCF". To learn more about WELL, please visit: www.well.company/.

SOURCE WELL Health Technologies Corp.