Wednesday, September 4th 2002
Kryptiq Delivers Healthcare Productivity Through New Approach to Secure Email
Community of Healthcare Providers Connected through Improved Workflow Solutions
PORTLAND, OR — September 4, 2002 — Kryptiq Corp., a provider of secure email solutions, today announced the company ‘s business strategy to address the growing needs of the healthcare market for a simpler way to use secure email as a critical business tool. The company’s secure email products will enable healthcare organizations to extend existing email solutions to achieve HIPAA compliance and improve communication efficiencies in the complete healthcare cycle.
Because healthcare organizations range in size and IT complexity—from one-person practices to large multi-hospital networks—each group uses a different system to handle and exchange patient data. The lack of a secure, easy-to-use system of exchanging confidential medical and financial information introduces unnecessary friction and costs to an industry already under tremendous cost pressures and regulatory requirements.
“One of the biggest challenges facing healthcare is finding a way to integrate disparate information systems,” said Luis Machuca, chief executive officer of Kryptiq. “By taking advantage of the ubiquity of email and making it secure, Kryptiq allows healthcare organizations to exchange confidential patient information easily while enabling unprecedented integration of existing enterprise information infrastructures through enhanced workflows.”
The Healthcare Information Technology (H.I.T.) market in 2002 is gaining momentum, rising 8% in 2002 from $20 billion in 2001 to an expected $21.6 billion, according to a recent report issued by Dorenfest & Associates, a leading healthcare consulting firm. “Significant emphasis will be placed on simplifying and improving work flow by reducing redundant, convoluted, and tangled work processes,” said Sheldon I. Dorenfest, chief executive officer of Dorenfest & Associates. The report also predicted that the H.I.T. market will grow to $25.6 billion by 2004.
Kryptiq has a comprehensive corporate infrastructure in place to capitalize on this growing market opportunity with an organization that represents combined expertise in the healthcare and technology markets. This experienced team has also attracted a distinguished board of directors and advisors. The company, which received Angel funding from a group of private investors, is led by CEO Luis Machuca, former Intel veteran and executive vice president at PB-NEC Corp. Kryptiq Board of Directors includes Andy Bryant (Intel CFO), Dr. Charles Kilo, MD (Greenfield Health Systems CEO and prominent national figure on medical email) and Frank Gill (Former Intel EVP and Technology Industry leader). Advisors include Chris Gibbons (former Microsoft CIO), Sreekanth Ravi (Chairman & Founder of Sonicwall) and Badri Prasad (Director at United Healthcare/Ingenix).
About Kryptiq
Kryptiq, based in Portland, Oregon, develops secure messaging solutions that integrate email with the workflow of healthcare organizations. Kryptiq's technology leverages secure email messaging as the information transport mechanism to deliver electronic health data between health care professionals and the software systems that support them. The company's customers include providers, transcription companies, laboratories, payers, disease management vendors and other health care IT vendors. For more information visit the company on the Web at http://www.kryptiq.com/.
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Legal Notice: All rights reserved. Kryptiq is either a trademark or registered trademark and the Kryptiq logo is a service mark of Kryptiq Corp. Product specifications are subject to change without notice. Microsoft Outlook is a trademark or registered trademark of Microsoft Corp. in the United States and other countries.
For more information, press only:
Jason Gedeik
MacKenzie Kesselring, Inc.
Tel: (503) 225-0725 ext. 250
jasong@mkinc.com
