On Tuesday, device security company Forescout Technologies announced the acquisition of healthcare cybersecurity provider CyberMDX for an undisclosed amount.
Forescout provides a wide range of services for computing, IoT, OT and IoMT devices, making the acquisition of CyberMDX key to their expansion into the healthcare market.
“Forescout is growing rapidly in the healthcare industry, a market the company has always focused on from a technology and sales perspective,” said Wael Mohamed, CEO of Forescout. “Cybersecurity for IoMT, like cybersecurity for OT devices, requires specific expertise and technologies. We are excited to have the CyberMDX team join Forescout as we continue to deliver new capabilities on our leading platform. of the market and to develop our R&D center.”
The companies added that with the merger, the two will have “a powerful platform that delivers an easy-to-use, scalable, and agentless approach to visibility, classification, threat detection, and incident response.” focused on IoMT devices to better serve healthcare organizations.”
Forescout previously acquired industrial control systems company SecurityMatters for $133 million in an all-cash deal in 2018. Forescout itself was acquired by global private equity investor Advent International in the part of a February 2020 deal worth $1.9 billion. The deal nearly fell apart due to the pandemic, but was eventually settled at a 12% lower price in July 2020.
Forescout claimed to have the most deployments of OT infrastructure protection solutions in the world and is currently working with hospitals like the University Health Network in Toronto.
Mohammad said ZDNet that the challenges facing healthcare organizations worldwide as OT and IoMT devices come online have prompted them to work with CyberMDX to provide broad and specialized capabilities for deeper visibility and granularity .
“Forescout saw strong growth in our healthcare business in 2021, and we saw the need for deeper medical device coverage. We conducted a thorough assessment and found a great partner and technology solution in CyberMDX The combination of these two companies means that we will be able to provide the highest quality of device visibility and risk assessment coverage for healthcare organizations around the world.CyberMDX will continue to operate as a stand-alone business. Mohammad said.
“For Forescout, the acquisition of CyberMDX enhances our ability to meet the growing demands and requirements of biomedical and clinical teams. The combined Forescout-CyberMDX solution delivers high-value cybersecurity automation capabilities that enable healthcare customers to continuously comply with healthcare regulations and best practices. enables our customers to make easier purchasing decisions and manage their network with a single solution. For CyberMDX, being acquired by Forescout means partnering with a great global leader in cybersecurity to continue its mission of protecting the things that protect human lives.
Amir Magner, president and co-founder of CyberMDX, said the move will help the company continue its work to provide healthcare facilities with broader cybersecurity protection.
“CyberMDX enables hospitals to deliver quality care by securing and protecting the systems and devices they rely on every day to treat patients and save lives,” Magner said. “We are excited to join the Forescout team where our innovation can continue to make a profound difference for healthcare organizations around the world.”