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Metropolis Healthcare announced that the board of directors has approved the acquisition of Dr. Ganesan s Hitech Diagnostic Centre (Hitech).
Established in 1986, Hitech Diagnostic Centre is a diagnostics laboratory chain in the South India market. Metropolis will acquire 100% equity of Dr. Ganesan s Hitech Diagnostic Centre in a combination of cash and stock deal. The entity is a debt free company. This acquisition is expected to be completed within 3 months.
Cash consideration will be Rs. 511 crore and Metropolis will issue up to 4,95,000 equity shares of Face Value Rs.2/- each on preferential basis, subject to Shareholders approval, to the Promoter Group of Hitech. The cash consideration will be funded through internal accruals and debt of up to Rs 300 crore.
The Office for Civil Rights (OCR) at the U.S. Department of Health and Human Services announces its fourteenth settlement of an enforcement action in its HIPAA Right of Access Initiative.
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HITECH Act Amendment Incentivizes Adoption of NIST and Other Recognized Cybersecurity Safeguards as a Defense or Mitigation to HIPAA Enforcement Sunday, January 10, 2021
On January 5, 2020, HR 7898, became law amending the Health Information Technology for Economic and Clinical Health Act (HITECH Act), 42 U.S.C. 17931, to require that “recognized cybersecurity practices” be considered by the Secretary of Health and Human Services (HHS) in determining any Health Insurance Portability and Accountability Act (HIPAA) fines, audit results or mitigation remedies. The new law provides a strong incentive to covered entities and business associates to adopt “recognized cybersecurity practices” and risk reduction frameworks when complying with the HIPAA privacy and security standards to reduce risk associated with security threats and HHS enforcement determinations. Specifically, the earlier adoption of an established, formalized and recognized cybersecurit