The multinational healthcare services company Tenet recently disclosed how financially detrimental a recent cyberattack experience was for the organization’s quarterly earnings.
In a report filed with the Securities and Exchange Commission (SEC), Tenet Healthcare reported that a cyberattack the company suffered in April cost an estimated $100 million “unfavorable impact” on the organization’s second quarter.
Tenet operates over 600 healthcare facilities, including 465 ambulatory surgery centers and surgical hospitals, 60 hospitals and 110 outpatient centers.
The $100 million financial impact from the “disruptive cyberattack” was caused by lost revenues and remediation costs. Tenet reports that the cybersecurity incident temporarily disrupted a subset of acute care operations, but the hospitals remained operational and continued to deliver patient care using established backup processes.
Read the full article at Security Magazine.