Technology

Beijing Review: Toward a Just World

Published

2 hours ago

November 20, 2024

BEIJING, Nov. 20, 2024 /PRNewswire/ — On November 18 and 19, the 19th Heads of State and Government Summit of the Group of 20 (G20) took place in Rio de Janeiro, Brazil. Chinese President Xi Jinping on November 18 delivered an important speech at Session I of the 19th G20 Summit titled Building a Just World of Common Development.

“I pointed out at this forum that prosperity and stability would not be possible in a world where the rich become richer while the poor are made poorer, and countries should make global development more inclusive, beneficial to all, and more resilient,” Xi said during his speech.

“The day the world becomes more just, life will be simpler.” This is the English version of a quote by Oscar Niemeyer, one of the greatest architects in Brazilian history, whose works include the National Congress Palace of Brazil. On July 16, 2014, Xi quoted this line in a keynote speech he addressed to the Brazilian National Congress during his state visit to Brazil.

By quoting this line, Xi called for joint efforts to promote international fairness and justice and build a harmonious world safeguarded by lasting peace and common prosperity.

The pursuit of fairness and justice in international relations has always been a noble cause in human history. Remaining committed to these values has not only been a time-honored tradition but also an unwavering strength of character in China’s diplomacy.

This commitment can be traced back to the 1950s, when China first put forward the Five Principles of Peaceful Coexistence. This vision has widely resonated with the international community and has since served as the basis for China’s participation in international affairs.

Since the new era began in 2012, China has been actively promoting a new type of international relations, one that focuses on building a community with a shared future for humanity. In support of international fairness and justice, China has put forward practical proposals, including the Global Development Initiative, the Global Security Initiative, and the Global Civilizations Initiative.

Since its proposal in 2013, the country’s Belt and Road Initiative, a strategy to boost connectivity along and beyond the ancient Silk Road routes, has been a powerful driver of growth for its participating countries. Other Chinese initiatives, including the Global Development and South-South Cooperation Fund and the China-UN Peace and Development Fund, have covered more than 100 countries and regions across Asia, Africa, Latin America and Oceania, fostering widespread prosperity and collaboration.

As a key member of the Global South, China has been committed to empowering other developing countries by amplifying their voice and influence in global governance. China was the first country to openly support the African Union’s inclusion in the G20.

In our world today, protectionism and unilateralism are on the rise. The divide between the Global North and South continues to widen. In the face of these challenges, the global community must share the responsibility of safeguarding international fairness and justice. By holding the belief that “the day the world becomes more just, life will be simpler,” we will one day advance to an open, inclusive, clean and beautiful world of lasting peace, universal security and shared prosperity.

Just as Xi said at the end of his speech in Rio de Janeiro, “China is ready to take steps together with all parties to build a just world of common development, leave poverty in the past, and turn our vision into reality.”

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SOURCE Beijing Review

Technology

So-Young Reports Unaudited Third Quarter 2024 Financial Results

Published

51 minutes ago

November 20, 2024

BEIJING, Nov. 20, 2024 /PRNewswire/ — So-Young International Inc. (Nasdaq: SY) (“So-Young” or the “Company”), the largest and most vibrant social community in China for consumers, professionals and service providers in the medical aesthetics industry, today announced its unaudited financial results for the third quarter ended September 30, 2024.

Third Quarter 2024 Financial Highlights

Total revenues were RMB371.8 million (US$53.0 million[1]), compared with RMB385.3 million in the corresponding period of 2023, exceeding the high end of guidance.Net income attributable to So-Young International Inc. was RMB20.3 million (US$2.9 million), compared with net income attributable to So-Young International Inc. of RMB18.3 million in the same period of 2023.Non-GAAP net income attributable to So-Young International Inc.[2] was RMB22.2 million (US$3.2 million), compared with non-GAAP net income attributable to So-Young International Inc. of RMB9.5 million in the same period of 2023.

Third Quarter 2024 Operational Highlights

Average mobile MAUs were 1.4 million, compared with 3.1 million in the third quarter of 2023.Number of medical service providers subscribing to information services on So-Young’s platform was 1,322, compared with 1,397 in the third quarter of 2023.Total number of purchasing users through reservation services was 114.9 thousand and the aggregate value of medical aesthetic treatment transactions facilitated by So-Young’s platform was RMB346.0 million.

Mr. Xing Jin, Co-Founder and Chief Executive Officer of So-Young, said, “Our third quarter performance beat the high end of our guidance once again, highlighting the resilience of our business. Sales of medical products and maintenance services grew by 18.7% year-over-year, becoming a key growth driver contributing to a year-over-year increase in net income. This underscores the effectiveness of our strategy to stay at the forefront of industry trends by deepening the synergies from our vertical integration and continuously diversifying our offerings. Our clinic network has experienced significant growth. The number of stores has grown to 16 by the end of this quarter, extending our presence into additional major cities. All stores are situated in central business districts, enhancing our market coverage and competitive position. To further scale our offline presence, we are accelerating the deployment of this proven standardized model in other cities nationwide and are exploring franchising opportunities to engage with a wider audience. The reputational strength of our brand and our deep understanding of evolving consumer behavior uniquely position us to develop products that resonate with consumer needs. Sales momentum remains robust, driven by both our well-established products and exciting new launches in collaboration with our supply chain partners. Looking ahead, we are committed to seizing opportunities across the entire medical aesthetics value chain while deepening the integration of our three core businesses to maximize operational efficiency, customer satisfaction, and sustainable growth.”

Mr. Hui Zhao, Chief Financial Officer of So-Young, added, “Our third-quarter results reflect our ability to strategically adapt to changing market dynamics. Through disciplined cost management and targeted growth initiatives, we are carefully navigating this challenging market environment while building a solid foundation for future expansion. Encouragingly, our net income and non-GAAP net income attributable to So-Young International Inc. improved significantly, with year-over-year growth rates exceeding 8.9% and 133.1% respectively. Looking ahead, we will leverage our expanding network of clinics and meticulously curated product offerings to address the growing demand for high-quality solutions and services. By maintaining operational efficiency and scalability, we are well-positioned to continue leading the medical aesthetics sector, delivering sustainable growth and long-term value for our shareholders.”

[1] This press release contains translations of certain Renminbi (RMB) amounts into U.S. dollars (US$) solely for the convenience of the reader. Unless otherwise specified, all translations of Renminbi amounts into U.S. dollar amounts in this press release are made at RMB7.0176 to US$1.00, which was the U.S. dollars middle rate announced by the Board of Governors of the Federal Reserve System of the United States on September 30, 2024.

[2] Non-GAAP net income attributable to So-Young International Inc. is defined as net income attributable to So-Young International Inc. excluding share-based compensation expenses attributable to So-Young International Inc. See “Reconciliation of GAAP and Non-GAAP Results” at the end of this press release.

Third Quarter 2024 Financial Results

Revenues

Total revenues were RMB371.8 million (US$53.0 million), a decrease of 3.5% from RMB385.3 million in the same period of 2023. The decrease was primarily due to a decrease in the number of medical service providers subscribing to information services on So-Young’s platform.

Information services and other revenues were RMB263.0 million (US$37.5 million), a decrease of 8.0% from RMB285.9 million in the same period of 2023. The decrease was primarily due to a decrease in the number of medical service providers subscribing to information services on So-Young’s platform.Reservation services revenues were RMB19.6 million (US$2.8 million), a decrease of 18.9% from RMB24.1 million in the same period of 2023. The decrease was primarily due to a decrease in consumer spending through our platform.Sales of medical products and maintenance services were RMB89.3 million (US$12.7 million), an increase of 18.7% from RMB75.2 million in the same period of 2023, primarily due to an increase in the order volumes for cosmetic products and medical equipment.

Cost of Revenues

Cost of revenues was RMB142.2 million (US$20.3 million), a decrease of 0.3% from RMB142.6 million in the third quarter of 2023. The decrease was primarily due to a decrease in the cost of services associated with the information services. Cost of revenues included share-based compensation expenses of RMB0.1 million (US$0.0 million), compared with the share-based compensation expenses of RMB0.4 million in the corresponding period of 2023.

Cost of services and others were RMB98.6 million (US$14.1 million), a decrease of 4.7% from RMB103.5 million in the third quarter of 2023. The decrease was primarily due to a decrease in the cost of services associated with the information services.Cost of medical products sold and maintenance services were RMB43.5 million (US$6.2 million), an increase of 11.3% from RMB39.1 million in the third quarter of 2023. The increase was primarily due to an increase in costs associated with the sales of cosmetic products.

Operating Expenses

Total operating expenses were RMB225.0 million (US$32.1 million), a decrease of 8.1% from RMB244.7 million in the third quarter of 2023.

Sales and marketing expenses were RMB114.9 million (US$16.4 million), a decrease of 20.1% from RMB143.8 million in the third quarter of 2023. The decrease was mainly due to a decrease in expenses associated with branding and user acquisition activities. Sales and marketing expenses included share-based compensation expenses of RMB0.2 million (US$0.0 million), compared with RMB0.5 million in the corresponding period of 2023.General and administrative expenses were RMB69.9 million (US$10.0 million), an increase of 39.1% from RMB50.2 million in the third quarter of 2023. The increase was primarily due to an increase in share-based compensation expenses. General and administrative expenses included share-based compensation expenses of RMB1.3 million (US$0.2 million), compared with a reversal of share-based compensation expenses of RMB11.2 million in the corresponding period of 2023.Research and development expenses were RMB40.2 million (US$5.7 million), a decrease of 20.6% from RMB50.6 million in the third quarter of 2023. The decrease was primarily attributable to improvements in staff efficiency. Research and development expenses included share-based compensation expenses of RMB0.3 million (US$0.0 million), compared with RMB1.5 million in the corresponding period of 2023.

Income Tax (Expenses)/Benefits

Income tax expenses were RMB2.1 million (US$0.3 million), compared with income tax benefits of RMB2.2 million in the same period of 2023.

Net Income Attributable to So-Young International Inc.

Net income attributable to So-Young International Inc. was RMB20.3 million (US$2.9 million), compared with a net income attributable to So-Young International Inc. of RMB18.3 million in the third quarter of 2023.

Non-GAAP Net Income Attributable to So-Young International Inc.

Non-GAAP net income attributable to So-Young International Inc., which excludes the impact of share-based compensation expenses attributable to So-Young International Inc., was RMB22.2 million (US$3.2 million), compared with RMB9.5 million non-GAAP net income attributable to So-Young International Inc. in the same period of 2023.

Basic and Diluted Earnings per ADS

Basic and diluted earnings per ADS attributable to ordinary shareholders were RMB0.20 (US$0.03) and RMB0.20 (US$0.03), respectively, compared with basic and diluted earnings per ADS attributable to ordinary shareholders of RMB0.18 and RMB0.18, respectively, in the same period of 2023.

Cash and Cash Equivalents, Restricted Cash and Term Deposits, Term Deposits and Short-Term Investments

As of September 30, 2024, cash and cash equivalents, restricted cash and term deposits, term deposits and short-term investments were RMB1,252.6 million (US$178.5 million), compared with RMB1,341.6 million as of December 31, 2023.

Business Outlook

For the fourth quarter of 2024, So-Young expects total revenues to be between RMB350.0 million (US$49.9 million) and RMB370.0 million (US$52.7 million), representing a 10.4% to 5.3% decrease from the same period in 2023. The above outlook is based on the current market conditions and reflects the Company’s preliminary estimates of market and operating conditions, as well as customer demand, which are all subject to change.

Non-GAAP Financial Measures

To supplement the financial measures prepared in accordance with generally accepted accounting principles in the United States, or GAAP, this press release presents non-GAAP income/(loss) from operations and non-GAAP net income attributable to So-Young International Inc. by excluding share-based compensation expenses from income/(loss) from operations and net income attributable to So-Young International Inc., respectively. The Company believes these non-GAAP financial measures are important to help investors understand the Company’s operating and financial performance, compare business trends among different reporting periods on a consistent basis and assess the Company’s core operating results, as they exclude certain expenses that are not expected to result in cash payments. The use of the above non-GAAP financial measures has certain limitations. Share-based compensation expenses have been and will continue to be incurred in the future. All these are not reflected in the presentation of the non-GAAP financial measures, but should be considered in the overall evaluation of the Company’s results. The Company compensates for these limitations by providing the relevant disclosure of its share-based compensation expenses in the reconciliations to the most directly comparable GAAP financial measures, which should be considered when evaluating the Company’s performance. These non-GAAP financial measures should be considered in addition to financial measures prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, financial measures prepared in accordance with GAAP. Reconciliation of each of these non-GAAP financial measures to the most directly comparable GAAP financial measure is set forth at the end of this release.

Conference Call Information

So-Young’s management will hold an earnings conference call on Wednesday, November 20, 2024, at 7:00 AM U.S. Eastern Time (8:00 PM on the same day, Beijing/Hong Kong Time). Dial-in details for the earnings conference call are as follows:

International:

+1-412-902-4272

Mainland China:

4001-201203

US:

+1-888-346-8982

Hong Kong:

+852-301-84992

Passcode:

So-Young International Inc.

A telephone replay will be available two hours after the conclusion of the conference call through 23:59 U.S. Eastern Time, November 27, 2024. The dial-in details are:

International:

+1-412-317-0088

US:

+1-877-344-7529

Passcode:

2642052

Additionally, a live and archived webcast of this conference call will be available at http://ir.soyoung.com.

About So-Young International Inc.

So-Young International Inc. (Nasdaq: SY) is the largest and most vibrant social community in China for consumers, professionals and service providers in the medical aesthetics industry. The Company presents users with reliable information through offering high quality and trustworthy content together with a multitude of social functions on its platform, as well as by curating medical aesthetic service providers that are carefully selected and vetted. Leveraging So-Young’s strong brand image, extensive audience reach, trust from its users, highly engaging social community and data insights, the Company is well-positioned to expand both along the medical aesthetic industry value chain and into the massive, fast-growing consumption healthcare service market.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Financial Guidance and quotations from management in this announcement, as well as So-Young’s strategic and operational plans, contain forward-looking statements. So-Young may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about So-Young’s beliefs and expectations, are forward-looking statements. Forward looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: So-Young’s strategies; So-Young’s future business development, financial condition and results of operations; So-Young’s ability to retain and increase the number of users and medical service providers, and expand its service offerings; competition in the online medical aesthetic service industry; changes in So-Young’s revenues, costs or expenditures; Chinese governmental policies and regulations relating to the online medical aesthetic service industry, general economic and business conditions globally and in China; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and So-Young undertakes no duty to update such information, except as required under applicable law.

For more information, please contact:

So-Young

Investor Relations
Ms. Mona Qiao
Phone: +86-10-8790-2012
E-mail: ir@soyoung.com

Christensen

In China
Ms. Dee Wang
Phone: +86-10-5900-1548
E-mail: dee.wang@christensencomms.com

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com

SO-YOUNG INTERNATIONAL INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands, except for share and per share data)

As of

December 31,

September 30,

2023

2024

RMB

US$

Assets

Current assets:

Cash and cash equivalents

426,119

467,407

66,605

Restricted cash and term deposits

14,695

104,198

14,848

Trade receivables

57,219

106,943

15,239

Inventories

118,924

145,601

20,748

Receivables from online payment platforms

23,158

31,666

4,512

Amounts due from related parties

9,212

10,466

1,491

Term deposits and short-term investments

900,823

681,035

97,047

Prepayment and other current assets

171,774

221,227

31,525

Total current assets

1,721,924

1,768,543

252,015

Non-current assets:

Long-term investments

261,016

287,507

40,969

Intangible assets

145,253

131,641

18,759

Goodwill

540,693

77,048

Property and equipment, net

116,782

154,572

22,026

Deferred tax assets

78,034

81,057

11,551

Operating lease right-of-use assets

118,408

159,179

22,683

Other non-current assets

232,455

180,628

25,739

Total non-current assets

1,492,641

1,535,277

218,775

Total assets

3,214,565

3,303,820

470,790

Liabilities

Current liabilities:

Short-term borrowings

29,825

89,559

12,762

Taxes payable

56,894

53,639

7,643

Contract liabilities

103,374

94,747

13,501

Salary and welfare payables

86,290

84,927

12,102

Amounts due to related parties

388

146

Accrued expenses and other current liabilities

233,913

244,721

34,873

Operating lease liabilities-current

29,739

40,398

5,757

Total current liabilities

540,423

608,137

86,659

Non-current liabilities:

Operating lease liabilities-non current

86,210

124,915

17,800

Deferred tax liabilities

25,082

20,780

2,961

Other non-current liabilities

1,536

1,607

229

Total non-current liabilities

112,828

147,302

20,990

Total liabilities

653,251

755,439

107,649

SO-YOUNG INTERNATIONAL INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Continued)

(Amounts in thousands, except for share and per share data)

Shareholders’ equity:

Treasury stock

(358,453)

(369,907)

(52,711)

Class A ordinary shares (US$0.0005 par value; 750,000,000
shares authorized as of December 31, 2023 and September
30, 2024; 73,688,044 and 63,422,436 shares issued and
outstanding as of December 31, 2023, 77,634,580 and
66,170,882 shares issued and outstanding as of September
30, 2024, respectively)

238

252

Class B ordinary shares (US$ 0.0005 par value; 20,000,000
shares authorized as of December 31, 2023 and September
30, 2024; 12,000,000 shares issued and outstanding as of
December 31, 2023 and September 30, 2024)

Additional paid-in capital

3,080,433

3,067,567

437,125

Statutory reserves

33,855

4,824

Accumulated deficit

(330,166)

(312,117)

(44,476)

Accumulated other comprehensive income

18,185

8,858

1,262

Total So-Young International Inc. shareholders’ equity

2,444,129

2,428,545

346,065

Non-controlling interests

117,185

119,836

17,076

Total shareholders’ equity

2,561,314

2,548,381

363,141

Total liabilities and shareholders’ equity

3,214,565

3,303,820

470,790

SO-YOUNG INTERNATIONAL INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Amounts in thousands, except for share and per share data)

For the Three Months Ended

For the Nine Months Ended

September
30, 2023

September
30, 2024

September
30, 2023

September
30, 2024

RMB

US$

RMB

US$

Revenues:

Information services and others

285,937

262,988

37,475

795,100

750,952

107,010

Reservation services

24,140

19,567

2,788

80,724

64,987

9,261

Sales of medical products and maintenance services

75,217

89,270

12,721

231,639

281,548

40,120

Total revenues

385,294

371,825

52,984

1,107,463

1,097,487

156,391

Cost of revenues:

Cost of services and others

(103,484)

(98,620)

(14,053)

(291,503)

(274,695)

(39,144)

Cost of medical products sold and maintenance services

(39,119)

(43,548)

(6,206)

(115,199)

(139,839)

(19,927)

Total cost of revenues

(142,603)

(142,168)

(20,259)

(406,702)

(414,534)

(59,071)

Gross profit

242,691

229,657

32,725

700,761

682,953

97,320

Operating expenses:

Sales and marketing expenses

(143,844)

(114,884)

(16,371)

(394,276)

(360,448)

(51,363)

General and administrative expenses

(50,242)

(69,901)

(9,961)

(204,097)

(225,653)

(32,155)

Research and development expenses

(50,597)

(40,188)

(5,727)

(158,531)

(122,277)

(17,424)

Total operating expenses

(244,683)

(224,973)

(32,059)

(756,904)

(708,378)

(100,942)

(Loss)/Income from operations

(1,992)

4,684

666

(56,143)

(25,425)

(3,622)

Other income/(expenses):

Investment income, net

647

510

10,869

3,397

484

Interest income, net

12,130

14,239

2,029

38,023

38,270

5,453

Exchange gains/(losses)

103

465

(1,051)

875

125

Share of losses of equity method investee

(3,822)

(3,873)

(552)

(10,692)

(11,602)

(1,653)

Others, net

9,887

6,915

985

18,474

12,234

1,743

Income/(Loss) before tax

16,953

22,940

3,267

(520)

17,749

2,530

Income tax benefits/(expenses)

2,191

(2,097)

(299)

7,240

3,031

432

Net income

19,144

20,843

2,968

6,720

20,780

2,962

Net income attributable to noncontrolling interests

(839)

(495)

(71)

(2,941)

(2,731)

(389)

Net income attributable to So-Young International Inc.

18,305

20,348

2,897

3,779

18,049

2,573

SO-YOUNG INTERNATIONAL INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Continued)

(Amounts in thousands, except for share and per share data)

For the Three Months Ended

For the Nine Months Ended

September
30, 2023

September
30, 2024

September
30, 2023

September
30, 2024

RMB

US$

RMB

US$

Net earnings per ordinary share

Net earnings per ordinary share attributable to ordinary shareholder – basic

0.24

0.26

0.04

0.05

0.23

0.03

Net earnings per ordinary share attributable to ordinary shareholder – diluted

0.24

0.26

0.04

0.05

0.23

0.03

Net earnings per ADS attributable to ordinary shareholders – basic (13 ADS
represents 10 Class A ordinary shares)

0.18

0.20

0.03

0.04

0.18

0.03

Net earnings per ADS attributable to ordinary shareholders – diluted (13 ADS
represents 10 Class A ordinary shares)

0.18

0.20

0.03

0.04

0.18

0.03

Weighted average number of ordinary shares used in computing earnings/(loss)
per share, basic*

76,842,709

79,493,819

78,001,149

79,544,066

Weighted average number of ordinary shares used in computing earnings/(loss)
per share, diluted*

77,210,781

79,708,518

78,402,636

79,810,666

Share-based compensation expenses included in:

Cost of services and others

(418)

(81)

(12)

(1,635)

(255)

(36)

Sales and marketing expenses

(533)

(183)

(26)

(2,850)

(420)

(60)

General and administrative expenses

11,164

(1,328)

(189)

(10,400)

(27,796)

(3,961)

Research and development expenses

(1,454)

(309)

(44)

(3,636)

(1,969)

(281)

* Both Class A and Class B ordinary shares are included in the calculation of the weighted average number of ordinary shares outstanding, basic and diluted.

SO-YOUNG INTERNATIONAL INC.

Reconciliation of GAAP and Non-GAAP Results

(Amounts in thousands, except for share and per share data)

For the Three Months Ended

For the Nine Months Ended

September
30, 2023

September
30, 2024

September
30, 2023

September
30, 2024

RMB

US$

RMB

US$

GAAP (loss)/income from operations

(1,992)

4,684

666

(56,143)

(25,425)

(3,622)

Add back: Share-based compensation expenses

(8,759)

1,901

271

18,521

30,440

4,338

Non-GAAP (loss)/income from operations

(10,751)

6,585

937

(37,622)

5,015

716

GAAP net income attributable to So-Young International Inc.

18,305

20,348

2,897

3,779

18,049

2,573

Add back: Share-based compensation expenses

(8,759)

1,901

271

18,521

30,440

4,338

Non-GAAP net income attributable to So-Young International Inc.

9,546

22,249

3,168

22,300

48,489

6,911

View original content:https://www.prnewswire.com/news-releases/so-young-reports-unaudited-third-quarter-2024-financial-results-302311180.html

SOURCE So-Young International Inc.

Technology

Cynerio Recognized As Top 100 Healthcare Technology Companies of 2024 by The Healthcare Technology Report

Published

51 minutes ago

November 20, 2024

LONDON, Nov. 20, 2024 /PRNewswire/ — Cynerio, a leading innovator in healthcare cybersecurity, today announced its recognition among The Healthcare Technology Report’s Top 100 Healthcare Technology Companies for 2024. This distinction highlights Cynerio’s pivotal advancements this year, from its breakthrough innovations in generative AI-driven security to the industry’s first healthcare-specific Network Detection and Response (NDR) solution, positioning Cynerio as the benchmark for effective cybersecurity in healthcare.

2024 has been a transformative year for Cynerio. Amid a rise in healthcare-targeted cyberattacks — now affecting U.S. hospitals at an unprecedented rate of every 7.1 minutes — Cynerio has proactively responded with innovations that prioritize healthcare’s unique security needs. By expanding its solutions beyond medical device security to encompass the entire clinical network, Cynerio has provided healthcare organizations with comprehensive, actionable defenses that protect against ransomware, ensure regulatory compliance, and deliver unmatched visibility into connected device risks.

“Being named to The Healthcare Technology Report’s Top 100 list reflects the tremendous strides Cynerio has made this year,” said Leon Lerman, CEO and Co-Founder of Cynerio. “Our goal has always been to anticipate and outpace the cybersecurity challenges healthcare faces, and this year we’ve not only expanded our geographic footprint but also reshaped what’s possible in healthcare security with new generative AI capabilities and NDR technology specifically tailored to this sector. We’re honored by this recognition, and even more energized to continue our mission in 2025, helping healthcare providers around the world navigate the rising tide of cyber threats.”

This year’s achievements solidify Cynerio’s reputation as the “first mover” in critical healthcare cybersecurity technologies. By integrating generative AI into its platform, Cynerio enables real-time threat detection, rapid incident response, and cross-customer benchmarking — all with the scalability to support healthcare providers worldwide. Cynerio’s cloud-based capabilities and deep focus on healthcare-specific vulnerabilities have resonated with hospitals and healthcare systems globally, driving the company’s footprint across the U.S., Europe, and new regions in 2024.

With the new year on the horizon, Cynerio remains committed to driving the next wave of cybersecurity in healthcare, ensuring that every healthcare facility, regardless of size, has access to innovative tools to combat cyber threats. Looking to 2025, Cynerio plans to build on its platform with additional AI-driven insights, new strategic partnerships, and expanded coverage, empowering healthcare providers to face rising challenges and secure their digital future with confidence.

About Cynerio:

Cynerio’s Healthcare Cybersecurity Platform is tailored to safeguard medical environments against constantly evolving threats. From real-time detection of malicious network activity to strategic micro-segmentation guidance, Cynerio delivers a suite of proactive and reactive protections that elevate the security of healthcare facilities and ensure the safety of patients. For more information visit www.cynerio.com.

Media Contact:
Name: Vicki Michaeli
Email: vicki@cynerio.com

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Technology

ODAIA Announces Voice AI for Biopharma to Advance Healthcare Professional Engagement

Published

51 minutes ago

November 20, 2024

New ODAIA Voice Assistant will allow sales reps to access AI-driven insights in real time using voice commands on mobile devices

BOSTON, Nov. 20, 2024 /PRNewswire/ — ODAIA today announced a new voice AI assistant for biopharma sales teams. ODAIA Voice Assistant will help reps access relevant and accurate AI-driven insights in real time by speaking into their mobile device. Now reps can quickly find healthcare professional (HCP) information on the go, enhance pre-call planning, and get personalized recommendations about which physicians to engage next—all through voice commands instead of typing or clicking.

Sales reps juggle multiple tools to gather insights, including CRM for engagement history, dashboards for prescription and patient information, and business intelligence systems for market analysis. This fragmented workflow slows the last mile of field execution. While some companies now use AI chatbots with their raw data to find information, these tools often deliver inaccurate, incomplete, and unreliable insights that reps can’t act on.

ODAIA solves these limitations with voice AI that goes beyond just raw data. ODAIA’s advanced AI engines generate intelligence on HCP and patient behavior changes, untapped market trends and opportunities, and sales team performance. Large language models (LLMs) then translate these insights into clear, actionable stories that sales reps can easily understand and quickly access with Voice Assistant.

“Voice-first technology will become standard in life sciences”, said Philip Poulidis, CEO at ODAIA. “What makes voice AI valuable is the intelligence it can tap into, not the raw data. With ODAIA Voice Assistant, we’re not just addressing the challenges commercial teams face today but setting the foundation for future voice-first interfaces that transform how sales reps engage with data, make decisions, and deliver meaningful outcomes for providers and patients.”

Speaking is three times faster than typing and more accurate.1 But most generic AI chatbots and standard GenAI tools slow users down and frustrate them because of the technology’s failed attempts to make sense of raw data and its need for precise phrasing and repeated corrections. Voice Assistant solves this problem with voice AI technology purpose-built for biopharma, delivering accurate and relevant insights through natural conversations.

Voice Assistant is powered by MAPTUAL, ODAIA’s proprietary platform of AI engines specifically designed for the biopharma industry. MAPTUAL uses a modular approach to analyze complex datasets and provide real-time insights into a physician’s changing behaviors, prescribing trends, and potential brand impact. Voice Assistant taps into these insights and uses GenAI to go beyond surface-level responses and dynamically adapt during conversations, offering personalized, relevant guidance that enhances HCP engagement.

ODAIA Voice Assistant is expected to be available for early adopters in the second quarter of 2025. To learn how to be an early adopter, visit: www.odaia.ai/voice-assistant.

Also, see how ODAIA Voice Assistant will enable the biopharma industry’s shift to voice AI at our Innovation Theater Session during Veeva Commercial Summit Europe on Nov. 21 at 10:00 a.m. CET. CEO Philip Poulidis will demonstrate how to plan daily schedules, personalize interactions with HCPs, and make informed decisions using ODAIA integrated with Veeva Vault CRM. To meet with ODAIA, book a meeting here.

About ODAIA
ODAIA is the leading AI company helping life sciences companies innovate their commercial strategies using Customer Science. The company’s cloud solution, MAPTUAL, integrates data science, behavioral science, and AI to gain a deep understanding of healthcare professionals (HCPs) and their patient decisions across the entire customer journey. To learn more about ODAIA, visit our website or follow us on LinkedIn.

1 https://faculty.washington.edu/wobbrock/pubs/ubicomp-17.pdf

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SOURCE ODAIA