Tern Regulatory News (TERN)

23 April 2019

Tern Plc (the "Company", or the "Group")Device Authority announces new strategic partnership and joint customer collaboration for the Internet of Medical Things ("IoMT") 

Tern Plc (AIM: TERN), the investment company specialising in the Internet of Things ("IoT"), is very pleased to note today's announcement from Device Authority ("DA"), the IoT security specialist in which it has a 56.8% holding, regarding a new strategic partnership and joint customer collaboration with Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading information technology, consulting and business process services company. 

Together, Wipro and DA are delivering a joint solution for a large multinational healthcare company which is launching a remote patient monitoring service. This service will be comprised of a variety of different medical devices connecting and transmitting health data, which will require an extra layer of security. Smart medical devices are increasingly part of how specialized treatment is delivered to patients today. According to Deloitte Touche Tohmatsu Limited, the IoMT market is expected to reach $158 billion by 2022. DA's KeyScaler product provides a hybrid security model that provides for patient information security and compliance with HIPAA and GDPR regulations. 

Wipro's worldwide presence, outstanding technical capabilities and understanding of Medical/Healthcare customers provides the strategic partnership with a robust ability to deliver secure, connected and compliant IoMT solutions, as required by the market. 

Al Sisto, CEO of Tern, said: "This is yet another important milestone for DA's Keyscaler product in establishing itself as the "go to product" for solving the security needs of the connected digital medical products marketplace. This new partnership with Wipro, with its winning together approach, provides DA with an expanded reach to develop additional medical opportunities as well as other Wipro market initiatives that require secure IoT solutions."

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