Innodata Successfully Implements Business Continuity Plan; Commits to Serving Medical Community for Data Analytics for COVID-19 Emergency

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Primary Exchange: NASDAQ
Under the Symbol: INOD

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Innodata Successfully Implements Business Continuity Plan; Commits to Serving Medical Community for Data Analytics for COVID-19 Emergency

Monday, March 30, 2020 8:30 AM

NEW YORK, NY / ACCESSWIRE / March 30, 2020 / INNODATA INC. (NASDAQ:INOD) announced today that it had initiated its business continuity plan (BCP) on March 11, 2020, as a result of which 3,600 of Innodata's data analysts and support team members (91% of total) are continuing to work remotely with near full productivity across Innodata's 12 global locations. It also announced that it is offering the global medical community data platforms and services at no-charge or reduced-charge to help fight the COVID-19 emergency.

As a result of having initiated its BCP, Innodata is able to continue operations for most of its customers while safeguarding the health and welfare of its employees. Innodata provides data services that relate to essential services including food distribution, evidence-based medicine, healthcare record management, regulatory change, and global news monitoring.

As the global medical community harnesses medical data analytics in the fight against COVID-19, Innodata is offering healthcare institutions, research institutions, and pharmaceutical companies data extraction, data preparation, and data analytics platforms and services at no-charge or reduced-charge (as circumstances warrant), including but not limited to:

  • Medical file data extraction and analysis for cohort studies
  • Data analytics related to clinical trials and treatment efficacy
  • Data preparation for AI and Machine Learning-based solutions
  • Supervision and training of AI and Machine Learning models

Institutions may contact us at [email protected].

"As the global community is responding to the emergence and spread of COVID-19, our priorities are the safety of our staff and maintaining business continuity for our valued customers, while supporting wherever possible the global response to this evolving crisis," stated Jack Abuhoff, Innodata CEO.

About Innodata

Innodata (NASDAQ: INOD) is a leading data engineering company. Prestigious companies across the globe turn to Innodata for help with their biggest data challenges. By combining advanced machine learning and artificial intelligence (ML/AI) technologies, a global workforce of over 3,000 subject matter experts, and a high-security infrastructure, we're helping usher in the promise of digital data and ubiquitous AI.

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Words such as "project," "head start," "believe," "expect," "can," "continue," "could," "intend," "may," "should," "will," "anticipate," "indicate," "point to," "forecast," "predict," "likely," "goals," "optimistic," "foster," "estimate," "plan," "potential," or the negatives thereof and other similar expressions generally identify forward-looking statements, which speak only as of the date hereof.

These forward-looking statements are based on our management's current expectations, assumptions and estimates and are subject to a number of risks and uncertainties, including without limitation, that contracts may be terminated by clients; projected or committed volumes of work may not materialize in whole or in part; the primarily at-will nature of contracts with our Digital Data Solutions clients and the ability of these clients to reduce, delay or cancel projects; the likelihood of continued development of the markets, particularly new and emerging markets, that our services support; continuing Digital Data Solutions segment revenue concentration in a limited number of clients; continuing Digital Data Solutions segment reliance on project-based work; our inability to replace projects that are completed, canceled or reduced; our dependency on third-party content providers in our Agility segment; difficulty in integrating and deriving synergies from acquisitions, joint ventures and strategic investments; potential undiscovered liabilities of companies and businesses that we may acquire; potential impairment of the carrying value of goodwill and other acquired intangible assets of companies and businesses that we acquire; changes in our business or growth strategy; depressed market conditions; changes in external market factors; the ability and willingness of our clients and prospective clients to execute business plans which give rise to requirements for our services; changes in our business or growth strategy; the emergence of new or growing competitors; potential effects on our results of operations from interruptions in, or breaches of, our information technology systems and various other competitive and technological factors; and other risks and uncertainties indicated from time to time in our periodic filings with the Securities and Exchange Commission.

Our actual results could differ materially from the results referred to in forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the risks discussed in Part I, Item 1A. "Risk Factors," Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations, and other parts of our Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 16, 2020, or as updated and amended by our other periodic filings with the Securities and Exchange Commission. In light of these risks and uncertainties, there can be no assurance that the results referred to in the forward-looking statements will occur, and you should not place undue reliance on these forward-looking statements. We undertake no obligation to update or review any guidance or other forward-looking statements, whether as a result of new information, future developments or otherwise, other than as required under the Federal securities laws.

Company Contact

Suzanne Srsich
Innodata Inc.
[email protected]
(201) 371-8033

SOURCE: Innodata Inc.


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