September 30, 2013
V-Rooms™ announced that they are compliant with the new Health Insurance Portability and Accountability Act (HIPAA) rules that went into effect on September 23, 2013 as a result of the American Recovery and Reinvestment Act (ARRA). HIPAA compliance is particularly necessary for V-Rooms’™ life science, biotech and pharmaceutical clients who use their virtual data rooms to conduct clinical trials and raise capital for new medical breakthroughs. V-Rooms’™ corporate clients who utilize the security, confidentiality, and accessibility of a virtual data room to host human resource, insurance, and accounting data also benefit from this compliance.
In addition to strengthening enforcement of the pre-existing rules, the ARRA changes to HIPAA include extending coverage regulations to business associate and covered entities; establishing limits on the use, disclosure, and sale of Protected Health Information (PHI); and expanding the individual’s rights to obtain additional restrictions on their PHI disclosures to health plans.
“With a V-Room™ , you can upload documents into a centralized document repository with online banking level security. You can then invite potential investors, researchers, partners and other team members, who may be located around the globe, to log in and have access to the specific files you grant to that individual or group.” said Catherine Smith, Marketing Director of V-Rooms™ . “A virtual data room can increase operational efficiencies, pool data across phases, allow staff to oversee and manage study trial data through a single role-based user interface, as well as respond to regulatory authority questions quickly and confidently.”
V-Rooms™ has specialized solutions for the secure distribution and collaboration of the documents related to capital raises, clinical trial research, and the daily operation of a multinational corporation.
In addition to HIPAA, V-Rooms™ is also compliant with all investor verification requirements relating to the JOBS Act, Regulation D, Blue Sky Laws, the UK’s Safe Harbor laws, and SEC Rule 17g-5.
V-Rooms™ provides a cloud-based, customizable virtual data room (VDR) solution that is designed to streamline document management, collaboration, exchange and archiving for financial, legal and corporate professionals. The V-Rooms™ Sofware-As-A-Service (SAAS) secure document portal facilitates the secure exchange of sensitive information providing compliant and auditable transactions. V-Rooms™ enables the acceleration of complex, information-intensive processes while reducing the time and expenses associated with data distribution, courier, printing and travel. Additional information can be found at http://www.V-Rooms.com.