The Internet of Medical Things (IoMT) has the potential to enhance the storage, sharing and remote access of medical images and the introduction of IoMT into the cloud-based medical imaging archive raises many privacy and security concerns. This research introduces a novel approach to protect medical images across their entire lifecycle, known as Medical IoT, that ensures privacy protection of medical images. The proposed approach combines patient identity protection, separation of metadata, medical-image encryption, secure key management, integrity checking, authenticated medical-image transmission, controlled cloud storage, and authorized reconstruction of medical images. The architecture enables the secure communication between, but not limited to, medical imaging devices, IoMT gateways, cloud archives and healthcare providers. It is tested with the help of CT, MRI, X-ray and ultrasound images based on computational and security metrics such as encryption and decryption time, utilization of resources, entropy, pixel correlation, NPCR, UACI, key sensitivity, and the quality of reconstruction. The proposed method not only ensures privacy and security of medical images but also enhances computational efficiency, offering a scalable solution for handling medical images securely in resource-limited, cloud-based healthcare settings.