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Alere Inc. (ALR - Snapshot Report) revealed that it has developed a first of its kind collaborative framework in Leeds, U.K. to establish a Health Information Exchange in the city to support the single electronic health record (EHR) to be used by National Health Service (NHS).

The collaboration agreement involves Leeds and Partners – an organization responsible for drawing investment to Leeds, as well as local health and social services providers including general practitioners and hospitals in Leeds. The collaborative framework aims to enhance the existing information technology assets in Leeds with the use of Alere's healthcare platform.

Under the framework, patient data will be securely held by the NHS but not to be shared by the health and social care partners in Leeds. The partners will demonstrate the way to transform the health system with the help of advanced technologies.

ALR will establish a site in Leeds to support this project. The company would also need other professionals for the project, mainly in clinical and technology positions in local clinics and hospitals. If the project succeeds, hundreds of new jobs will be created in Leeds in the next two years with the adoption of the new system.

Alere reported a 40.5% rise in second quarter 2013 adjusted earnings per share to 59 cents from 42 cents in the same quarter of 2012. With this, earnings beat the Zacks Consensus Estimate by a significant margin of 19 cents.

Net revenues went up 9.1% to $764.0 million in the second quarter of 2013, exceeding the Zacks Consensus Estimate of $722 million. Adjusted net revenues rose 9.0% to $764.6 million in the quarter from $701.6 million for the second quarter of 2012

Currently, Alere carries a Zacks Rank #1 (Strong Buy). Other medical products stocks such as Advaxis Inc. (ADXS), diaDexus, Inc. (DDXS) and Boston Scientific Corp. (BSX - Analyst Report) are also worth a look presently. All of them carries a Zacks Rank #2 (Buy).

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