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Veradigm (MDRX) Advances Tie-Up to Enhance Care Delivery
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Veradigm Inc. (MDRX - Free Report) and Holmusk, in a recent press release, jointly announced the next stage in its strategic collaboration. Veradigm is also making an additional financial investment in Holmusk, building on a collaboration launched early this year when Veradigm became the lead investor in Holmusk’s Series B financing round.
Holmusk is a renowned global behavioral health real-world evidence company.
The latest progress in Veradigm’s partnership is expected to significantly expand the database and enable deeper analysis and insights to augment care delivery and improve behavioral health outcomes.
Rationale Behind the Progress
The collaboration leverages the strengths of each company to drive innovation in behavioral health and create the evidence required to make advancements in the field. In this new phase of the tie-up, cohorts of millions of behavioral health patients and related de-identified clinical data from Veradigm are expected to be added to Holmusk’s NeuroBlu Database.
Per Veradigm’s management, Holmusk’s expertise in preparing clinical real-world data for analysis will likely be crucial in unlocking new insights from its existing resources. Management also believes that this will likely enable the creation of important evidence to improve behavioral health outcomes worldwide.
Holmusk’s management believes this collaboration to be a crucial step as it works to eliminate the gaps in evidence, information and learning that have hindered the progress of the behavioral health industry to an outcome-based reimbursement system and a learning healthcare system.
Industry Prospects
Per a report by Market.Us published on GlobeNewswire, the global behavioral health market demonstrated a total valuation of $140.1 billion in 2022 and is projected to exceed $227.5 billion by 2032 at a CAGR of 5.1%. Factors like the rising prevalence of mental health disorders and clinical and technological advancements are likely to drive the market.
Given the market potential, the latest announcement of the new phase of the investment will likely provide a significant impetus to Veradigm’s business.
Notable Developments
Last month, Veradigm announced a strategic collaboration with On Belay Health Solutions. The tie-up aims to support primary care providers in improving patients’ health outcomes while strengthening their practices’ financial foundation.
In July, Veradigm signed two multi-year healthcare provider agreements during the second quarter of 2023. It expanded its agreement with the State of Franklin Healthcare Associates, whereas Total Orthopedics and Sports Medicine contracted for Veradigm Revenue Cycle Services, Veradigm Payerpath, Veradigm Guided Scheduling and Veradigm FollowMyHealth to enhance their patient experience and billing process.
Price Performance
Shares of Veradigm have lost 14.6% in the past year against the industry’s 2.1% rise and the S&P 500’s 12.2% growth.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Currently, Veradigm carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) , McKesson Corporation (MCK - Free Report) and Integer Holdings Corporation (ITGR - Free Report) .
DaVita, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 12.7%. DVA’s earnings surpassed estimates in three of the trailing four quarters and missed once, with an average surprise of 21.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DaVita has gained 3.3% against the industry’s 7.7% decline over the past year.
McKesson, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 10.7%. MCK’s earnings surpassed estimates in three of the trailing four quarters and missed once, with an average of 8.1%.
McKesson has gained 23.4% compared with the industry’s 14.2% rise over the past year.
Integer Holdings, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 12.1%. ITGR’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 8.4%.
Integer Holdings has gained 15.8% against with the industry’s 4% decline over the past year.
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Veradigm (MDRX) Advances Tie-Up to Enhance Care Delivery
Veradigm Inc. (MDRX - Free Report) and Holmusk, in a recent press release, jointly announced the next stage in its strategic collaboration. Veradigm is also making an additional financial investment in Holmusk, building on a collaboration launched early this year when Veradigm became the lead investor in Holmusk’s Series B financing round.
Holmusk is a renowned global behavioral health real-world evidence company.
The latest progress in Veradigm’s partnership is expected to significantly expand the database and enable deeper analysis and insights to augment care delivery and improve behavioral health outcomes.
Rationale Behind the Progress
The collaboration leverages the strengths of each company to drive innovation in behavioral health and create the evidence required to make advancements in the field. In this new phase of the tie-up, cohorts of millions of behavioral health patients and related de-identified clinical data from Veradigm are expected to be added to Holmusk’s NeuroBlu Database.
Per Veradigm’s management, Holmusk’s expertise in preparing clinical real-world data for analysis will likely be crucial in unlocking new insights from its existing resources. Management also believes that this will likely enable the creation of important evidence to improve behavioral health outcomes worldwide.
Holmusk’s management believes this collaboration to be a crucial step as it works to eliminate the gaps in evidence, information and learning that have hindered the progress of the behavioral health industry to an outcome-based reimbursement system and a learning healthcare system.
Industry Prospects
Per a report by Market.Us published on GlobeNewswire, the global behavioral health market demonstrated a total valuation of $140.1 billion in 2022 and is projected to exceed $227.5 billion by 2032 at a CAGR of 5.1%. Factors like the rising prevalence of mental health disorders and clinical and technological advancements are likely to drive the market.
Given the market potential, the latest announcement of the new phase of the investment will likely provide a significant impetus to Veradigm’s business.
Notable Developments
Last month, Veradigm announced a strategic collaboration with On Belay Health Solutions. The tie-up aims to support primary care providers in improving patients’ health outcomes while strengthening their practices’ financial foundation.
In July, Veradigm signed two multi-year healthcare provider agreements during the second quarter of 2023. It expanded its agreement with the State of Franklin Healthcare Associates, whereas Total Orthopedics and Sports Medicine contracted for Veradigm Revenue Cycle Services, Veradigm Payerpath, Veradigm Guided Scheduling and Veradigm FollowMyHealth to enhance their patient experience and billing process.
Price Performance
Shares of Veradigm have lost 14.6% in the past year against the industry’s 2.1% rise and the S&P 500’s 12.2% growth.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Currently, Veradigm carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) , McKesson Corporation (MCK - Free Report) and Integer Holdings Corporation (ITGR - Free Report) .
DaVita, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 12.7%. DVA’s earnings surpassed estimates in three of the trailing four quarters and missed once, with an average surprise of 21.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DaVita has gained 3.3% against the industry’s 7.7% decline over the past year.
McKesson, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 10.7%. MCK’s earnings surpassed estimates in three of the trailing four quarters and missed once, with an average of 8.1%.
McKesson has gained 23.4% compared with the industry’s 14.2% rise over the past year.
Integer Holdings, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 12.1%. ITGR’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 8.4%.
Integer Holdings has gained 15.8% against with the industry’s 4% decline over the past year.