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Allscripts, Elligo Health Enter in Strategic Partnership

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Renowned information technology and service provider to healthcare organizations, Allscripts Healthcare Solutions, Inc. (MDRX - Free Report) , announced that it has entered into a strategic partnership with Elligo Health Research.

Per the agreement, the companies would focus on assisting clinicians to conduct clinical trial studies in their own clinics. Through the aforementioned partnership, clinical trials managed by Clinical Research Organizations (CROs) will be helped by bringing new treatments to patients across major therapeutic areas.

The combined offering enables physicians to directly participate as study investigators in selected CRO clinical trials, which will provide patients with the benefit of more direct comprehensive care.  Additionally, physicians will be able to generate research revenue and cover investigator fees associated with trial procedures. The Allscripts’ proprietary eParticipate service will be available to all the CROs – Allscripts Professional EHR, Allscripts TouchWorks EHR and Allscripts Sunrise.

CROs market is becoming more and more lucrative. Per a company estimate, they continue to increase investments to support bringing new clinical therapies to market, with more than $17 billion in payments to study investigators. eParticipate expands the reach of clinical trials investments by enabling Allscripts’ research-capable sites to become study investigators through Elligo Health’s infrastructure and services. Allscripts physicians will have access to clinical trials across several therapeutic areas, including Gastroenterology, Neurology, Pain, Urology, Pulmonology, Oncology and Women’s Health, some of the key areas of focus for CROs.

Over the past one month, Allscripts has outperformed the broader industry. The stock has gained 7.3%, compared with the 2.4% loss of the industry it belongs to.

Allscripts is a leading provider of healthcare information technology solutions. Looking forward, management is focused on various restructuring initiatives such as streamlining operational efficiency, increasing R&D and catering to client needs. We believe favorable demographic trends, reinforced by a supportive regulatory environment, are expected to sustain growth in demand for its services.

Higher client demand for the company’s population health management solutions by healthcare systems, hospitals and ambulatory markets should also drive growth over the long haul.

Zacks Rank & Key Picks

Allscripts Healthcare currently carries a Zacks Rank #3 (Hold). A few better-ranked medical stocks are Edwards Lifesciences Corp. (EW - Free Report) , Lantheus Holdings, Inc. (LNTH - Free Report) and Align Technology, Inc. (ALGN - Free Report) . Edwards Lifesciences and Align Technology sport a Zacks Rank #1 (Strong Buy), while Lantheus Holdings carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Edwards Lifesciences has a long-term expected earnings growth rate of 15.2%. The stock has gained around 3.2% over the last three months.

Align Technology has a long-term expected earnings growth rate of 26.6%. The stock has rallied roughly 29.6% over the last three months.

Lantheus Holdings has a long-term expected earnings growth rate of 12.5%. The stock has gained 66.1% over the last six months.

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