Cerner Corporation recently made an investment in Elligo Health Research that will enable the former to ink a commercial agreement to extend the data and tools available in the Cerner Learning Health Network. This, in turn, will provide additional clinical trial resources to community and rural hospitals and physician practices. However, the financial terms of the deal have been kept under wraps.
Notably, Elligo Health is a leading integrated research organization that utilizes electronic health records, and trustworthy patient and physician relationship to ensure access to clinical research as a care option for all patients.
This collaboration is likely to further strengthen Cerner’s presence in the healthcare information technology (HCIT) space.
Benefits of the Collaboration
It is important to mention here that health systems go through severe hurdles like patient recruitment, costs and access to clinical trials and resources.
The partnership is likely to expedite clinical research timeframes and make them more widely and easily accessible, while lowering costs related to introducing a therapy to market.
In fact, this deal will help reduce obstacles faced by health systems, thereby making clinical trials more of a reality regardless of the size, location or academic standing.
Market Prospects
Per a report by Allied Market Research, the global HCIT market is expected to reach $297 billion at a CAGR of 13.2% during the 2016-2022 period. Rise in demand for quality healthcare services and solutions, and patient safety and care, proactive supportive government initiatives, and increase in acceptance of mHealth and telehealth practices are the primary factors driving the market. Further, growing adoption of smartphones and patient-doctor convenience are contributing to the market’s growth.
Recent Development
In September, Cerner announced a collaboration with Vynca — a national leader in advance care planning solutions — to streamline the complicated advance care planning procedure for individuals and families, caregivers and clinicians in a bid to ensure patients’ end-of-life preferences and needs are met every single time. The partnership will allow Cerner and Vynca to break down the digital barrier between legal documents and electronic health records (EHRs), thereby making it simpler for clinicians to carry out the process.
Price Performance
Shares of this Zacks Rank #3 (Hold) stock have gained 4.1% in a year’s time compared with the industry’s rally of 30.5%.
Stocks to Consider
Some better-ranked stocks from the broader medical space are Merit Medical Systems, Inc. (MMSI - Free Report) , Align Technology, Inc. (ALGN - Free Report) and Thermo Fisher Scientific Inc. (TMO - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Merit Medical has a projected long-term earnings growth rate of 12.6%.
Align Technology has an estimated long-term earnings growth rate of 18.3%.
Thermo Fisher has a projected long-term earnings growth rate of 18%.
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Cerner Corporation recently made an investment in Elligo Health Research that will enable the former to ink a commercial agreement to extend the data and tools available in the Cerner Learning Health Network. This, in turn, will provide additional clinical trial resources to community and rural hospitals and physician practices. However, the financial terms of the deal have been kept under wraps.
Notably, Elligo Health is a leading integrated research organization that utilizes electronic health records, and trustworthy patient and physician relationship to ensure access to clinical research as a care option for all patients.
This collaboration is likely to further strengthen Cerner’s presence in the healthcare information technology (HCIT) space.
Benefits of the Collaboration
It is important to mention here that health systems go through severe hurdles like patient recruitment, costs and access to clinical trials and resources.
The partnership is likely to expedite clinical research timeframes and make them more widely and easily accessible, while lowering costs related to introducing a therapy to market.
In fact, this deal will help reduce obstacles faced by health systems, thereby making clinical trials more of a reality regardless of the size, location or academic standing.
Market Prospects
Per a report by Allied Market Research, the global HCIT market is expected to reach $297 billion at a CAGR of 13.2% during the 2016-2022 period. Rise in demand for quality healthcare services and solutions, and patient safety and care, proactive supportive government initiatives, and increase in acceptance of mHealth and telehealth practices are the primary factors driving the market. Further, growing adoption of smartphones and patient-doctor convenience are contributing to the market’s growth.
Recent Development
In September, Cerner announced a collaboration with Vynca — a national leader in advance care planning solutions — to streamline the complicated advance care planning procedure for individuals and families, caregivers and clinicians in a bid to ensure patients’ end-of-life preferences and needs are met every single time. The partnership will allow Cerner and Vynca to break down the digital barrier between legal documents and electronic health records (EHRs), thereby making it simpler for clinicians to carry out the process.
Price Performance
Shares of this Zacks Rank #3 (Hold) stock have gained 4.1% in a year’s time compared with the industry’s rally of 30.5%.
Stocks to Consider
Some better-ranked stocks from the broader medical space are Merit Medical Systems, Inc. (MMSI - Free Report) , Align Technology, Inc. (ALGN - Free Report) and Thermo Fisher Scientific Inc. (TMO - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Merit Medical has a projected long-term earnings growth rate of 12.6%.
Align Technology has an estimated long-term earnings growth rate of 18.3%.
Thermo Fisher has a projected long-term earnings growth rate of 18%.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.4% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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