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Hologic (HOLX) Updates Its Unifi Platform, Enhances Portfolio
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Hologic, Inc. (HOLX - Free Report) recently equipped its Unifi Analytics platform with innovative updates. The enhanced platform is available as Unifi Analytics 1.2. The platform, which was launched in 2019, is a breakthrough business intelligence tool, aiding mammography centers to gain insights into technologist performance, proactive device maintenance and business considerations.
Per management, these enhancements to the Unifi Analytics were made per research and customer feedback received by the company. Further, the enhancements will provide imaging centers with even more actionable insights to have a clear path to improve overall performance.
With the latest improvements to its Unifi platform, Hologic aims to strengthen its foothold in the global Mammography Solutions business. Notably, Mammography Solutions is a segment of its broader Breast Health arm.
Significance of the Launch
Unifi Analytics 1.2 enables users to better understand and improve daily mammography workflow by providing valuable insights regarding volume and time spent on screening, diagnostic, and biopsy studies. Per the company, the healthcare facilities will also be able to benchmark efficiency metrics against a comprehensive database of more than 2,500 Hologic gantries to identify improvement opportunities.
Additionally, the platform also includes new features focused on paddle utilization and compression force. These features can help users improve staff performance, leading to better image quality and patient satisfaction along with cost reduction.
Industry Prospects
Per a report by MarketsAndMarkets, the global breast imaging market is estimated to grow from $3.7 billion in 2020 to $5.4 billion by 2025 at a CAGR of 8.1%. Factors like technological advancements, rising prevalence of breast cancer and growing awareness of early detection of the same are expected to drive the market.
Given the market potential, the enhancements to its Unifi Analytics platform is expected to significantly boost Hologic’s Breast Health business.
Recent Developments in Breast Health
Of late, Hologic has been witnessing a few developments in this business arm.
The company announced the commercial launch of its 3DQuorum Imaging Technology, Powered by Genius AI, in Europe in October.
The same month, Hologic entered into a multi-year partnership with the Black Women’s Health Imperative (a non-profit organization created by black women) to work toward decreasing breast cancer screening disparities for black women.
In August, the company announced the addition of improved features to its Brevera Breast Biopsy System with CorLumina Imaging Technology. Also in August, Hologic entered into a definitive collaboration with RadNet, Inc. to advance the use of A.I. in breast health.
Price Performance
Shares of the company have gained 49.1% in the past year compared with the industry and S&P 500’s 19.3% and 15.3% growth, respectively.
Zacks Rank & Other Key Picks
Currently, Hologic sports a Zacks Rank #1 (Strong Buy).
A few other top-ranked stocks from the broader medical space are ResMed Inc. (RMD - Free Report) , Thermo Fisher Scientific Inc. (TMO - Free Report) and Align Technology, Inc. (ALGN - Free Report) .
Thermo Fisher’s long-term earnings growth rate is estimated at 18%. It currently carries a Zacks Rank #2 (Buy).
Align Technology’s long-term earnings growth rate is estimated at 18.3%. It currently carries a Zacks Rank #2.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
Image: Bigstock
Hologic (HOLX) Updates Its Unifi Platform, Enhances Portfolio
Hologic, Inc. (HOLX - Free Report) recently equipped its Unifi Analytics platform with innovative updates. The enhanced platform is available as Unifi Analytics 1.2. The platform, which was launched in 2019, is a breakthrough business intelligence tool, aiding mammography centers to gain insights into technologist performance, proactive device maintenance and business considerations.
Per management, these enhancements to the Unifi Analytics were made per research and customer feedback received by the company. Further, the enhancements will provide imaging centers with even more actionable insights to have a clear path to improve overall performance.
With the latest improvements to its Unifi platform, Hologic aims to strengthen its foothold in the global Mammography Solutions business. Notably, Mammography Solutions is a segment of its broader Breast Health arm.
Significance of the Launch
Unifi Analytics 1.2 enables users to better understand and improve daily mammography workflow by providing valuable insights regarding volume and time spent on screening, diagnostic, and biopsy studies. Per the company, the healthcare facilities will also be able to benchmark efficiency metrics against a comprehensive database of more than 2,500 Hologic gantries to identify improvement opportunities.
Additionally, the platform also includes new features focused on paddle utilization and compression force. These features can help users improve staff performance, leading to better image quality and patient satisfaction along with cost reduction.
Industry Prospects
Per a report by MarketsAndMarkets, the global breast imaging market is estimated to grow from $3.7 billion in 2020 to $5.4 billion by 2025 at a CAGR of 8.1%. Factors like technological advancements, rising prevalence of breast cancer and growing awareness of early detection of the same are expected to drive the market.
Given the market potential, the enhancements to its Unifi Analytics platform is expected to significantly boost Hologic’s Breast Health business.
Recent Developments in Breast Health
Of late, Hologic has been witnessing a few developments in this business arm.
The company announced the commercial launch of its 3DQuorum Imaging Technology, Powered by Genius AI, in Europe in October.
The same month, Hologic entered into a multi-year partnership with the Black Women’s Health Imperative (a non-profit organization created by black women) to work toward decreasing breast cancer screening disparities for black women.
In August, the company announced the addition of improved features to its Brevera Breast Biopsy System with CorLumina Imaging Technology. Also in August, Hologic entered into a definitive collaboration with RadNet, Inc. to advance the use of A.I. in breast health.
Price Performance
Shares of the company have gained 49.1% in the past year compared with the industry and S&P 500’s 19.3% and 15.3% growth, respectively.
Zacks Rank & Other Key Picks
Currently, Hologic sports a Zacks Rank #1 (Strong Buy).
A few other top-ranked stocks from the broader medical space are ResMed Inc. (RMD - Free Report) , Thermo Fisher Scientific Inc. (TMO - Free Report) and Align Technology, Inc. (ALGN - Free Report) .
ResMed’s long-term earnings growth rate is estimated at 14.5%. The company presently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Thermo Fisher’s long-term earnings growth rate is estimated at 18%. It currently carries a Zacks Rank #2 (Buy).
Align Technology’s long-term earnings growth rate is estimated at 18.3%. It currently carries a Zacks Rank #2.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>