Harris Corp. (HRS - Free Report) , one of the leading companies in the public safety and professional communication market, has installed its Service Oriented Architecture (SOA) Suite solution. Deployment of SOA will facilitate the U.S. Department of Veterans Affairs (VA) and the Department of Defense (DoD) to easily access health related information in a secure manner.
The SOA service belongs to a multi-year, $80 million healthcare integration deal achieved by Harris in Mar 2012. The deal will allow easy sharing of health information between VA and DoD in a timely and accurate manner.
Harris will deliver a complete range of interoperability solutions which includes IT infrastructure and management, clinical workflow and analytics, health information exchange, and imaging. Availability of such services will not only enhance health-care quality, safety and efficiency but will also reduce cost and increase income.
Recently, Harris reported fourth-quarter 2013 financial results where the bottom line met the Zacks Consensus Estimate and the top line surpassed the same. During the quarter, the Integrated Network Solution segment (Healthcare solutions is part of this segment) generated revenues of $402.1 million, up 6.1% year over year. Thus, we believe that such contracts will help the company consolidate its position in the Healthcare service delivery industry.
Harris currently carries a Zacks Rank #2 (Buy).
Other Stocks to Consider
The stocks that are performing better in the defense sector and public safety are Ubiquiti Networks, Inc. (UBNT - Free Report) , Polycom, Inc. and Qualcomm Inc. (QCOM - Free Report) . Both Polycom and Qualcomm have Zacks Rank #2 (Buy) while Ubiquiti Networks carries a Zacks Rank #1 (Strong Buy).