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Accenture (ACN) Invests in ixlayer to Boost Virtual Healthcare

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Accenture plc (ACN - Free Report) has made a strategic investment in telehealth platform provider ixlayer through Accenture Ventures, its venture arm. Financial terms have been kept under wraps.

Founded in 2018, ixlayer is an expert in technology-based solutions for diagnostic testing and has launched hundreds of testing programs for organizations, health systems and the government.

Project Spotlight’s Another Client-Focused Move

ixlayer is a part of Accenture Ventures’ Project Spotlight, an engagement and investment program aimed at providing emerging technology software startups access to Accenture’s technological and domain expertise across its G2000 client base.

Through the strategic investment, Accenture aims at utilizing ixlayer’s innovative solutions to respond to the substantially growing demand for virtual healthcare facilities amid the pandemic.

Tom Lounibos, managing director of Accenture Ventures, said, "ixlayer is leading the charge toward connecting the varied, complex components of the healthcare system under one umbrella to provide simplified, end-to-end services. We’re excited to collaborate with them on this enormous opportunity."

Accenture’s shares have gained 38.3% over the past year, outperforming the 30.4% growth of the Zacks S&P 500 composite while underperforming the 44.5% growth of the industry it belongs to.

Zacks Rank and Other Stocks to Consider

Accenture currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

Some other similarly ranked stocks in the broader Zacks Business Services sector are ManpowerGroup Inc. (MAN - Free Report) , Cross Country Healthcare (CCRN - Free Report)  and TransUnion (TRU - Free Report) , each carrying a Zacks Rank #2 as well.

The long-term expected earnings per share (three to five years) growth rate for ManpowerGroup, Cross Country and TransUnion is pegged at 23.1%, 9.9% and 22%, respectively.