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Verizon (VZ) Extends Healthcare Partnership With Visionable

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Verizon Communications Inc. (VZ - Free Report) and Visionable have extended their collaboration to accelerate the evolution of healthcare using Verizon’s private 5G and AI-driven secure networking. Per the terms of the agreement, the firms will work in unison on a range of connected healthcare solutions, leveraging Visionable’s patented technology and Verizon’s 5G Ultra Wideband and 5G Edge network.

Headquartered in London, Visionable offers affordable, high-quality, timely healthcare facilities through patented, real-time & multi-streaming technology and a proprietary clinical collaboration platform. It recently unveiled a technology-led center in the United Kingdom that showcases the benefits of next-generation connectivity and aids healthcare professionals in delivering urgent and emergency care to virtual wards to in-person care and rehabilitation centers across the globe.

The collaboration intends to connect frontline responders to specialist doctors during critical emergencies and enable access to superior healthcare facilities. The partnership will primarily focus on the opportunities generated within the APAC and EMEA regions. The technologies being used will have the capability to empower professionals, share essential healthcare data and improve the quality of care they provide within a safe, secure and compliant environment. As the future of healthcare moves from face-to-face care to digital care, there will be a need for a secure, next-generation platform with swift and reliable connectivity.

This is where Verizon’s 5G network connectivity will come into the picture and enable a seamless transition to digital care. 5G will act as a breakthrough, which will transform every aspect of the fully networked economy. This network will enable a higher speed of data transferring, reduce lag time and help swiftly connect multiple devices simultaneously.

With one of the most efficient wireless networks in the United States, Verizon deploys the latest 4G LTE Advanced technologies to deliver faster peak data speeds and capacity for customers, driven by customer-focused planning, disciplined engineering and constant strategic investment. The company remains focused on making necessary capital expenditures due to the expansion of 5G mmWave in new and existing markets, the densification of the 4G LTE wireless network to cater to huge traffic demands across multiple verticals and the continued deployment of the fiber infrastructure.

Verizon’s 5G mobility service offers an unparalleled experience that impacts industries as diverse as public safety, health care, retail and sports. The company’s 5G network hinges on three fundamental drivers to deliver the full potential of next-generation wireless technology. These are massive spectrum holdings, particularly in the millimeter-wave bands for faster data transfer, end-to-end deep fiber resources and the ability to deploy a large number of small cells. In order to expand coverage and improve connectivity, Verizon has acquired 161MHz of mid-band spectrum in the C-Band auction for a total consideration of $45.5 billion. These airwaves offer significant bandwidth with better propagation characteristics for optimum coverage in both rural and urban areas.

The stock has lost 27.5% over the past year compared with the industry’s decline of 23.5%. Nevertheless, we remain impressed with the inherent growth potential of this Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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