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Allscripts Strengthens Strategic Relationship with Pulse8

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Allscripts Healthcare Solutions Inc. (MDRX - Free Report) recently announced that it has strengthened its strategic relationship with Pulse8, a leading player in healthcare analytics and technology.

Earlier this month, Allscripts announced that Qatar-based Alfardan Group and Chicago-based Northwestern Medicine have selected it to provide ambulatory care services for the launch of a new project — ‘Alfardan Medical with Northwestern Medicine.’ Notably, this is likely to strengthen the company’s foothold in the Middle East (read more: Allscripts to Fortify Middle East Foothold With New Project).

Shares of this Zacks Rank #3 (Hold) company have lost 20.9% compared with the industry's 0.6% rally. The current level also compares unfavorably with the S&P 500 index's growth of 2.5% over the same time frame. However, the company is on a spree of positive developments and strategic deals, which might provide it with a solid ground to perform better in the days to come.

 

How Is Allscripts Likely to Benefit?

Pulse8 is likely to boost Allscripts’ flagship platform Veradigm, and its existing health plan product suite that delivers pocket-friendly tools and services for health plan members. Veradigm is also likely to leverage on Pulse8’s newly combined offering of clinical data exchange solutions, cutting-edge analytics and point-of-care engagement tools to maximize return on investment.

Per Pulse8 management, the latest development is likely to enhance existing solutions in new ways to improve healthcare quality, risk-score accuracy, and healthcare cost reduction.

Veradigm – a Key Growth Driver for Allscripts

Veradigm is a flagship platform of Allscripts. It provides the company with significant exposure in the payer and life science end markets. The platform offers integrated data systems and services for clinical workflow, research, analytics and media.

The Veradigm business witnessed a solid fourth quarter. In January, Veradigm signed a memorandum of understanding with Microsoft to develop an integrated research model, enabling clinical research on point-of-care technology platforms. This collaboration is expected to drive development of the platform to help biopharmaceutical and clinical research organizations better conduct integrated clinical research.

Veradigm has also signed a major 10-year agreement with Nextgen in the recent past. This agreement creates one of the largest EHR data networks in the world, with approximately 150 million unique patient records (approximately half of the U.S. population). This agreement positions Veradigm as a leader in analyzing health data and making that data actionable by directly integrating it with a clinicians' workflow.

Want More from the MedTech Industry?

A few better-ranked stocks from the MedTech space are ABIOMED, Inc. , IDEXX Laboratories, Inc. (IDXX - Free Report) and Wright Medical Group N.V. , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

ABIOMED’s long-term expected earnings growth rate is projected at 27.7%.

IDEXX Laboratories delivered a positive earnings surprise in each of the trailing four quarters, the average being 7.2%.

Wright Medical Group has long-term expected earnings growth rate of 11.3%.

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