Teladoc Health, Inc. (TDOC - Free Report) recently announced its partnership with Cincinnati Children’s Hospital Medical Center (Cincinnati Children’s) to form the industry’s first consumer pediatric telehealth platform. Both companies will start developing the platform in the second quarter of 2019 with accessibility to other pediatric hospitals and medical centers set for early 2020.
Holding the second position on the U.S. News & World Report’s list of Best Children’s Hospitals, Cincinnati Children’s will help Teladoc improve its licensed platform for pediatric needs. With the evolution of consumer telehealth, this is the apt time for pediatric hospitals to win access to a platform that is solely designed to support their unique care needs and workflows.
Teladoc will be able to gain traction from Cincinnati Children’s proven, pediatric clinical care expertise. The platform will mainly consist of pediatric-specific workflows, clinical needs and user experience for patients and their families.
Notably, Cincinnati Children’s will in turn, be able to enhance its telehealth services for the pediatric patients via this unique platform.
Teladoc is constantly witnessing growth in its client roster owing to the addition of clients across multiple market segments. The company’s emphasis is on increasing its value-added clients through product innovation that will lead to customer retention. It also focuses on burgeoning its client base by penetrating the underserved segments, such as provider market and small and mid-sized employers. Moreover, Teladoc is investing heavily in the new marketing technologies, which poise it well for growth.
Shares of this Zacks Rank #4 (Sell) company have surged 34% in a year’s time, outperforming its industry’s rally of 9.9%.
Stocks to Consider
Investors interested in the same sector can take a look at some better-ranked stocks like BioTelemetry, Inc. (BEAT - Free Report) Charles River Laboratories International, Inc. (CRL - Free Report) and OpGen, Inc. (OPGN - Free Report) .
BioTelemetry provides remote cardiac monitoring, remote blood glucose monitoring, centralized core lab services for clinical trials and original equipment manufacturing services. In the last four quarters, the company delivered average positive surprise of 50.8%. It flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Charles River Laboratories provides drug discovery, non-clinical development and safety testing services worldwide. The company, which has a Zacks Rank #2 (Buy), came up with average earnings surprise of 9.6% in the trailing four quarters.
OpGen engages in developing molecular information products and services to combat infectious diseases in the United States and internationally. The company pulled off average beat of 1.9% in the preceding four quarters. The stock has a Zacks Rank of 2.
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