Cerner Corporation (CERN - Free Report) recently partnered with GetWellNetwork – a global consumer health technology company – to facilitate communication between providers and patients from inpatient to outpatient settings and home. The collaboration will complement the company’s digitized platforms created to accelerate the delivery of person-specific experiences and benefit to clients and consequently, bolster third-party innovation.
Patients are expected to benefit from this collaboration in terms of convenience and accessibility. The deal is likely to enhance patient care, consumer engagement, while facilitating accessibility to high-quality services, which is an increasingly important macro trend in health care.
Benefits of the Collaboration
The deal will bring together the expertise of both the companies in the development of interactive digital solutions, which will improve the patient experience through Cerner’s world-class platforms. This in turn will amplify the prospects of clients as it will aid them meet the specific needs of a present day highly connected health care consumer.
The collaboration is likely to enable Cerner enhance functionality for clients and patients through third-party solutions. The deal can help patients become more aware of their treatment plans, thereby making them more active in the decision-making process while lowering the associated costs for providers.
Cerner has been making strategic deals that will drive the company.
Per a report by Grand View Research, the global digital health market is anticipated to reach $509.2 billion by 2025 at a CAGR of 27.7%. Increasing adoption of mHealth technologies by clinicians to prescribe for self-management of chronic illness like diabetes, has fueled the market.
Zacks Rank and Price Performance
Currently, Cerner carries a Zacks Rank of 3 (Hold). Shares of the company have gained 6.5% in a year’s time, against the industry’s decline of 11.5%. Meanwhile, the S&P 500 Index has grown 1% in the same time frame.
Some better-ranked stocks from the broader medical space are Masimo Corporation (MASI - Free Report) , Amedisys, Inc. (AMED - Free Report) and CONMED Corporation (CNMD - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Masimo has a long-term earnings growth rate of 23.9%.
Amedisys has a long-term earnings growth rate of 16.3%.
CONMED has a long-term earnings growth rate 14.9%.
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