Following the acquisitions of leading digital forensics providers Digital WYZDOM Inc. and Digital WYZDOM Forensics Inc. last month, Telus Corporation (TU - Analyst Report) closed yet another major acquisition of PS Suite EMR – the EMR (electronic medical record) business of MD Practice Software LP. No financial disclosure has been made but the company stated that the acquisition positions Telus as the largest provider of EMR services in Canada.
Through the PS Suite, the company aims to expand it EMR services to reach approximately 25 million patients through interactions with 9,000 Canadian physicians in its home turf.
The company has been focusing on capturing the majority share in the health care market. Its collaborative effort with various hospitals, pharmacies, physiotherapists, and alternative medical practitioners like chiropractors have resulted in significant business generation for the company.
With the inception of Telus Health 10 years ago, Telus remains successful in state-of-the-art technology and innovation that address the current market needs in health care. The company has invested over $1 billion in the last five years in acquisitions of EMR providers like Wolf Medical Systems in Feb 2012, and Quebec based company KinLogix in Oct 2012.
Besides penetrating into the health care market, Telus continues to benefit from accelerating wireless data services and growing wireline fiber optic networks. Telus is leading the Canadian industry in the deployment of the three fastest wireless networks — high-speed packet access plus (HSPA+), HSPA+ Dual and Long-Term Evolution (LTE). Further, the company is expanding Internet data centers to support its cloud computing services.
Telus Corporation – which operates within the Canadian telecom industry along with Rogers Communications Inc. (RCI - Analyst Report) and BCE Inc. (BCE - Analyst Report) – currently carries a Zacks Rank #3 (Hold).
Deutsche Telekom AG (DTEGY - Snapshot Report) , with a Zacks Rank #1 (Strong Buy), is another stock in this sector that is worth considering.