Allscripts' (MDRX) Veradigm Collaborates With Komodo Health

Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) recently announced that its flagship Veradigm unit has entered into a long-term partnership with Komodo Health with a view to advance healthcare research. The collaboration is expected to help Veradigm investigate ways to reduce disease burden using an EHR (electronic health record) system. Notably, this fortifies Allscripts’ foothold in the global healthcare IT space.

For investors’ notice, San Francisco-based Komodo Health is a provider of live-saving therapies by improving standard of care, delivering care management and providing extensive research in patient data.

More on Veradigm

Introduced in 2018, Allscripts’ Veradigm integrated data systems and services business combines data-driven clinical insights with actionable tools for clinical workflow, research, analytics and media.

Allscripts’ recent acquisition of the American College of Cardiology's cardiology and diabetes registry assets, which are expected to extend Veradigm's EHR-enabled ambulatory research network, is encouraging. Also, Veradigm has signed an agreement with WOMBA, which will utilize Veradigm’s eChart Courier to provide medical chart records for healthcare providers.

Allscripts now expects 2019 bookings within $1.5-$1.1 billion, reflecting strength in the Veradigm business.

Allscripts Strong on Developments

Allscripts has been witnessing a slew of developments in its EHR platform of late.

Earlier this month, Allscripts’ 2bPrecise partnered with Q-State Biosciences to combine 2bPrecise’s cloud-based platform with Q-State’s whole-genome and whole-exome sequencing capabilities. The collaboration is expected to benefit patients and care organizations through improved patient outcomes.

Last month, Allscripts announced its FollowMyHealth as a platform for existing Microsoft (NASDAQ:MSFT) HealthVault users to export their existing data and continue tracking their health online or through mobile apps on iOS and Android.

Price Performance

We believe the positive developments will boost the Zacks Rank #3 (Hold) stock, which has declined 35.8% compared with the industry’s 8.1% fall. The current level also compares unfavorably with the S&P 500 index’s 0.2% rally.

Key Picks

A few better-ranked stocks in the broader medical space are DENTSPLY SIRONA (NASDAQ:XRAY) , Intuitive Surgical (NASDAQ:ISRG) and Baxter International (NYSE:BAX) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

DENTSPLY’s long-term earnings growth rate is expected to be 11.5%.

Intuitive Surgical’s long-term earnings growth rate is estimated at 13.3%.

Baxter’s long-term earnings growth rate is projected at 12.8%.

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