Omnicell (OMCL) Partners With Kit Check To Offer Bluesight

Omnicell, Inc. (NASDAQ:OMCL) recently signed an agreement with Kit Check to offer Bluesight for Controlled Substances. This diversion prevention software will help customers attain better visibility of controlled substances across the pharmacy supply chain.

Kit Check is an industry-leading provider of automated medication management solutions for hospital pharmacies.

This partnership will offer Omnicell the state-of-the art technology and medication intelligence needed to facilitate accurate delivery of drugs to the right patients.

More on Bluesight for Controlled Substances

Bluesight for Controlled Substances strengthens charting and dispensing, thereby outlining risks, documented through easy-to-navigate dashboards. All analytics and dashboards are updated in real-time with every data transfer, enabling swift identification of outliers.

Through this deal, Omnicell’s customers will gain access to a single sign-on dashboard that integrates information from automated dispensing cabinets and the EMR. This partnership provides support to autonomous pharmacy and an error-free automated medication management infrastructure. This latest technological offering, combined with expert automation services, is equipped to aid pharmacists, nurses, and all clinical staff in delivering better patient outcomes.

Recent Developments

Lately, Omnicell has been collaborating with a few firms to boost its automated medication management services.

In December 2019, Omnicell inked a strategic partnership with Huron, a global professional services firm, to offer outcome-based professional services to Omnicell customers.

In October, Omnicell entered into a sole source agreement with Med Center Health, per the terms of which the latter can update and secure its medication management process. The health system will upgrade to Omnicell XT Automated Dispensing Cabinets, thereby improving security and nurse-pharmacy workflows.

Price Performance

In the past year, the stock has rallied 14.4%, higher than the broader industry’s growth of 11.3%.

Zacks Rank & Other Stocks Worth a Look

Omnicell currently carries a Zacks Rank #2 (Buy).

A few other top-ranked stocks from the broader medical space are Haemonetics Corporation (NYSE:HAE) , NuVasive, Inc (NASDAQ:NUVA) and ResMed (NYSE:RMD) . While ResMed carries a Zacks Rank #1 (Strong Buy), the other two carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Haemonetics has a projected long-term earnings growth rate of 13.5%.

NuVasive has an expected long-term earnings growth rate of 10.9%.

ResMed has a long-term earnings growth rate of 12.9%.

Today's Best Stocks from Zacks

Would you like to see the updated picks from our best market-beating strategies? From 2017 through Q3 2019, while the S&P 500 gained +39.6%, five of our strategies returned +51.8%, +57.5%, +96.9%, +119.0%, and even +158.9%.

This outperformance has not just been a recent phenomenon. From 2000 – Q3 2019, while the S&P averaged +5.6% per year, our top strategies averaged up to +54.1% per year.

See their latest picks free >>