Merge Unveils Cloud-based Platform - Analyst Blog
29 11월 2011 - 7:30PM
Zacks
Recently, Merge
Healthcare (MRGE) showcased its new cloud-based platform
‘Merge Honeycomb’ along with its first application in the cloud,
namely ‘free image sharing’ at the Radiological Society of North
America (RSNA). This application enables users to upload, download,
view and share medical images everywhere without the help of any
additional software. Through this new solution the company intends
to improve image interoperability and achieve the ‘Meaningful Use’
stamp from the federal government.
Earlier this month, Merge selected
Dell, Inc (DELL) as its preferred cloud computing
services provider. The company expects to launch “Merge Honeycomb”
in the first quarter of 2012, which led to a 17.5% increase in the
stock price to $5.18 on Monday. Presently, Merge boasts the largest
image sharing network opportunity with 6,000 clinics across the
US,
This apart, Merge also displayed
its Enterprise-Wide Image Interoperability with iConnect at the
RSNA and demonstrated Merge RIS v7.0. Earlier, in October this
year, Merge got the complete EHR Ambulatory certification for its
RIS v7.0, which enables healthcare providers to efficiently record
patient details. Merge also showcased Anywhere, Anytime Image
Access with Merge PACS. Furthermore, the company hosted Hands-On
CADstream Workshops for MRI Studies.
As per estimates, the US health IT
(HIT) market, valued at $7.6 billion in 2010, is expected to grow
to $9.6 billion by 2014. The US HIT market is gradually adopting
EHRs to meet the funding requirements under the Health Information
Technology for Economic and Clinical Health (HITECH) Act. It aims
to expand the use of EHR by medical practitioners, in both
ambulatory and hospital-based settings. As a result, selected
companies in this space are witnessing heightened investor
interest. Favorable demographic trends, reinforced by a supportive
regulatory environment, are expected to sustain strong growth in
demand for EHR-related software in the foreseeable future.
We believe this will benefit Merge
in the long run. Merge is presently well placed to garner a
meaningful share in the multi-billion dollar HIT investment
opportunity.However, in recent years, medicare reimbursement for
advanced medical imaging has declined significantly.
Further, the Centers for Medicare
and Medicaid Services (CMS) implemented additional reimbursement
changes using the Physician Payment Information Survey (PPIS) data,
resulting in further reimbursements cuts in the range of 30%-40%
for advanced modalities by 2013. This could negatively affect
hospital and imaging clinic revenue, which in turn could reduce
demand for imaging-related software and services offered by
Merge.
Furthermore, the presence of many
big players like General Electronics (GE) and
McKesson Corporation (MCK) has made the diagnostic
imaging market highly competitive.
Presently, Merge retains a
short-term Zacks #3 Rank (Hold) which also corresponds to our
long-term ‘Neutral’ recommendation on the stock.
DELL INC (DELL): Free Stock Analysis Report
GENL ELECTRIC (GE): Free Stock Analysis Report
MCKESSON CORP (MCK): Free Stock Analysis Report
MERGE HEALTHCAR (MRGE): Free Stock Analysis Report
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