HCA Healthcare Acquires Valify To Rein In Medical Costs
Zacks Investment Research | Jan 12, 2020 09:51PM ET
HCA Healthcare, Inc. (NYSE:HCA) has acquired Valify, a technology entity that emphasizes on reducing overall healthcare expenditure for clients. However, terms of the deal were not disclosed.
Rationale Behind the Acquisition
The Frisco, TX-based acquired company is a web-based technology platform that offers healthcare systems with in-depth research and greater understanding across a wide range of services.
HCA Healthcare expects to gain traction from Valify’s advanced analytics, technology and advisory services, which in turn, would help it manage resources in ancillary areas.
This strategic move is in line with the company’s aim to provide patient-centric care. With the growing usage of benchmarking, analytics and technology, the medical care sector too noticeably follows suit to benefit from such solutions.
Rise of Technology in the Healthcare Sector
The industry remains a promising platform for investment owing to surging demand for better health outcomes at affordable rates through usage of analytics, AI and other advanced technologies. Industry players are taking up initiatives to avail of technology for cost-cutting, providing advanced healthcare, etc.
Price Performance
Shares of this Zacks Rank #3 (Hold) have gained 14.7% in a year’s time, underperforming its Original post
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