Palm Beach, FL – January 20, 2022 – FinancialNewsMedia.com News Commentary – Cloud computing increases real-time data collection and improves accessibility to the data. It has outpaced the conventional paper healthcare system by providing more speed and efficiency in data handling. For instance, cloud computing technology is widely used in remote patient monitoring. Rising demand for stringent regulatory compliance, public awareness, and growing investment from healthcare players such as Cisco, IBM, GE Healthcare, and government organizations are expected to create a demand for this technique during the analysis period. The proliferation of high-speed internet and implementation of favorable regulatory acts are also expected to provide growth to the market. A report from Global Market Insights projected that the Healthcare Cloud Computing Market size was valued over USD 29 billion in 2020 and is expected to witness around 13.4% CAGR from 2021 to 2027. The report said: “Rising adoption of digital technologies among healthcare professionals is projected to drive the market growth. Escalating patient population suffering through various diseases leads to higher demand for efficient data management tools. Healthcare cloud computing offers easy access to patient information through secured networks, thus eliminating the data privacy concerns. Therefore, increasing acceptance of these technologies encourages safer data sharing and remote collaborations enabling broader treatment accessibility. Similarly, shift of healthcare industry toward information-centric model enables efficient information sharing and streamlined collaborative workflows. Benefits such as IoT support, data automation and storage that streamline treatment process creates tremendous growth opportunities for cloud computing solutions in healthcare market.” Active Companies in the markets today include Healthcare Triangle Inc. (NASDAQ: HCTI), Phreesia, Inc (NYSE: PHR), INOVIO (NASDAQ: INO), Tabula Rasa HealthCare, Inc.® (NASDAQ: TRHC), Health Catalyst, Inc. (NASDAQ: HCAT).
Global Market Insights concluded: “The private cloud segment in the healthcare cloud computing market is estimated to attain a CAGR of 13.5% through 2027. Private cloud enables direct control over stored data in cloud to healthcare staff, thus allowing them to deploy own applications and also provides adherence to compliance issues. Also, various factors such as better control on computation, patient data and infrastructure further stimulate the market revenue. Developing IT infrastructure in emerging countries, and rising necessity to implement healthcare IT tools in healthcare settings will positively impact the market value… Growing acceptance of digital health services will offer significant the market expansion opportunities.”
Healthcare Triangle Inc. (NASDAQ: HCTI) BREAKING NEWS: Healthcare Triangle, Inc. Releases Shareholder Update – Healthcare Triangle Inc. (“HCTI” or the “Company”), a leading provider of cloud and data transformation platform and solutions for healthcare and life sciences, today released a shareholder update:
Dear Shareholders: Thank you for your continued commitment and investment in Healthcare Triangle, Inc . Our progress over the past year would not have been possible without your trust and belief in our mission. This is our first shareholder update since our Oct 2021 IPO and it has been a momentous journey and unique in every sense. We work alongside our customers and partners to help them build their own digital capability, creating new businesses, and earn their trust. I am very proud of how we are are using our platforms to help organizations innovate and deliver technology initiatives on the Cloud.
Your Company – Healthcare Triangle (“HCTI”) is a healthcare IT provider that delivers personalized healthcare, accelerates drug research, and supports digital transformation through proprietary technology platforms. HCTI is a well-recognized provider of cloud infrastructure migration, AI, data analytics, security & compliance and cloud managed services to Healthcare and Life Sciences customers. Our multi-cloud technology transformation platform CloudEz, data analytics platform DataEz, AI based platform Readabl.AI, and our Cloud EHR Managed Services have been at the forefront of our customer service offering and are leading to deeper partnerships, larger and multiyear cloud engagements. HCTI was recognized as one of the top 100 premier partners of Amazon Web Services, which is a Global community comprising of over 100,000 partners. The company also achieved Premier Partner status with Google Cloud in 2021.
Fiscal Year 2021 was a pivotal year for HCTI. We are focused on becoming one of the top 10 US healthcare IT providers by revenue by 2025. This impacts how we run the company, what investments we commit towards this vision and how we take our platform and services to the market. We recently hired a CRO with strong experience in the Healthcare and Life Sciences market to help us achieve this goal by building a world class sales team.
Strategic acquisition – DevCool Inc – We firmly believe that an expedited way to drive revenue and expand our offerings is by acquiring profitable strategic assets. We recently announced the acquisition of DevCool Inc, an EPIC EHR Implementation and Managed Services company servicing 6 of the top 10 hospitals in the USA. DevCool also specializes in providing healthcare IT services to cancer research hospitals and university medical centres. DevCool generated approximately $20 million in revenues in fiscal year 2020 and has generated consistent top line growth over the past 4-6 quarters and is expected to be EBITDA accretive to HCTI. The combined entity will focus on accelerating healthcare providers’ adoption of cloud technologies to improve clinical, operational, and financial performance. The acquisition also opens opportunities to upsell our SaaS Platforms like CloudEz, DataEz, and Readabl.AI to DevCool’s existing client base. CONTINUED… Read this full release for Healthcare Triangle at: https://www.healthcaretriangle.com/investors/
Other recent developments in the markets include:
INOVIO (NASDAQ: INO) recently announced updates on the Phase 3 program for VGX-3100 for HPV-associated cervical high-grade squamous intraepithelial lesions (HSIL), including a one-year follow-up of efficacy and safety data in participants from REVEAL1, completing enrollment in REVEAL2, and advancing its pre-treatment biomarker candidate for VGX-3100 to be further developed with QIAGEN. In addition, INOVIO’s development partner within Greater China(mainland China, Hong Kong, Macao, Taiwan), ApolloBio Corp. (“ApolloBio”), dosed the first participant in a separate Phase 3 trial in China.
Dr. J. Joseph Kim, President and CEO of INOVIO, said, “We are making strong progress in developing INOVIO’s immunotherapies treating HPV-associated cervical HSIL. Left untreated, cervical HSIL may progress to cancer. VGX-3100 has the potential to be the first approved immunotherapy and non-surgical alternative for women with cervical HSIL and we look forward to advancing our efforts from our Phase 3 studies through commercialization.”
Tabula Rasa HealthCare, Inc.® (NASDAQ: TRHC), a leading healthcare technology company advancing the safe use of medications, recently announced a five-year contract renewal with Evernorth℠, a premier health services business that connects and coordinates innovative and flexible solutions for health plans, employers, and government programs, to expand use of TRHC’s Medication Therapy Management (MTM) programs and other clinical services.
Evernorth renews contract and expands use of TRHC’s Medication Therapy Management programs and other clinical services. The new agreement expands upon THRC’s previous 10 year relationship with Express Scripts PBM, which is part of the Evernorth portfolio.
“We are thrilled to extend our long-term relationship with Evernorth, helping them to advance the safe use of medication among their customers,” said TRHC Chairman and CEO, Calvin H. Knowlton, PhD.
Health Catalyst, Inc. (NASDAQ: HCAT), a leading provider of data, analytics and technology services to healthcare and life sciences organizations, and Datavant, the leader in helping organizations securely connect health data, recently announced a strategic partnership to improve research and care delivery with connected health data.
The partnership between Datavant and Health Catalyst will enable life sciences and healthcare organizations to exchange tokenized, de-identified data within the recently announced Health Catalyst Research Network™ and Health Catalyst Touchstone Match™. “Tremendous waste occurs from failing to recruit patients truly eligible for trials. Improved collaboration through connected healthcare data during the clinical trial process can help solve this problem and increase the potential for new discoveries and treatments for patients,” said Sadiqa Mahmood, General Manager & Senior Vice President, Life Sciences Business, at Health Catalyst.
Phreesia, Inc. (NYSE: PHR) recently announced it has acquired Insignia Health, LLC, a founder-led and mission-oriented company dedicated to improving health outcomes through patient activation. The acquisition is a natural extension of Phreesia’s commitment to enabling patients to become more active participants in their care.
“Phreesia’s core strength is putting tools in the hands of patients to take on tasks—from self-reporting data like social determinants of health to making payments to signing consent forms—that they can do better than anyone else, and that align with the convenient digital experience they want,” said Phreesia’s CEO Chaim Indig. “We’ve long admired Insignia’s expertise in understanding and activating patients, and we believe this acquisition will help us deliver on our mission to create a better, more engaging healthcare experience.”
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult =a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated twenty six hundred dollars for news coverage of the current press releases issued by Healthcare Triangle Inc. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Media Contact email: firstname.lastname@example.org – +1(561)325-8757