) revealed that it has entered a strategic partnership with
non-profit organization Primary Care Development Corporation
(PCDC) to provide technology and consulting services to primary
care providers (PCPs) in underserved communities. The partnership
will improve performance of medical practices while easing
administrative work of PCPs with the help of cloud-based services
and information technology (IT) so that they can focus on high
quality services to patients.
As part of the partnership, ATHN and PCDC will conduct seminars
across the U.S. to educate PCPs about their services meeting
their Health IT (or HIT) needs as well as developing
patient-centered models. Their services will help community
health centers to gain access to leading technology services,
practice transformation and certification and provide technical
resources to prepare reports on quality outcomes and clinical
Primary Care Development Corporation was founded in 1993 and aims
to improve health outcomes, reduce health costs, and scale down
disparities in the availability and quality of health care. It
provides services in three ways, namely, capital investment,
performance improvement, and policy and advocacy. Till date, the
organization has served more than 900 organizations with more
than seven million patients.
Athenahealth saw an adjusted loss of 21 cents per share in the
second quarter of 2013 in sharp contrast to Zacks Consensus
Estimate of earnings of 8 cents as well as the year-ago earnings
of 13 cents. Reported net loss in the quarter was $12.4 million
or 34 cents per share compared with net income of $4.2 million or
Revenues surged 41% year over year to $146.3 million in the
quarter but missed the Zacks Consensus Estimate of $148 million.
The increase was attributable to expanded clientele for the
company's offerings and benefits from Epocrates takeover.
athenahealth revised its expectations for 2013. Total revenue is
expected to be in the midpoint of the earlier guidance range of
$580 million to $615 million.
Currently, ATHN carries a Zacks Rank #3 (Hold). While we remain
on the sidelines for the company, other scrips that are
performing well in the medical products industry include
PLC Systems Inc.
), both with a Zacks Rank #1 (Strong Buy), and in the medical
information systems industry such as
Medidata Solutions, Inc.
) with a Zacks Rank #2 (Buy).
ALERE INC (ALR): Free Stock Analysis Report
ATHENAHEALTH IN (ATHN): Free Stock Analysis
MEDIDATA SOLUTN (MDSO): Free Stock Analysis
PLC SYSTEMS INC (PLCSF): Get Free Report
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