Telus Enters Cloud-based EMR Biz - Analyst Blog

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Telus Health Solutions, a division of Telus Corporation ( TU ) has recently announced the acquisition of Wolf Medical Systems, a leading electronic medical records ( EMR ) company providing cloud-based EMR services across Canada in the health space.

Although the financial details of the deal has not been disclosed, the collaboration is expected to boost EMR services further by combining Wolf's advanced cloud-based EMR technology with Telus' wireless and wireline broadband communications networks.

Given the rapid development of information technology in every industry, the healthcare sector remains no exception. Further, the need for electronic data storage solutions is also growing at a faster space in this arena, replacing paper-based records.

Computerized health information systems have become popular over their two decades of existence, and EMR remains at a core of this technology for providing integrated healthcare solutions. The market has registered a boom in the last couple of years following federal government legislation that requires medical providers to modernize their systems.

The addition of cloud-based technology has further enhanced this service in terms of security and reliability of records, and generating increased market traction. This mode of paperless and easily accessible medical records has aided many healthcare professionals and is expected to dominate a significant market share in future given its growing importance.

According to sources, the electronic health records market is expected to reach approximately $6 billion by 2015 in the U.S. As a result, telecom companies like TELUS are aggressively focusing on this new genre of technological advancement. 

Although the apparent gain on this deal is yet to realized by Telus, we believe that given Wolf Medical system's 13 years of experience in cloud-based EMR solutions in an industry dominated by big players like Cerner ( CERN ) , Allscripts ( MDRX ) and Quality Systems ( QSII ), Telus has a fair chance of seeing success in this technological front and gain advantage over its peers like Rogers Communication ( RCI ) and BCE Inc. ( BCE ), which have yet to venture into this business.


 
BCE INC ( BCE ): Free Stock Analysis Report
 
CERNER CORP ( CERN ): Free Stock Analysis Report
 
ALLSCRIPTS HLTH ( MDRX ): Free Stock Analysis Report
 
QUALITY SYS ( QSII ): Free Stock Analysis Report
 
ROGERS COMM CLB (RCI): Free Stock Analysis Report
 
TELUS CORP (TU): Free Stock Analysis Report
 
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Business , Stocks

Referenced Stocks: BCE , CERN , EMR , MDRX , QSII

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