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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Health Catalyst, Inc.    HCAT

HEALTH CATALYST, INC.

(HCAT)
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Health Catalyst : Enters Middle East; Brings Data and Analytics Technology Solutions to MEAHCO's Saudi German Hospitals in KSA

10/29/2020 | 04:40pm EST
Health Catalyst Enters Middle East; Brings Data and Analytics Technology Solutions to MEAHCO's Saudi German Hospitals in KSA

Dubai-based Topmed to provide affordable infrastructure and foundation for future growth

Salt Lake City, UT- October 29, 2020- Health Catalyst, Inc. ('Health Catalyst,' Nasdaq: HCAT), a leading provider of data and analytics technology and services to healthcare organizations, today announced a multi-year strategic partnership with Middle East Healthcare Company (MEAHCO) to service six Saudi German Hospitals in the Kingdom of Saudi Arabia (KSA). The professional services component of the partnership with hospital owner and operator MEAHCO will be implemented by Topmed, a Dubai-based healthcare improvements firm, as Health Catalyst's exclusive partner for in-region optimization consulting.

The six hospitals will have access to Health Catalyst's DOS™ technology, a data-first, analytics and application platform that transforms raw data into actionable insights. Health Catalyst will work with Saudi German leadership to develop strategies, solutions and methodologies to decrease the cost of care, enhance financial performance, and improve the quality of patient care.

'Saudi German is dedicated to embracing advanced healthcare technologies and best practices to continue to deliver world-class patient care. In Health Catalyst, we've found a partner that is not only equally committed to using technology to transform healthcare, but also shares our values of the highest degree of dignity, equality, honesty, empathy and trust,' said Makarem Batterjee, President, Saudi German Hospitals Group. 'Health Catalyst's comprehensive offering puts us at the forefront of transformative care so that we can continue to set and exceed the standard of healthcare in the region.'

The MEAHCO partnership will be executed with the support of Topmed, who will employ a team of data analytics, operations and care management, healthcare cost accounting, and other domain experts to help customers shorten time-to-value and achieve sustainable measurable improvements, utilizing state-of-the-art apps and analytics, Augmented Intelligence (AI), machine learning and machine teaming. The Topmed partnership is also intended to create a foundation for Health Catalyst's continued expansion in the region.

'As the healthcare industry continues to grow rapidly in the region, hospitals and clinics are eager to adopt innovative technology solutions to help reach their clinical, operation and financial goals,' said Dr. M. Sayf Abdelrahman, CEO of Topmed. 'We are pleased to partner with Health Catalyst as we embark on this important journey to advance the standard of patient care in the Middle East and North Africa.'

'We have tremendous respect and admiration for Saudi German Hospitals and Topmed, and are honored to forge this critical international relationship,' said Jeff Selander, Senior Vice President and General Manager of Global Expansion Business at Health Catalyst.

'We are so grateful for the opportunity to be partnering with MEAHCO and Topmed to transform healthcare delivery. Saudi German Hospitals' dedication to unparalleled patient care, combined with greater data-informed decision making, creates an extraordinary transformational opportunity,' said Dan Burton, CEO of Health Catalyst. 'This significant relationship will allow us to further our global mission of delivering massive, measurable, data-informed healthcare improvement for every patient on the planet.'

About Middle East Healthcare Company (MEAHCO)
MEAHCO is a publicly listed company, based in Saudi Arabia, which owns, manages and operates a network of state-of-the art hospitals and facilities under the Saudi German Hospital (SGH) Group. MEAHCO, under the brand of SGH, has wide geographical footprint in Saudi Arabia covering Jeddah, Aseer, Riyadh, Madinah, Dammam, Makkah and Hail. MEAHCO also provides management supervision services to other SGH hospitals and Medical Campuses across the Middle East and North Africa.

About Topmed
Topmed is an innovation focused entity that empowers the healthcare and wellness industry by offering a broad spectrum of specialized services. Topmed believes that quality health is the right of every individual. Topmed channels its forces to look out for innovations within the healthcare industry globally and facilitate healthcare providers to meticulously deploy these services. Its motto is to enable healthcare entities to leverage the possibilities of continuous innovation in the healthcare industry. Topmed's scope of work encompasses a wide array of sectors that comprise of healthcare systems, recruitment, health insurance, financing and construction.

About Health Catalyst
Health Catalyst is a leading provider of data and analytics technology and services to healthcare organizations committed to being the catalyst for massive, measurable, data-informed healthcare improvement. Its customers leverage the cloud-based data platform-powered by data from more than 100 million patient records and encompassing trillions of facts-as well as its analytics software and professional services expertise to make data-informed decisions and realize measurable clinical, financial, and operational improvements. Health Catalyst envisions a future in which all healthcare decisions are data informed.

Media Contact:
Amanda Hundt
amanda.hundt@healthcatalyst.com
575-491-0974

Disclaimer

Health Catalyst Inc. published this content on 29 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 October 2020 21:39:08 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 188 M - -
Net income 2020 -91,8 M - -
Net cash 2020 96,9 M - -
P/E ratio 2020 -19,8x
Yield 2020 -
Capitalization 2 023 M 2 023 M -
EV / Sales 2020 10,3x
EV / Sales 2021 8,61x
Nbr of Employees 1 000
Free-Float 95,1%
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Number of Analysts 14
Average target price 44,85 $
Last Close Price 47,59 $
Spread / Highest target 5,06%
Spread / Average Target -5,77%
Spread / Lowest Target -22,3%
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Managers and Directors
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Daniel D. Burton Chief Executive Officer & Director
Patrick J. Nelli President
Paul Horstmeier Chief Operating Officer
Bryan Hunt Chief Financial Officer
Holly Rimmasch Chief Clinical Officer
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