Fly News Breaks for October 10, 2018
MDRX, CERN
Oct 10, 2018 | 05:24 EDT
Piper Jaffray analyst Sean Wieland says he learned at Cerner's (CERN) user group conference that Northwell Health, the largest health system in New York, will launch the company's Soarian revenue cycle product across its 23 inpatient facilities, beginning with Huntington Hospital in May. This win is significant for Cerner and proves the staying power of Soarian, Wieland tells investors in a research note. Further, Northwell uses Allscripts (MDRX) for its inpatient electronic health records, and losing this opportunity to Cerner "goes against the grain of Allscripts's strategy to bring all of their customers into one unified Allscripts platform," Wieland adds. He believes integration with Salesforce (CRM) provides Cerner with a strong competitive advantage and reiterates an Overweight rating on the shares with a $71 price target.
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