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Health Catalyst, Inc. (Nasdaq: HCAT) is a leading provider of data and analytics technology and services to healthcare organizations. Founded by healthcare veterans, the company specializes in building comprehensive data warehousing and process improvement solutions, aiming to significantly enhance healthcare delivery. Health Catalyst's innovative solutions are powered by its adaptive data architecture, which uses a late-binding bus model for agile and quick implementation.
The company operates primarily through two segments: Technology and Professional Services. The Technology segment is the key revenue driver, providing data platforms, analytics applications, and support services under cloud-based subscriptions, time-based licenses, and maintenance agreements. The Professional Services segment offers analytics, implementation, strategic advisory, outsourcing, and improvement services, enabling clients to maximize the utility of Health Catalyst's technological offerings.
Health Catalyst has recently gained recognition with several achievements:
- VitalCDM: Ranked number one in the Revenue Cycle - Chargemaster Management category of the 2024 Best in KLAS: Software & Services.
- MeasureAble™: Achieved ONC-Health IT 2015 Edition Certification, allowing its use for various quality reporting programs.
- Able Health Registry: Received QPP Qualified Registry approval for the 2024 performance year from CMS.
- Acquisition of Carevive Systems: Strengthened their capabilities in oncology data analytics, improving patient care and outcomes.
Financially, Health Catalyst continues to show promising trends, with forward-looking revenue and EBITDA guidance indicating growth. The company frequently updates its investors through quarterly earnings calls and reports, reflecting transparency and financial health.
Health Catalyst envisions a future where all healthcare decisions are data-informed, leveraging a cloud-based data platform encompassing over 100 million patient records and trillions of data points. This commitment to data-informed decision-making is at the core of its mission to drive measurable improvements in clinical, financial, and operational metrics for healthcare organizations.
For more information, visit the Health Catalyst Investor Relations page.
Health Catalyst (Nasdaq: HCAT), a leading provider of data and analytics technology for healthcare organizations, has announced its plans to release second quarter 2024 operating results on Wednesday, August 7, 2024, after market close. The company will host a conference call at 5 p.m. E.T. on the same day to review the results.
Participants can join the call by dialing 800-267-6316 (U.S.) or 203-518-9783 (international) with the conference ID "HCATQ224". A live audio webcast will be available at https://ir.healthcatalyst.com/, with a replay accessible shortly after the call for approximately 90 days.
Health Catalyst (Nasdaq: HCAT) has secured a $225 million credit facility with Silver Point Finance. The facility includes an initial $125 million term loan and a $100 million delayed draw option. The company will use the funds to refinance existing convertible notes due in 2025 and support its growth strategy.
CEO Dan Burton emphasized the importance of this non-dilutive capital for pursuing organic and inorganic growth opportunities. CFO Jason Alger highlighted the flexibility of the financing structure, allowing Health Catalyst to address near-term debt maturity while focusing on creating shareholder value and maintaining a strong balance sheet.
Health Catalyst (Nasdaq: HCAT) has completed its acquisition of Carevive Systems, a health technology company specializing in oncology. Carevive's platform is used for treatment care planning, clinical trial screening, care coordination, remote patient monitoring, and post-treatment care. This acquisition will enhance Health Catalyst's capabilities in oncology care and patient-reported outcomes. Both companies aim to leverage data and analytics to improve patient care and outcomes. The integration promises to deliver innovative solutions to cancer centers and provide researchers with valuable real-world data.
Health Catalyst (Nasdaq: HCAT), a top provider of data and analytics technology in healthcare, announced its participation in key investor conferences. CFO Jason Alger and VP of Investor Relations Jack Knight will represent the company.
They will attend The Stifel Cross Sector Insight Conference in Boston, featuring a fireside chat on June 4, 2024, at 9:45am ET. Additionally, they will present at The Goldman Sachs 45th Annual Global Healthcare Conference in Miami, scheduled for June 12, 2024, at 8:40am ET.
Health Catalyst (Nasdaq: HCAT) has launched Health Catalyst Ignite®, a next-generation data and analytics ecosystem designed for the healthcare sector. The platform integrates advanced technologies, healthcare-specific data models, self-service tools, and industry expertise to address the challenges of data management in healthcare. Ignite offers seamless integration, scalability, and flexibility, reducing costs and improving decision-making. It enables data sharing, centralizes data governance, and democratizes analytics to provide faster insights and enhanced control. The platform supports a range of healthcare use cases, from clinical improvement to operational efficiency, leveraging AI and machine learning for predictive insights.
Health Catalyst, Inc. reported strong financial results for the first quarter of 2024, with total revenue of $74.7 million and Adjusted EBITDA of $3.4 million, beating guidance mid-points. The company remains focused on long-term profitability goals and reaffirmed its full-year guidance for 2024. Key metrics show growth in gross profit and margins, with a 1% increase in total revenue year over year. However, there was a 19% decrease in Adjusted EBITDA compared to the same period last year.
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