Health Catalyst, Inc - HCAT STOCK NEWS

Contexture, the largest health information organization in the western U.S., has announced plans to transition to a unified technology platform for its health information exchange (HIE) services across Arizona and Colorado. The upgrade, set to begin in 2023 and complete by 2025, will enhance data exchange capabilities for approximately 28 million patients. Key benefits include improved electronic health record interoperability, enhanced security, greater flexibility, and a better user experience. This initiative marks an expansion of Contexture's partnership with Health Catalyst, a leader in healthcare data analytics, aimed at improving patient care quality and system efficiency.

Health Catalyst, a leading provider of data analytics technology, has partnered with GI Quality Improvement Consortium (GIQuIC) to enhance the nation's only gastroenterology-focused clinical registry. This collaboration will leverage Health Catalyst's ARMUS solution to streamline data entry and improve reporting for GIQuIC's registry participants. By early 2024, GIQuIC aims to transition its operations for colonoscopy and EGD procedures and expand data collection on various endoscopic procedures and disease states. This partnership is expected to enhance healthcare quality through improved data management and analytics.

Health Catalyst (Nasdaq: HCAT) announced that its CFO, Bryan Hunt, and SVP of Investor Relations, Adam Brown, will participate in the 44th Annual Raymond James Institutional Investors Conference on March 8, 2023, at 8:05 am EST in Orlando. This conference provides a platform for Health Catalyst to discuss its innovative data and analytics solutions aimed at enhancing healthcare decision-making. A replay of the presentation will be available online at Health Catalyst Investor Relations. The company is dedicated to driving measurable improvements in clinical, financial, and operational aspects of healthcare through its extensive analytics capabilities.

Health Catalyst (NASDAQ: HCAT) announced a multi-year contract expansion with INTEGRIS Health, Oklahoma's largest not-for-profit health system, enhancing analytics capabilities across its network. This three-year agreement deepens their partnership, introducing an increased all-access technology subscription and Tech-Enabled Managed Services (TEMS). TEMS aims to reduce labor costs and improve operational efficiencies. The collaboration supports INTEGRIS's commitment to quality and safety outcomes, benefiting patients through data-informed healthcare improvements. Health Catalyst has served over 500 clients leveraging its cloud-based platform, impacting more than 100 million patient records.

Health Catalyst, Inc. (HCAT) announced a five-year strategic partnership with Deaconess Health System to enhance clinical, operational, and financial performance through data analytics. The partnership aims to utilize Health Catalyst's analytics technology to transform Deaconess’s health services across 51 counties in Indiana, Illinois, and Kentucky. Deaconess will leverage Health Catalyst’s enterprise analytics tools, including the Analytic Accelerators library and Pop Insights™, to improve patient care and operational efficiency, aiming to become a fully data-driven organization. Both parties expressed enthusiasm about the potential outcomes of this collaboration.

Health Catalyst (NASDAQ: HCAT) announced a multi-year partnership with Bryan Health, a renowned health system in Nebraska, on February 28, 2023. This collaboration focuses on using Health Catalyst's data and analytics technology to enhance population health management across Bryan Health's extensive network, including 23 Critical Access Hospitals and 1,885 providers. Bryan Health will utilize Health Catalyst's Data Operating System (DOS) and related tools to improve care quality and coordination. This partnership marks Health Catalyst's first customer in Nebraska, aiming to transform healthcare services in the state.

Health Catalyst (HCAT) has appointed Matthew Kolb, COO of Carle Health, to its board of directors, effective July 1, 2023. Kolb brings extensive experience in innovative healthcare leadership. His insights are expected to enhance Health Catalyst’s understanding of healthcare challenges. Additionally, Carle Health announced its decision to become a shareholder in Health Catalyst through recent stock purchases. This partnership, which began in 2020, has been strengthened by a new five-year contract focusing on technology-enabled services aimed at improving analytics capabilities.

Health Catalyst reported its financial results for Q4 and the full year 2022, highlighting a strong performance with total revenue increasing 7% year-over-year to $69.2 million in Q4 and 14% to $276.2 million for the year. Technology revenue rose 11% in Q4 and 19% for the year, while professional services revenue saw a slight decline of 1% in Q4 but a 6% increase for the year. Adjusted EBITDA improved significantly, showing a 90% improvement in Q4 compared to the prior year. The company also announced the appointment of Matthew Kolb to its Board and Carle Health's long-term investment in Health Catalyst. Despite challenges such as inflation impacting dollar-based retention rates, management expressed optimism for future performance.

Health Catalyst (Nasdaq: HCAT) is set to release its fourth quarter and full year 2022 operating results on February 28, 2023, after market close. A conference call will follow at 5 p.m. E.T. to discuss the results. Interested parties can dial in using (800) 343-5172 for U.S. participants or (785) 424-1699 internationally, referencing the conference ID “HCAT Q422.” A live audio webcast will also be available, with a replay accessible for approximately 90 days afterward. Health Catalyst offers data and analytics technology to healthcare organizations, aiming for significant improvements through data-informed decisions.