Becton, Dickinson and Company BDX, popularly known as BD, recently announced the integration of the BD HealthSight Analytics Solutions in Eastern Health facilities. It is worth mentioning that Eastern Health will be the first healthcare authority in Canada to integrate BD HealthSight, which will help in lowering the usage of antibiotics and other medications while enabling healthcare providers to detect emerging infections among patients.
In late 2021, BD and Eastern Health formally announced their innovation collaboration. Since then, they have been jointly working to boost clinical outcomes for patients through the implementation of innovative solutions for healthcare professionals.
In fact, this solution is crucial when it comes to a broader partnership program between BD and Eastern Health as it will aid in focusing on connected medication management and extending infection prevention and antimicrobial stewardship programs.
This announcement is likely to provide a boost to BD’s Life Sciences business.
More on the News
Antimicrobial stewardship programs have been developed to enhance antibiotic therapies to aid in slowing the emergence of drug resistance. BD HealthSight supports data to provide important analytics and insights for hospitals and the scientific community to accelerate stewardship efforts.
Image Source: Zacks Investment Research
Per management at BD, this announcement reflects a crucial expansion of its partnership with Eastern Health with respect to lending support to patients and the healthcare system of Newfoundland and Labrador. Providing timely insights to protect healthcare systems against infectious disease trends and their unintended consequences is important, and the implementation of HealthSight can help in delivering a necessary solution to support the right care at the right time.
Per a report by Grand View Research, the global infectious disease molecular diagnostics market was worth $32.4 billion in 2020 and is anticipated to witness a CAGR of 3% from 2020 to 2028. Hence, this announcement is well-timed for BD.
This month, the company announced a partnership with Mayo Clinic Platform. The tie-up is aimed at accessing de-identified patient data from Mayo Clinic Platform_Discover to perform detailed post-market surveillance on its products. The latest collaboration is expected to drive innovation and unlock a faster and more efficient path to market, with the ultimate objective being better patient care.
Again, this month, BD announced a partnership with CerTest Biotec, which is aimed at developing a molecular diagnostic test for the monkeypox virus.
Shares of the Zacks Rank #3 (Hold) company have lost 1.1% over the past year compared with the industry’s decline of 13.1%.
Stocks to Consider
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. AMN, Masimo Corporation MASI and ShockWave Medical, Inc. SWAV.
AMN Healthcare surpassed earnings estimates in each of the trailing four quarters, the average surprise being 15.6%. The company currently sports a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AMN Healthcare’s long-term earnings growth rate is estimated at 1.1%. The company’s earnings yield of 11.4% compares favorably with the industry’s (0.8%).
Masimo beat earnings estimates in each of the trailing four quarters, the average surprise being 4.4%. The company currently carries a Zacks Rank #2.
Masimo’s estimated earnings growth rate for second-quarter 2022 is pegged at 22.3%. The company’s earnings yield is 3.8% against the industry’s (8.5%).
ShockWave Medical surpassed earnings estimates in each of the trailing four quarters, the average surprise being 189.9%. The company currently flaunts a Zacks Rank #1.
ShockWave Medical’s earnings growth rate for 2022 is estimated at 807.7%. The company’s earnings yield of 0.9% compares favorably with the industry’s (8%).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Zacks Investment Research