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Cerner's (CERN) Millennium Picked by Mid-Valley Hospital

Cerner Corporation CERN recently announced that its flagship Cerner Millennium platform has been selected by Mid-Valley Hospital (“MVH”). Additionally, MVH purchased Cerner population health solutions. MVH thus aims to establish a one patient-centric electronic health record (EHR) in the hospital and also in its Mid-Valley Medical Group clinic.

Cerner Millennium in Focus

Cerner Millennium is an HCIT platform designed to support an individual’s care across the continuum — from the doctor’s office to the hospital and other venues of care.

Interestingly, the platform has seen some notable developments this year.

In October, Cerner Millennium was integrated with B. Braun Medical’s Infusomat Space Large Volume Pumps at the McLaren Greater Lansing Hospital, Michigan. (Read More: Cerner's Millennium Platform Integrated at McLaren Hospital)

In September, Cerner Millennium was selected by Pershing Health System. (Read More: Cerner CommunityWorks Selected by Pershing Health System)

Other platforms of the company which deserve a mention here are HealtheIntent, Population Health, Revenue Cycle and ITWorks.

EHR Gaining Popularity in Healthcare

The latest trend of EHR services in the U.S. MedTech space has been gaining prominence. Cerner has been dominating the headlines in this respect, courtesy of efforts to digitize EHR systems.

According to Transparency Market Research, the global EHR market is estimated to reach $38.29 billion by 2025, at a CAGR of 5.7%. Reports suggest that MedTech companies with strong exposure to big data automated EHRs will excel in terms of operations and margins.

Another key player in the space is athenahealth ATHN whose athenaNet deserves a mention in this regard.

Shares Lack Luster

In the past year, Cerner's shares have lost 21.3% against the industry's decline of 15%. The current level is also lower than the S&P 500 index's decline of 5.4%. Nevertheless, we believe that developments like these will boost the stock in the coming days.

Cerner has a Zacks Rank #3 (Hold).

Key Picks

Some better-ranked stocks in the broader medical space are Stryker Corporation SYK and Surmodics, Inc. SRDX.

Stryker has a long-term expected earnings growth rate of 10% and a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Surmodics’ long-term earnings growth rate is projected at 10%. The stock carries a Zacks Rank #2.

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