Syneos Health (SYNH) Declares Strategic Partnership With Oracle
Syneos Health SYNH recently announced a strategic collaboration that will expand its relationship with Oracle. The partnership will utilize the Oracle Cerner Learning Health Network (“LHN”) and the elements of Oracle’s suite of study startup solutions to help reduce the time taken to recruit patients for clinical studies and increase the diversity of patient populations participating in medical research.
Through the latest development, Syneos Health is evolving its patient recruitment capabilities to further address unmet sponsor, site and patient needs.
News in Detail
The Oracle Cerner LHN is a nationwide network of diverse health systems, ranging from small clinics to large hospitals that share de-identified, real-world data to help physicians advance clinical research. Through the combination of Oracle’s site selection capabilities, the Oracle Cerner LHN and SYNH’s clinical recruitment capabilities, the companies aim to provide physicians with greater access to a diverse set of data to bring clinical trial opportunities to a broader group of patients and speed new therapies to the market.
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The complexity of the current clinical research recruitment process makes it difficult to reach diverse populations and deliver much-needed treatments to the market timely. SYNH’s enhanced collaboration with Oracle demonstrates its intention of continued investments in technology and data solutions that accelerate clinical development and optimize performance for customers.
Industry Prospects
Per a Research report, the global eClinical solution market was valued at $7.89 billion in 2022 and is expected to witness a CAGR of 13.9% by 2030.
Recent Collaborations
Of late, Syneos Health is increasing its focus on the expansion of clinical trial capabilities through new partnership deals. The company’s innovative Catalyst Site Program, launched in 2016, streamlines each aspect of the clinical development process and supports the development of new methodologies to bring therapies to patients faster.
Last month, the program was expanded to Mainland China via SYNH’s agreement with Union Hospital, Tongji Medical College and the Huazhong University of Science and Technology (“Wuhan Union Hospital”). In addition, Syneos Health also announced a collaboration with Aotearoa Clinical Trials in New Zealand and the University Malaya Medical Centre in Malaysia, expanding the company’s clinical trial capabilities across a broader range of therapeutic areas in the respective countries.
Price Performance
In the past six months, Syneos Health shares have increased 22.8% against the industry’s fall of 15.9%.
Zacks Rank and Key Picks
Syneos Health currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Haemonetics HAE, Quanterix QTRX and SiBone SIBN, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Haemonetics’ stock has risen 15% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and $3.96 to $4.07 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days. Shares of the company have increased 159.4% in the past year against the industry’s decline of 4.1%.
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for SiBone’s 2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have increased 23.1% in the past year against the industry’s fall of 2.1%.
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.
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