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Merck KGaA Chooses PRA Health's (PRAH) Remote Monitoring Tool
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PRA Health Sciences, Inc. recently announced that Merck KGaA, Darmstadt, Germany, which is known as EMD Serono in the United States, chose PRA Health’s remote patient monitoring platform to operate along with its human growth hormone (HGH) treatment system.
This development is likely to boost PRA Health’s Data Solutions segment, which offers data, analytics, technology and consulting solutions to the life sciences market.
More on the Development
Per the terms of the deal, PRA Health’s remote patient monitoring platform will enable Merck KGaA, Darmstadt, Germany’s HGH treatment system including growlink, a mobile app for patients prescribed with HGH treatment and easypod Connect, a secure platform for healthcare professionals (HCP) in the endocrinology space to track patients’ routine adherence, monitor injection history and share information about their progression with growth hormone disorder.
With growlink and easypod Connect, backed by PRA Health’s remote patient monitoring platform, Merck KGaA can offer patients a set of advanced tools to help manage their conditions and ensure payers of the efficient use of treatments while fully safeguarding their privacy and assuring data security.
This technology-driven HGH treatment enhances patient engagement and aids HCPs in making better use of patient visits. This also ensures regularity of treatment with the right dosage, thereby optimizing treatment outcome and boosting payer confidence.
PRA Health made a name for itself with its commitment toward developing an end-to-end digital health platform, which assists in mobile healthcare delivery like remote patient monitoring. This partnership with Merck KGaA, Darmstadt to lend support to growlink and easypod Connect is another instance of the advancement of the industry that has patients at the center of PRA Health’s innovation.
Notable Developments
In March, PRA Health introduced its Patient-Centric Trial Development Toolkit that is currently available to clinical development sponsors specializing in rare diseases. Notably, the toolkit was created by PRA Health’s Center for Rare Diseases in partnership with the company’s Rare Disease Advisory Committee (RDAC) and other patient stakeholders.
In December 2020, PRA Health announced the enhancement of its COVID-19 Monitoring Program with the addition of at-home COVID-19 testing capabilities. Through a partnership with PWNHealth and Fulgent Genetics, the testing capabilities broadened the scope of PRA Health’s existing COVID-19 clinical monitoring, symptom reporting and management services suite, which is available on the patient-centric Health Harmony mobile app.
Market Prospects
Per aMarketWatch.comreport, the life science analytics market is projected to see a CAGR of 11.91% during the 2019-2025 period.It was valued at $19.16 billion in 2018. Hence this development is well-timed.
Price Performance
In the past year, shares of the company have outperformed the industry. The stock has gained 76.1% compared with the industry’s 19.4% growth.
Hill-Rom Holdings has a projected long-term earnings growth rate of 7.3%.
Surmodics has a projected long-term earnings growth rate of 10%.
Veeva has an estimated long-term earnings growth rate of 14.5%.
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Merck KGaA Chooses PRA Health's (PRAH) Remote Monitoring Tool
PRA Health Sciences, Inc. recently announced that Merck KGaA, Darmstadt, Germany, which is known as EMD Serono in the United States, chose PRA Health’s remote patient monitoring platform to operate along with its human growth hormone (HGH) treatment system.
This development is likely to boost PRA Health’s Data Solutions segment, which offers data, analytics, technology and consulting solutions to the life sciences market.
More on the Development
Per the terms of the deal, PRA Health’s remote patient monitoring platform will enable Merck KGaA, Darmstadt, Germany’s HGH treatment system including growlink, a mobile app for patients prescribed with HGH treatment and easypod Connect, a secure platform for healthcare professionals (HCP) in the endocrinology space to track patients’ routine adherence, monitor injection history and share information about their progression with growth hormone disorder.
With growlink and easypod Connect, backed by PRA Health’s remote patient monitoring platform, Merck KGaA can offer patients a set of advanced tools to help manage their conditions and ensure payers of the efficient use of treatments while fully safeguarding their privacy and assuring data security.
This technology-driven HGH treatment enhances patient engagement and aids HCPs in making better use of patient visits. This also ensures regularity of treatment with the right dosage, thereby optimizing treatment outcome and boosting payer confidence.
PRA Health made a name for itself with its commitment toward developing an end-to-end digital health platform, which assists in mobile healthcare delivery like remote patient monitoring. This partnership with Merck KGaA, Darmstadt to lend support to growlink and easypod Connect is another instance of the advancement of the industry that has patients at the center of PRA Health’s innovation.
Notable Developments
In March, PRA Health introduced its Patient-Centric Trial Development Toolkit that is currently available to clinical development sponsors specializing in rare diseases. Notably, the toolkit was created by PRA Health’s Center for Rare Diseases in partnership with the company’s Rare Disease Advisory Committee (RDAC) and other patient stakeholders.
In December 2020, PRA Health announced the enhancement of its COVID-19 Monitoring Program with the addition of at-home COVID-19 testing capabilities. Through a partnership with PWNHealth and Fulgent Genetics, the testing capabilities broadened the scope of PRA Health’s existing COVID-19 clinical monitoring, symptom reporting and management services suite, which is available on the patient-centric Health Harmony mobile app.
Market Prospects
Per a MarketWatch.com report, the life science analytics market is projected to see a CAGR of 11.91% during the 2019-2025 period.It was valued at $19.16 billion in 2018. Hence this development is well-timed.
Price Performance
In the past year, shares of the company have outperformed the industry. The stock has gained 76.1% compared with the industry’s 19.4% growth.
Stocks to Consider
PRA Health currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the broader medical space are HillRom Holdings , Surmodics (SRDX - Free Report) and Veeva Systems (VEEV - Free Report) , each presently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Hill-Rom Holdings has a projected long-term earnings growth rate of 7.3%.
Surmodics has a projected long-term earnings growth rate of 10%.
Veeva has an estimated long-term earnings growth rate of 14.5%.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
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