Artificial Intelligence
Lantheus Reports Third Quarter 2022 Financial Results
- Worldwide revenue of $239.3 million for the third quarter 2022, representing an increase of 134.4% from the prior year period
- GAAP net income of $61.2 million for the third quarter 2022, compared to GAAP net loss of $13.4 million in the prior year period
- GAAP fully diluted net income per share of $0.86 for the third quarter 2022, compared to GAAP fully diluted net loss per share of $0.20 in the prior year period; adjusted fully diluted net income per share of $0.99 for the third quarter 2022, compared to adjusted fully diluted net income per share of $0.08 in the prior year period
- Net cash provided by operating activities was $93.6 million for the third quarter 2022. Free cash flow was $87.5 million in the third quarter 2022
- The Company provides fourth quarter 2022 revenue and adjusted diluted earnings per share guidance; increases full year guidance
NORTH BILLERICA, Mass., Nov. 03, 2022 (GLOBE NEWSWIRE) — Lantheus Holdings, Inc. (NASDAQ: LNTH) (Lantheus), a company committed to improving patient outcomes through diagnostics, radiotherapeutics and artificial intelligence solutions that enable clinicians to Find, Fight and Follow disease, today reported financial results for its third quarter ended September 30, 2022.
The Company’s worldwide revenue for the third quarter of 2022 totaled $239.3 million, compared with $102.1 million for the third quarter of 2021, representing an increase of 134.4% from the prior year period.
The Company’s third quarter 2022 GAAP net income was $61.2 million, or $0.86 per fully diluted share, as compared to GAAP net loss of $13.4 million, or $0.20 per fully diluted share for the third quarter of 2021.
The Company’s third quarter 2022 adjusted fully diluted net income per share, or earnings per share (“EPS”), were $0.99, as compared to $0.08 for the third quarter of 2021, representing an increase of approximately $0.91 from the prior year period.
Lastly, net cash provided by operating activities was $93.6 million for the third quarter 2022. Free Cash Flow was $87.5 million in the third quarter of 2022, representing an increase of approximately $85.6 million from the prior year period.
“This quarter, we executed on our strategy and delivered outstanding results,” said Mary Anne Heino, President and Chief Executive Officer. “Through the dedicated efforts of our employees, we grew our market-leading franchises while also investing in our business. As we plan for the future, we believe our leading franchises and strong balance sheet will help us to drive sustainable growth.”
The Company updates its guidance for full year 2022 and offers the following guidance for the fourth quarter:
| Q4 Guidance Issued November 3, 2022 | Previous Guidance Issued August 4, 2022 | |||
| Q4 FY 2022 Revenue | $243 million – $247 million | N/A | ||
| Q4 FY 2022 Adjusted Fully Diluted EPS | $0.95 – $0.98 | N/A | ||
| FY Guidance Updated November 3, 2022 | FY Guidance Issued August 4, 2022 | |||
| FY 2022 Revenue | $915 million – $919 million | $885 million – $905 million | ||
| FY 2022 Adjusted Fully Diluted EPS | $3.80 – $3.83 | $3.50 – $3.60 | ||
On a forward-looking basis, the Company does not provide GAAP income per common share guidance or a reconciliation of adjusted fully diluted EPS to GAAP income per common share because the Company is unable to predict with reasonable certainty business development and acquisition related expenses, purchase accounting fair value adjustments, and any one-time, non-recurring charges. These items are uncertain, depend on various factors, and could be material to results computed in accordance with GAAP. As a result, it is the Company’s view that a quantitative reconciliation of adjusted fully diluted EPS on a forward-looking basis is not available without unreasonable effort.
Internet Posting of Information
The Company routinely posts information that may be important to investors in the “Investors” section of its website at www.lantheus.com. The Company encourages investors and potential investors to consult its website regularly for important information about the Company.
Conference Call and Webcast
As previously announced, the Company will host a conference call and webcast on Thursday, November 3, 2022, at 8:00 a.m. ET. To access the conference call or webcast, participants should register online at https://investor.lantheus.com/news-events/calendar-of-events.
A replay will be available approximately two hours after completion of the webcast and will be archived on the same web page for at least 30 days.
The conference call will include a discussion of non-GAAP financial measures. Reference is made to the most directly comparable GAAP financial measures, the reconciliation of the differences between the two financial measures, and the other information included in this press release, our Form 8-K filed with the SEC today, or otherwise available in the Investor Relations section of our website located at www.lantheus.com.
The conference call may include forward-looking statements. See the cautionary information about forward-looking statements in the safe-harbor section of this press release.
About Lantheus Holdings, Inc.
With more than 60 years of experience in delivering life-changing science, Lantheus is committed to improving patient outcomes through diagnostics, radiotherapeutics and artificial intelligence solutions that enable clinicians to Find, Fight and Follow disease. Lantheus is headquartered in Massachusetts and has offices in New Jersey, Canada and Sweden. For more information, visit www.lantheus.com.
Non-GAAP Financial Measures
The Company uses non-GAAP financial measures, such as adjusted net income and its line components; adjusted net income per share – fully diluted; and free cash flow. The Company’s management believes that the presentation of these measures provides useful information to investors. These measures may assist investors in evaluating the Company’s operations, period over period. However, these measures may exclude items that may be highly variable, difficult to predict and of a size that could have a substantial impact on the Company’s reported results of operations for a particular period. Management uses these and other non-GAAP measures internally for evaluation of the performance of the business, including the allocation of resources and the evaluation of results relative to employee performance compensation targets. Investors should consider these non-GAAP measures only as a supplement to, not as a substitute for or as superior to, measures of financial performance prepared in accordance with GAAP.
Safe Harbor for Forward-Looking and Cautionary Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are subject to risks and uncertainties and are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by their use of terms such as “anticipate,” “believe,” “confident,” “continue,” “could,” “estimate,” “expect,” “guidance,” “intend,” “introduce,” “may,” “momentum,” “plan,” “predict,” “progress,” “project,” “promising,” “target,” “will,” “would” and other similar terms. Such forward-looking statements are based upon current plans, estimates and expectations that are subject to risks and uncertainties that could cause actual results to materially differ from those described in the forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. Readers are cautioned not to place undue reliance on the forward-looking statements contained herein, which speak only as of the date hereof. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. Risks and uncertainties that could cause our actual results to materially differ from those described in the forward-looking statements include: (i) our ability to continue to grow PYLARIFY as a commercial product, including (A) our ability to obtain FDA approval for additional positron emission tomography (“PET”) manufacturing facilities (“PMFs”) to manufacture PYLARIFY, (B) the ability of PMFs to manufacture PYLARIFY to meet product demand, (C) our ability to sell PYLARIFY to customers, (D) our ability to obtain and maintain adequate coding, coverage and payment for PYLARIFY, and (E) our ability to establish PYLARIFY as a leading PSMA PET imaging agent in an increasingly competitive environment in which other PSMA PET imaging agents have been approved and additional ones are in development; (ii) continued market expansion and penetration for our established commercial products, particularly DEFINITY, in the face of segment competition and potential generic competition, including as a result of patent and regulatory exclusivity expirations and challenges; (iii) the global Molybdenum-99 (“Mo-99”) supply; (iv) our ability to have third party manufacturers manufacture our products and our ability to manufacture DEFINITY in our in-house manufacturing facility; (v) our ability to successfully launch PYLARIFY AI as a commercial product; (vi) the continuing impact of the global COVID-19 pandemic on our business, supply chain, financial conditions and prospects; (vii) the efforts and timing for clinical development and regulatory approval of our product candidates and new clinical applications and territories for our products, in each case, that we may develop, including 1095 and NM-01, or that our strategic partners may develop, including piflufolastat F 18 in Europe and flurpiridaz fluorine-18 (“F 18”); (viii) our ability to identify and acquire or in-license additional diagnostic and therapeutic product opportunities in oncology and other strategic areas; (ix) the potential reclassification by the FDA of certain of our products and product candidates from drugs to devices with the expense, complexity and potentially more limited competitive protection such reclassification could cause; and (x) the risk and uncertainties discussed in our filings with the Securities and Exchange Commission (including those described in the Risk Factors section in our Annual Reports on Form 10-K and our Quarterly Reports on Form 10-Q).
– Tables Follow –
Lantheus Holdings, Inc.
Consolidated Statements of Operations
(in thousands, except per share data – unaudited)
| Three Months Ended September 30, |
Nine Months Ended September 30, |
|||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||
| Revenues | $ | 239,292 | $ | 102,073 | $ | 671,895 | $ | 295,646 | ||||||||
| Cost of goods sold | 91,859 | 59,404 | 257,363 | 165,859 | ||||||||||||
| Gross profit | 147,433 | 42,669 | 414,532 | 129,787 | ||||||||||||
| Operating expenses | ||||||||||||||||
| Sales and marketing | 25,414 | 17,195 | 73,260 | 48,999 | ||||||||||||
| General and administrative | 23,759 | 28,550 | 93,945 | 87,865 | ||||||||||||
| Research and development | 12,517 | 11,252 | 39,455 | 33,673 | ||||||||||||
| Total operating expenses | 61,690 | 56,997 | 206,660 | 170,537 | ||||||||||||
| Gain on sale of assets | — | — | — | 15,263 | ||||||||||||
| Operating income (loss) | 85,743 | (14,328 | ) | 207,872 | (25,487 | ) | ||||||||||
| Interest expense | 1,626 | 1,569 | 4,604 | 6,224 | ||||||||||||
| Gain on extinguishment of debt | — | — | — | (889 | ) | |||||||||||
| Other income | 1,101 | 3,940 | 306 | 3,209 | ||||||||||||
| Income (loss) before income taxes | 83,016 | (19,837 | ) | 202,962 | (34,031 | ) | ||||||||||
| Income tax expense (benefit) | 21,784 | (6,422 | ) | 55,710 | (2,967 | ) | ||||||||||
| Net income (loss) | $ | 61,232 | $ | (13,415 | ) | $ | 147,252 | $ | (31,064 | ) | ||||||
| Net income (loss) per common share: | ||||||||||||||||
| Basic | $ | 0.89 | $ | (0.20 | ) | $ | 2.15 | $ | (0.46 | ) | ||||||
| Diluted | $ | 0.86 | $ | (0.20 | ) | $ | 2.08 | $ | (0.46 | ) | ||||||
| Weighted-average common shares outstanding: | ||||||||||||||||
| Basic | 68,756 | 67,623 | 68,482 | 67,409 | ||||||||||||
| Diluted | 71,075 | 67,623 | 70,669 | 67,409 | ||||||||||||
Lantheus Holdings, Inc.
Consolidated Revenues Analysis
(in thousands – unaudited)
| Three Months Ended September 30, |
Nine Months Ended September 30, |
|||||||||||||||||||||
| 2022 | 2021 | % Change | 2022 | 2021 | % Change | |||||||||||||||||
| DEFINITY | $ | 60,740 | $ | 57,636 | 5.4 | % | $ | 181,374 | $ | 173,448 | 4.6 | % | ||||||||||
| TechneLite | 22,094 | 22,680 | (2.6 | )% | 64,139 | 69,252 | (7.4 | )% | ||||||||||||||
| Other precision diagnostics | 6,175 | 7,563 | (18.4 | )% | 16,803 | 21,289 | (21.1 | )% | ||||||||||||||
| Total precision diagnostics | 89,009 | 87,879 | 1.3 | % | 262,316 | 263,989 | (0.6 | )% | ||||||||||||||
| PYLARIFY | 143,754 | 7,724 | N/A | 366,763 | 7,997 | N/A | ||||||||||||||||
| Other radiopharmaceutical oncology | 928 | 1,166 | (20.4 | )% | 3,183 | 5,206 | (38.9 | )% | ||||||||||||||
| Total radiopharmaceutical oncology | 144,682 | 8,890 | 1,527.5 | % | 369,946 | 13,203 | 2702.0 | % | ||||||||||||||
| Strategic Partnerships and other revenue | 5,601 | 5,304 | 5.6 | % | 39,633 | 18,454 | 114.8 | % | ||||||||||||||
| Total revenues | $ | 239,292 | $ | 102,073 | 134.4 | % | $ | 671,895 | $ | 295,646 | 127.3 | % | ||||||||||
Lantheus Holdings, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures
(in thousands, except per share data – unaudited)
| Three Months Ended September 30, |
Nine Months Ended September 30, |
|||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||
| Net income (loss) | $ | 61,232 | $ | (13,415 | ) | $ | 147,252 | $ | (31,064 | ) | ||||||
| Stock and incentive plan compensation | 8,103 | 3,867 | 21,138 | 11,772 | ||||||||||||
| Amortization of acquired intangible assets | 8,306 | 8,374 | 24,918 | 19,133 | ||||||||||||
| Acquired debt fair value adjustment | — | — | — | (307 | ) | |||||||||||
| Contingent consideration fair value adjustments | (1,500 | ) | 2,600 | 25,400 | 28,500 | |||||||||||
| Non-recurring severance related fees | — | (6 | ) | — | 522 | |||||||||||
| Non-recurring fees | — | — | (384 | ) | — | |||||||||||
| Extinguishment of debt | — | — | — | (889 | ) | |||||||||||
| Gain on sale of assets | — | — | — | (15,263 | ) | |||||||||||
| Strategic collaboration and license costs | — | — | 500 | — | ||||||||||||
| Integration costs | — | 63 | — | 93 | ||||||||||||
| Acquisition-related costs | 169 | 62 | 868 | 726 | ||||||||||||
| Impairment of long-lived assets | — | 9,540 | — | 9,540 | ||||||||||||
| ARO Acceleration and other related costs | 1,287 | — | 3,087 | — | ||||||||||||
| Other | 106 | 7 | 111 | 60 | ||||||||||||
| Income tax effect of non-GAAP adjustments(a) | (7,038 | ) | (5,411 | ) | (21,512 | ) | (6,059 | ) | ||||||||
| Adjusted net income | $ | 70,665 | $ | 5,681 | $ | 201,378 | $ | 16,764 | ||||||||
| Adjusted net income, as a percentage of revenues | 29.5 | % | 5.6 | % | 30.0 | % | 5.7 | % | ||||||||
| Three Months Ended September 30, |
Nine Months Ended September 30, |
|||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||
| Net income (loss) per share – diluted | $ | 0.86 | $ | (0.20 | ) | $ | 2.08 | $ | (0.46 | ) | ||||||
| Stock and incentive plan compensation | 0.11 | 0.05 | 0.30 | 0.18 | ||||||||||||
| Amortization of acquired intangible assets | 0.12 | 0.12 | 0.36 | 0.28 | ||||||||||||
| Acquired debt fair value adjustment | — | — | — | (0.01 | ) | |||||||||||
| Contingent consideration fair value adjustments | (0.02 | ) | 0.04 | 0.36 | 0.42 | |||||||||||
| Non-recurring severance related fees | — | — | — | 0.01 | ||||||||||||
| Non-recurring fees | — | — | (0.01 | ) | — | |||||||||||
| Extinguishment of debt | — | — | — | (0.01 | ) | |||||||||||
| Gain on sale of assets | — | — | — | (0.23 | ) | |||||||||||
| Strategic collaboration and license costs | — | — | 0.01 | — | ||||||||||||
| Integration costs | — | — | — | — | ||||||||||||
| Acquisition-related costs | — | 0.01 | 0.01 | 0.01 | ||||||||||||
| Impairment of long-lived assets | — | 0.14 | — | 0.14 | ||||||||||||
| ARO Acceleration and other related costs | 0.02 | — | 0.04 | — | ||||||||||||
| Other | — | — | — | — | ||||||||||||
| Income tax effect of non-GAAP adjustments(a) | (0.10 | ) | (0.08 | ) | (0.30 | ) | (0.09 | ) | ||||||||
| Adjusted net income per share – diluted | $ | 0.99 | $ | 0.08 | $ | 2.85 | $ | 0.24 | ||||||||
| Weighted-average common shares outstanding – diluted | 71,075 | 69,237 | 70,669 | 68,674 | ||||||||||||
(a) The income tax effect of the adjustments between GAAP net loss and non-GAAP adjusted net income takes into account the tax treatment and related tax rate that apply to each adjustment in the applicable tax jurisdiction.
Lantheus Holdings, Inc.
Reconciliation of Free Cash Flow
(in thousands – unaudited)
| Three Months Ended September 30, |
Nine Months Ended September 30, |
||||||||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||||||||
| Net cash provided by operating activities | $ | 93,568 | $ | 4,340 | $ | 176,429 | $ | 40,027 | |||||||
| Capital expenditures | (6,090 | ) | (2,420 | ) | (13,623 | ) | (7,596 | ) | |||||||
| Free cash flow | $ | 87,478 | $ | 1,920 | $ | 162,806 | $ | 32,431 | |||||||
| Net cash (used in) provided by investing activities | $ | (6,090 | ) | $ | (2,420 | ) | $ | (11,823 | ) | $ | 8,227 | ||||
| Net cash used in financing activities | $ | (1,959 | ) | $ | (1,726 | ) | $ | (6,149 | ) | $ | (37,232 | ) | |||
Lantheus Holdings, Inc.
Condensed Consolidated Balance Sheets
(in thousands – unaudited)
| September 30, 2022 |
December 31, 2021 |
||||||
| Assets | |||||||
| Current assets | |||||||
| Cash and cash equivalents | $ | 257,259 | $ | 98,508 | |||
| Accounts receivable, net | 197,276 | 89,336 | |||||
| Inventory | 34,793 | 35,129 | |||||
| Other current assets | 12,570 | 12,818 | |||||
| Total current assets | 501,898 | 235,791 | |||||
| Property, plant and equipment, net | 120,826 | 116,772 | |||||
| Intangibles, net | 323,591 | 348,510 | |||||
| Goodwill | 61,189 | 61,189 | |||||
| Deferred tax assets, net | 46,806 | 62,764 | |||||
| Other long-term assets | 41,628 | 38,758 | |||||
| Total assets | $ | 1,095,938 | $ | 863,784 | |||
| Liabilities and stockholders’ equity | |||||||
| Current liabilities | |||||||
| Current portion of long-term debt and other borrowings | $ | 15,372 | $ | 11,642 | |||
| Accounts payable | 30,135 | 20,787 | |||||
| Accrued expenses and other liabilities | 190,477 | 58,068 | |||||
| Total current liabilities | 235,984 | 90,497 | |||||
| Asset retirement obligations | 23,358 | 20,833 | |||||
| Long-term debt, net and other borrowings | 152,057 | 163,121 | |||||
| Other long-term liabilities | 46,489 | 124,894 | |||||
| Total liabilities | 457,888 | 399,345 | |||||
| Total stockholders’ equity | 638,050 | 464,439 | |||||
| Total liabilities and stockholders’ equity | $ | 1,095,938 | $ | 863,784 | |||
Contacts:
Mark Kinarney
Vice President, Investor Relations
978-671-8842
[email protected]
Melissa Downs
Senior Director, Corporate Communications
646-975-2533
[email protected]
Artificial Intelligence
Identity Governance & Administration Market Projected to Reach $24.42 billion by 2030 – Exclusive Report by 360iResearch
PUNE, India, April 25, 2024 /PRNewswire/ — The report titled “Identity Governance & Administration Market by Component (Services, Solution), Modules (Access Certification & Compliance Control, Access Management, Identity Lifecycle Management), Organization Size, Deployment, Vertical – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $8.46 billion in 2023 to reach $24.42 billion by 2030, at a CAGR of 16.34% over the forecast period.
“Navigating Global Identity Governance With Key Strategies for Digital Security and Compliance”
Identity governance and administration (IGA) has emerged as a critical policy-driven approach aimed at fortifying digital identities within organizations, ensuring that proper access is provided to the right individuals for valid reasons. Across the globe, the demand for IGA solutions is on the rise, driven by the need to tackle sophisticated cyber threats, comply with stringent data protection laws, and adapt to the digitization wave sweeping through industries. Challenges include integrating these solutions with pre-existing IT frameworks, primarily in organizations reliant on legacy systems. The North American market, led by the United States and Canada, is at the forefront of this expansion, embracing technological advancements and stringent regulatory standards. Meanwhile, the Europe, Middle East, and Africa (EMEA) region is navigating its unique landscape, with the EU focusing heavily on compliance through GDPR and the Middle East and Africa gradually recognizing the value of digital security. The Asia-Pacific region is witnessing a significant uptrend in IGA solutions adoption, spurred by digital transformation initiatives and cybersecurity awareness, with China and India playing pivotal roles. This global perspective highlights the universal importance of IGA in today’s digital era, highlighting the critical balance between innovation, security, and regulatory compliance in safeguarding digital identities.
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“Navigating the New Normal With The Crucial Role of Identity Governance in Securing Hybrid Work Environments”
As businesses globally embrace the fusion of remote and traditional office work, the need for secure, hybrid workspaces becomes paramount. The shift toward flexible working models, accelerated by the COVID-19 pandemic, highlights the importance of cybersecurity and accessibility in ensuring operational continuity and a better work-life balance. Identity governance & administration (IGA) systems emerge as essential tools within this evolving work landscape. They enable organizations to manage digital identities and access rights effectively, safeguarding sensitive data against unauthorized access across diverse working environments. By ensuring that only credentialed employees can access critical information, regardless of their physical location, IGA solutions stand at the forefront of maintaining cybersecurity compliance and operational integrity. This development signifies a growing demand for robust identity governance frameworks, ensuring businesses remain resilient and secure in remote work and beyond.
“Elevating Security and Efficiency in Organizations through Specialized Identity Governance & Administration Services”
Managed and professional services provide organizations with the specialized expertise necessary for optimizing the performance and security of identity governance & administration (IGA) systems, eliminating the need for such in-depth knowledge internally. Businesses benefit from advanced skills that enhance system functionality and safeguard sensitive data by outsourcing specific IGA tasks. From the initial stages of integration and implementation, ensuring seamless incorporation with existing infrastructures, to ongoing support and maintenance for consistent system reliability and up-to-dateness, these services form the foundation of effective IGA strategies. Furthermore, training and consulting play a pivotal role, equipping companies with the understanding and capability to utilize their IGA systems to the fullest. IGA solution is a critical technological tool designed to streamline the management of user access rights across organizations, bolstering security, operational efficiency, and compliance with regulatory standards. This comprehensive approach to IGA facilitates a more secure, efficient, and compliant organizational environment, empowering businesses to focus on core objectives and ensure their data remains protected.
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“International Business Machines Corporation at the Forefront of Identity Governance & Administration Market with a Strong 7.09% Market Share”
The key players in the Identity Governance & Administration Market include Broadcom, Inc., SAP SE, Oracle Corporation, Microsoft Corporation, International Business Machines Corporation, and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
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We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Identity Governance & Administration Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Identity Governance & Administration Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
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PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsIdentity Governance & Administration Market, by ComponentIdentity Governance & Administration Market, by ModulesIdentity Governance & Administration Market, by Organization SizeIdentity Governance & Administration Market, by DeploymentIdentity Governance & Administration Market, by VerticalAmericas Identity Governance & Administration MarketAsia-Pacific Identity Governance & Administration MarketEurope, Middle East & Africa Identity Governance & Administration MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
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Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
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Artificial Intelligence
Enghouse Video Partners With SONIFI Health To Deliver Advanced Telehealth Solutions In Hospital Rooms
MARKHAM, ON, April 25, 2024 /PRNewswire/ — Enghouse Video, a global leader in cutting-edge video technology solutions, today announced its partnership with SONIFI Health, enhancing virtual care in hospital settings.
SONIFI Health is a leading U.S. healthcare technology company based in Sioux Falls, South Dakota. The new partnership leverages and integrates Enghouse Video room systems technology to support SONIFI Health’s commitment to expanding telehealth applications and system optimizations in hospital settings.
Enghouse’s VidyoRooms solution, a sophisticated video conferencing technology that combines both software and hardware solutions, has been fully integrated into SONIFI Health’s interactive TV systems. This integration provides up to 4K high-quality video conferencing, multi-party sessions and robust security features that ensure full compliance with healthcare regulations.
Enghouse Video offers an immersive telehealth platform to support collaborative interdisciplinary care, improved patient outcomes and cost savings. The platform is flexible and simple, delivering the reliability, interoperability, and scalability needed for today’s healthcare environment. A key strength of the partnership is its offering of back-end integrations like patient portals, medical devices, EMR, tele-sitting, remote patient observation and consultation.
“Hospitals can choose the telehealth partner that’s right for them, and we incorporate that solution with interactive TV,” said Brian Nido, SONIFI Health’s Vice President of Customer Success. “Using the hardware and systems they already have in patient rooms helps hospitals reduce costs and maximize the value of their existing investments, while benefiting both clinicians and patients.”
SONIFI Health and Enghouse Video continue to collaborate closely to further refine and enhance the telehealth solutions provided to healthcare facilities. This partnership reflects a shared commitment to leveraging technology to create smarter hospital rooms and improve patient care across the healthcare spectrum.
About Enghouse VideoEnghouse Video, part of the Enghouse Interactive division, is a subsidiary of Enghouse Systems Limited, a vertically focused software and services company traded on the Toronto Stock Exchange (TSX: ENGH). Through highly secure, scalable and flexible Cloud-based or On Prem services, we deliver one of the world’s highest quality and most innovative video platform to video-enable any application or idea. From advanced video conferencing and collaboration tools to state-of-art enterprise video management, Enghouse Video is a unique player in multiple markets, including telehealth. Learn more at www.enghousevideo.com, read our blog, or follow us on Twitter at @EnghouseVideo, on LinkedIn, and on Facebook.
About SONIFI HealthSONIFI Health provides market-leading interactive patient engagement technology proven to improve patient outcomes and staff productivity. The EHR-integrated platform is designed to enhance patient and family experiences while increasing staff satisfaction and organizations’ operational efficiencies. As part of SONIFI Solutions, Inc., the company annually supports more than 300 million end user experiences. Learn more at sonifihealth.com.
Enghouse Video Contact: Sylvain Awad, Director, Demand Generation, Enghouse Video, part of Enghouse Interactive Division, [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/enghouse-video-partners-with-sonifi-health-to-deliver-advanced-telehealth-solutions-in-hospital-rooms-302126882.html
Artificial Intelligence
Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow
Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.
Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
Logo – https://mma.prnewswire.com/media/2318845/3CLogic_logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/global-insurance-provider-selects-3clogic-to-streamline-ai-and-contact-center-capabilities-with-servicenow-302127739.html
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