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Friday, February 26, 2021

Change Healthcare [NASDAQ: CHNG] Buys PROMETHEUS Analytics

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Change Healthcare Inc. [NASDAQ: CHNG] has bought PROMETHEUS Analytics from Altarum, the company disclosed today. Change Healthcare Inc. has earlier worked with PROMETHEUS Analytics and has a successful history of working with PROMETHEUS.

CHNG was also the first certified partner of PROMETHEUS Analytics. This deal provides an opportunity to Change Healthcare to focus on and invest in core aspects of the business.

Shares of Change Healthcare soared 2.61%, or up +0.34 during the trading of Wednesday. It has a day low range of $13.20 and a high range of $13.41.

Change Healthcare, Inc. has a closing price of $13.35. In the past 52-weeks of trading, CHNG has recorded the low and high range of $6.18-$17.57.

Its shares have moved up 116.02% from its 52-weeks low and moved down -24.02% from its 52-weeks high. Change Healthcare had recorded the trading volume of 42.78K as compared to the average volume of 4.09 million.

If we turn our focus on its profitability, its return on assets (ROA) is -1.70%, return on equity (ROE) is -7.90%, and return on investment (ROI) is 3.20%.

Change Healthcare has a Gross Margin of 57.50%. Its Profit Margin is -4.30% and an Operating Margin is 3.30%. Continuing to look at its liquidity, it has a current ratio of 1.30.

Similarly, its Quick ratio is also 1.30. CHNG has total debt to equity ratio is 1.56 and the long-term debt to equity ratio is 1.55. This company has reported sales of 3.14 billion.

This deal helps Change Healthcare to boost its long term growth, increase innovation, and accelerate the industry’s transition to value-based care.

PROMETHEUS Analytics is consolidated into the Health QX value-based platform of Change Healthcare.  It enables health plans to enhance payment models, evaluate provider performance, identify care variations, and improve network efficiency.

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