Today’s premarket action for the global BPA leader Exela Technologies, Inc. (NASDAQ: XELA) has seen its shares rise 44.85%. An investment of $90 million around its enterprise platform may explain the recent rise.
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What’s drove the rally?
Exela Technologies launched last September an enterprise platform, PCH Global, which integrates automation technology, SaaS, and other services. The company today announced a 10 year, $90 million venture centered on that platform.
This project accelerates the digital process for a major US health insurer and is part of a multi-year partnership that also have a potential of generating more than $28 million of revenue for the company. As a result, Exela’s first healthcare project will involve the implementation of PCH Global, their digital exchange platform, for the delivery of healthcare solutions in the cloud and onsite. In this venture, the insurance company and their provider and member network will communicate face to face across multiple channels regarding the end-to-end processing of complex health insurance claims.
Also available is a proprietary data-driven platform for discovering patterns, maintaining platform health, and reporting analytics to help Exela’s customers launch new services. The Exela strategy to move existing healthcare relationships to PCH Global’s cloud network has been designed to reduce costs and enable greater scalability and reliability for existing and future healthcare relationships.
Exela’s data scientists leverage neural networks, as well as Exela’s Business Process Management teams, to provide clients with sophisticated data-driven solutions. Healthcare and insurance customers can use those solutions to optimize, digitize, and simplify their business processes, generate deeper insights, and get better control on their processes.