Phunware (NASDAQ:PHUN) stock is heading higher on Thursday following news of a massive deal for the mobile tracking and ad servicing company.
Here’s everything investors in PHUN stock need to know about today’s deal.
- The company is partnering with Vizzia Technologies to provide it with its digital front door solution for mobile devices.
- This will have it providing its mobile solutions to leading healthcare platforms that make use of Vizzia Technologies’ real-time location systems (RTLS) tech.
- The goal is to increase the efficiency of healthcare companies.
- That includes Vizzia Technologies’ blue dot system that allows for navigation directions inside of hospitals.
- Vizzia Technologies has been working with hospitals for over 15 years providing them with RTLS.
- Other systems include Face ID login for medical records, as well as mobile bill pay, staff directory and analytics.
- This allows Phunware to bring together multiple aspects of healthcare management in one seamless package.
- That includes combining data from electronic health records and telehealth providers.
Alan S. Knitowski, co-founder, president, CEO of Phunware, said this about the news sending PHUN stock soaring today.
“The future of healthcare will be tech-enabled and contextual, so partnering with a leading RTLS company like Vizzia is a natural fit. Together, Phunware and Vizzia can help hospitals cut costs, streamline complicated processes and ultimately improve patient care.”
PHUN stock was up 59.9% as of Thursday morning and is up 115.2% since the start of the year.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.