Cerner climbs on strategic partnership with Intermountain

|About: Cerner Corporation (CERN)|By:, SA News Editor

Cerner (CERN +9.6%) shares spike after the company inks a multi-year strategic partnership with Intermountain (which operates 22 hospitals in Utah and Idaho) to implement Cerner's electronic medical record and revenue cycle solutions across all of Intermountain's hospitals and clinics.

The collaboration also aims to leverage Intermountain's clinical processes and data as well as build a new set of tools, such as activity-based costing, for "a post-fee-for-service world."

B. Riley's Gene Mannheimer told Benzinga that the partnership is "huge" and could be valued at "a couple hundred million dollars." Making things sweeter, Cerner beat out Epic for the contract, which has recently been viewed as the likely winner of "any contract up for grabs."