Inovalon Shares Up After Platform Deal With Walmart
July 23 2020 - 10:30AM
Dow Jones News
By Robb M. Stewart
Inovalon's shares advanced Thursday after the company said it
had agreed a long-term deal to provide its cloud-based platform to
Walmart Inc.'s specialty pharmacy business.
In morning trading, shares were up 12% to $22.41, and are now
18% higher year-to-date.
The company said its Inovalon ONE platform will help in the
coordination of specialty medication dispensing from Walmart's
business, and be available across the retailer's network of
thousands of retail pharmacies. The platform would help decrease
prescription time-to-fill and lower costs-to-fill, it said.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
July 23, 2020 10:15 ET (14:15 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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