On Thursday, the Streamline Health Solutions Inc (NASDAQ:STRM) stock did not make any notable move and traded within a range. That being said, it is also necessary to keep in mind that earlier on this week the company had also made a significant announcement and investors could do well to take a look at it before analysing the stock.
Back on Monday the company, which is best known for providing the eValuator™ Revenue Integrity Program to the healthcare sector, announced that it completed the acquisition of Avelead Consulting LLC. Streamline is involved in helping healthcare providers with taking care of their revenue leakages through its program and Avelead is also involved in helping in the improvement of revenue integrity in the same sector.
Avelead has worked with healthcare providers across the United States. The company has noted that the acquisition of Avelead could help it in boosting its revenues considerably and at the same time help it in speeding up the path to generating positive EBITDA.
In other words, Streamline Health believes that the acquisition of Avelead could help the company in accelerating its own growth. The market has not yet reacted one way or another but it might be a good time to track the Streamline stock.