One of the main developments shaking in the small-cap world took place mid-afternoon Tuesday, when SCWorx Corp. (NASDAQ:WORX) announced expansion of its customer base.
The firm has made inroads with a prestigious hospital system in the Northeast, and the contract involves five years, minimum of $1 million for its proprietary ScanWorx, the company’s service offering.
CEO Marc Schessel says, "Senior hospital executives representing finance, perioperative and materials departments, are increasingly recognizing that the ScanWorx solution provides the best opportunity to achieve hospitals’ financial goals of reducing costs and increasing procedure-based margins without sacrificing patient outcomes."
New York-based SCWorx created The Ultraverse Platform, an advanced attributed Virtualized Item Data Warehouse utilizing Machine Learning and Artificial Intelligence in order to offer a suite of SaaS based solutions for healthcare providers. The value proposition for customers revolves around all solution modules being fully integrated with the Virtual Data Warehouse platform.
WORX shares gained a handsome 19 cents, or 6.5%, to $3.11, on volume topping 92,000 shares.
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