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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Nuance Communications, Inc.    NUAN

NUANCE COMMUNICATIONS, INC.

(NUAN)
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Nuance Communications : Awarded Frost & Sullivan's 2020 Global Company of the Year Award for Leading the Conversational AI Market

11/17/2020 | 10:27am EST

LONDON, Nov. 17, 2020 /CNW/ -- Based on its recent analysis of the global market for AI-powered solutions enabling patient safety in healthcare, Frost & Sullivan recognizes Nuance Communications with the 2020 Global Company of the Year Award. A pioneer in conversational AI and ambient clinical intelligence, the company has designed innovative AI solutions that document physician-patient conversations, securely operating across physical and virtual clinical settings.

A pioneer and leading market player in conversational AI, Nuance offers digital intelligence to assist daily clinical work and life. Its speech recognition, clinical documentation, and transcription solutions for the healthcare industry are used by more than 550,000 physicians and 10,000 healthcare organizations for providing unmatched clinical, financial, and patient engagement outcomes. Its flagship solution, Nuance Dragon® Medical One, is a revolutionary cloud-based application offered on a Software-as-a-Service (SaaS) model and hosted on the Microsoft Azure cloud.

"Addressing the looming issue of clinician burnout arising from the heavy clinical documentation workload, Dragon Medical One stores and communicates more than 300 million patient stories, annually," said Suchismita Das, Industry Analyst. "Continual updates to the speech recognition technology improve the solution's capability significantly, thereby reducing medication errors and ensuring patient safety through improved quality of care. Nuance also pioneered another important advancement by enabling cloud-support through Nuance Dragon Medical One, envisioning a future delivery model that involves care teams spread across various locations."

Nuance is a frontrunner in introducing solutions that align with healthcare megatrends, such as the shift towards value-based healthcare and greater automation to reduce or eliminate manual data input errors. It has brought to the market several innovative, next-generation patient safety solutions through strategic partnerships. A recent and major strategic activity was the integration of Nuance's Dragon Ambient eXperience (DAX) and Microsoft Teams. This AI-powered ambient clinical intelligence speeds up telehealth workflow solutions adoption, thus reducing clinician burnout with clinical documentation that writes itself. Other significant partnerships are with Cerner to reduce the physician's cognitive burden at the point-of-care through Nuance's virtual assistant platform, as well as the integration of Nuance's AI-powered virtual assistant platform with the Epic EHR.

"It is noteworthy that Nuance created DAX to improve both the physician and patient experience," noted Das. "Overall, strategic partnerships, technological enhancements of solutions to improve quality of care, and increased focus on ambient clinical intelligence and digital assistants underpin Nuance's market leadership."

Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies and the resulting leadership in terms of customer value and market penetration.

Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.

About Frost & Sullivan

For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion. Contact us: Start the discussion.

Contact:
Kristen Moore
P: 210.247.3823
E: kristen.moore@frost.com

About Nuance Communications

Nuance Communications (NASDAQ: NUAN) is a technology pioneer with market leadership in conversational AI and ambient intelligence. A full-service partner trusted by 90 percent of US hospitals and 85 percent of the Fortune 100 companies worldwide, Nuance creates intuitive solutions that amplify people's ability to help others.

Contact:
Nancy Scott
P: 781.565.4130
E: nancy.scott@nuance.com

Cision
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SOURCE Frost & Sullivan

© Canada Newswire, source Canada Newswire English

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Financials (USD)
Sales 2021 1 356 M - -
Net income 2021 13,4 M - -
Net Debt 2021 1 151 M - -
P/E ratio 2021 1 084x
Yield 2021 -
Capitalization 13 903 M 13 903 M -
EV / Sales 2021 11,1x
EV / Sales 2022 10,3x
Nbr of Employees 7 100
Free-Float 98,0%
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Mean consensus BUY
Number of Analysts 8
Average target price 45,75 $
Last Close Price 48,80 $
Spread / Highest target 33,2%
Spread / Average Target -6,25%
Spread / Lowest Target -30,3%
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NameTitle
Mark D. Benjamin Chief Executive Officer & Director
Lloyd A. Carney Independent Non-Executive Chairman
Daniel David Tempesta Chief Financial Officer & EVP-Finance
Mark Sherwood Chief Information Officer & Senior Vice President
Joseph Carl Petro Chief Technology Officer & Executive VP
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