Owens & Minor, Inc. (NYSE: OMI) has announced a partnership with Google Cloud, owned by the parent holding company, Alphabet to enhance the existing capabilities of its cloud-based clinical inventory management system, QSight. The collaboration will combine the company's expertise in optimizing the healthcare supply chain with Google Cloud's Vertex AI platform, to tackle the modern supply chain management complexities and support the patients more effectively.
The latest development demonstrates the progress Owens & Minor has been making toward its strategic goals for the Products & Healthcare Services segment.
Following the news, shares of OMI edged up 0.2% to $14.42 at Tuesday's close. By staying at the forefront of technology, including making investments with one of the most renowned innovators in the market, the company consistently delivers value to its customers and improves clinician efficiency. We expect the market sentiment on OMI stock to stay positive around this development.
Significance of OMI's New Partnership
The implications of inefficient inventory management in healthcare can extend beyond the stockroom and into the operating room. This includes the risks of expired products being used in patient care and loss of inventory if products expire before. There is also an increasing pressure to deliver high-quality care while managing costs and optimizing efficiency — with less support from clinical ...
