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TAMPA - SCWorx Corp. (NASDAQ:WORX), a micro-cap company with $2.84 million in trailing twelve-month revenue, announced Tuesday it has entered into a new agreement with an unnamed healthcare supply chain consulting partner to strengthen its software-as-a-service data management program. The company’s stock has declined over 82% year-to-date, according to InvestingPro data.
According to the press release, the partner has experience helping hospitals reduce costs and optimize spend management, with access to products and services at local, regional, and national levels. The partner operates in all 50 states and works with hospitals to optimize direct and indirect procurement.
SCWorx CEO Tim Hannibal said the company’s Foundation product will help the partner "enhance their product line and provide additional value to their healthcare customer." The partner selected SCWorx for its data cleanse, normalization and enrichment services.
The agreement reinforces SCWorx’s position in providing data management solutions specifically designed for hospitals in the United States. The company offers various software modules including Virtual Item Master, contract management, automated rebate management, and data analytics.
The financial terms of the agreement were not disclosed in the announcement.
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